Dynavax Technologies (NASDAQ:DVAX) Sets New 52-Week Low Following Analyst Downgrade

Dynavax Technologies Co. (NASDAQ:DVAX)’s stock price hit a new 52-week low during mid-day trading on Thursday after JMP Securities lowered their price target on the stock from $33.00 to $31.00. JMP Securities currently has a market outperform rating on the stock. Dynavax Technologies traded as low as $9.62 and last traded at $9.72, with a volume of 6232072 shares traded. The stock had previously closed at $10.92.

Several other equities research analysts have also recently issued reports on DVAX. William Blair reaffirmed an “outperform” rating on shares of Dynavax Technologies in a research note on Friday, February 21st. The Goldman Sachs Group lowered their price target on shares of Dynavax Technologies from $12.00 to $10.00 and set a “sell” rating on the stock in a research report on Thursday, April 17th. HC Wainwright reiterated a “buy” rating and issued a $31.00 price objective on shares of Dynavax Technologies in a report on Friday, February 21st. Finally, StockNews.com cut Dynavax Technologies from a “buy” rating to a “hold” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $24.00.

Institutional Investors Weigh In On Dynavax Technologies

Hedge funds have recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Dynavax Technologies during the 4th quarter worth approximately $990,000. Nordea Investment Management AB increased its stake in Dynavax Technologies by 42.7% during the fourth quarter. Nordea Investment Management AB now owns 777,816 shares of the biopharmaceutical company’s stock worth $10,034,000 after acquiring an additional 232,690 shares during the last quarter. Palumbo Wealth Management LLC purchased a new stake in Dynavax Technologies in the fourth quarter valued at $275,000. Barclays PLC lifted its stake in shares of Dynavax Technologies by 137.4% in the 3rd quarter. Barclays PLC now owns 302,572 shares of the biopharmaceutical company’s stock valued at $3,371,000 after purchasing an additional 175,118 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC grew its holdings in shares of Dynavax Technologies by 97.6% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 310,430 shares of the biopharmaceutical company’s stock worth $3,964,000 after purchasing an additional 153,302 shares during the period. Hedge funds and other institutional investors own 96.96% of the company’s stock.

Dynavax Technologies Stock Down 0.6 %

The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of 53.69 and a beta of 1.26. The business has a 50-day moving average of $12.33 and a 200-day moving average of $12.56. The company has a debt-to-equity ratio of 0.33, a quick ratio of 12.34 and a current ratio of 13.23.

Dynavax Technologies (NASDAQ:DVAX) last released its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.14). Dynavax Technologies had a net margin of 9.85% and a return on equity of 4.22%. The company had revenue of $68.16 million during the quarter, compared to analysts’ expectations of $70.01 million. On average, sell-side analysts expect that Dynavax Technologies Co. will post 0.32 EPS for the current year.

About Dynavax Technologies

Dynavax Technologies Corporation, a commercial stage biopharmaceutical company, focuses on developing and commercializing vaccines in the United States. It markets HEPLISAV-B, a hepatitis B vaccine for prevention of infection caused by all known subtypes of hepatitis B virus in age 18 years and older in the United States and Europe.