Dynavax Technologies’ (DVAX) Buy Rating Reaffirmed at HC Wainwright

Dynavax Technologies (NASDAQ:DVAX)‘s stock had its “buy” rating restated by investment analysts at HC Wainwright in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $29.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 158.24% from the stock’s current price.

Separately, StockNews.com cut Dynavax Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, May 28th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.33.

Dynavax Technologies Stock Performance

Shares of DVAX opened at $11.23 on Friday. The stock’s 50-day simple moving average is $11.54 and its 200 day simple moving average is $12.47. The stock has a market capitalization of $1.47 billion, a price-to-earnings ratio of 187.17 and a beta of 1.20. The company has a debt-to-equity ratio of 0.36, a quick ratio of 14.10 and a current ratio of 15.20. Dynavax Technologies has a 52-week low of $10.48 and a 52-week high of $15.15.

Dynavax Technologies (NASDAQ:DVAX) last released its quarterly earnings results on Wednesday, May 8th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.02). Dynavax Technologies had a net margin of 3.91% and a return on equity of 1.52%. The business had revenue of $50.79 million during the quarter, compared to analysts’ expectations of $51.98 million. Research analysts forecast that Dynavax Technologies will post 0.12 EPS for the current fiscal year.

Insider Activity

In other news, Director Francis Cano sold 3,615 shares of the stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $11.93, for a total transaction of $43,126.95. Following the transaction, the director now directly owns 36,905 shares in the company, valued at approximately $440,276.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.98% of the company’s stock.

Hedge Funds Weigh In On Dynavax Technologies

Institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Dynavax Technologies by 7.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,032,139 shares of the biopharmaceutical company’s stock valued at $56,372,000 after purchasing an additional 293,337 shares during the last quarter. Parkman Healthcare Partners LLC bought a new position in Dynavax Technologies during the 4th quarter worth approximately $3,550,000. Rafferty Asset Management LLC grew its position in Dynavax Technologies by 13.4% during the 4th quarter. Rafferty Asset Management LLC now owns 540,319 shares of the biopharmaceutical company’s stock worth $7,554,000 after acquiring an additional 63,685 shares during the last quarter. Vanguard Group Inc. grew its position in Dynavax Technologies by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 9,146,891 shares of the biopharmaceutical company’s stock worth $135,100,000 after acquiring an additional 270,730 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Dynavax Technologies by 21.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 3,597,139 shares of the biopharmaceutical company’s stock worth $50,288,000 after acquiring an additional 644,428 shares during the last quarter. 96.96% of the stock is currently owned by institutional investors.

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.