DBV Technologies (NASDAQ:DBVT) Shares Gap Up Following Analyst Upgrade

DBV Technologies S.A. (NASDAQ:DBVT) gapped up before the market opened on Friday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The stock had previously closed at $12.90, but opened at $13.55. DBV Technologies shares last traded at $14.00, with a volume of 617,165 shares changing hands.

A number of other equities analysts have also weighed in on DBVT. Zacks Research raised DBV Technologies from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. HC Wainwright reissued a “buy” rating and issued a $20.00 price target (up from $16.00) on shares of DBV Technologies in a report on Wednesday, October 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of DBV Technologies in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $16.08.

Hedge Funds Weigh In On DBV Technologies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New York State Common Retirement Fund purchased a new position in shares of DBV Technologies in the third quarter valued at $34,000. Two Sigma Investments LP purchased a new stake in DBV Technologies during the third quarter valued at $167,000. Citadel Advisors LLC bought a new position in DBV Technologies during the third quarter valued at $220,000. DLD Asset Management LP purchased a new position in shares of DBV Technologies in the 3rd quarter worth $250,000. Finally, Nan Fung Trinity HK Ltd. purchased a new position in shares of DBV Technologies in the 2nd quarter worth $340,000. 71.74% of the stock is owned by institutional investors.

DBV Technologies Stock Performance

The business’s fifty day moving average price is $13.66 and its two-hundred day moving average price is $11.01. The stock has a market capitalization of $503.52 million, a P/E ratio of -2.71 and a beta of -0.49.

DBV Technologies Company Profile

DBV Technologies SA, a clinical-stage biopharmaceutical company, engages in the research and development of epicutaneous immunotherapy products. Its product pipeline comprising Viaskin Peanut, an immunotherapy product, which has completed Phase 3 clinical trial for the treatment of peanut allergies; and Viaskin Milk which is in Phase 1/2 clinical trial for the treatment of immunoglobulin E (IgE) mediated or cow’s milk protein allergy and eosinophilic esophagitis.