DBV Technologies (NASDAQ:DBVT) Sees Strong Trading Volume After Analyst Upgrade

DBV Technologies S.A. (NASDAQ:DBVT) shares saw an uptick in trading volume on Thursday after Citizens Jmp raised their price target on the stock from $21.00 to $45.00. Citizens Jmp currently has a market outperform rating on the stock. 269,934 shares changed hands during trading, an increase of 23% from the previous session’s volume of 219,139 shares.The stock last traded at $20.9540 and had previously closed at $22.55.

A number of other equities research analysts have also commented on DBVT. Guggenheim reaffirmed a “buy” rating and issued a $51.00 price objective (up from $35.00) on shares of DBV Technologies in a research note on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of DBV Technologies in a report on Monday, December 8th. Zacks Research raised shares of DBV Technologies from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Cantor Fitzgerald raised DBV Technologies to a “strong-buy” rating in a report on Monday. Finally, Wall Street Zen upgraded shares of DBV Technologies from a “sell” rating to a “hold” rating in a report on Friday, November 28th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $35.38.

Institutional Trading of DBV Technologies

Several hedge funds and other institutional investors have recently modified their holdings of DBVT. Vivo Capital LLC bought a new position in shares of DBV Technologies in the 2nd quarter valued at $9,659,000. Nan Fung Trinity HK Ltd. bought a new position in DBV Technologies during the 2nd quarter worth approximately $340,000. Millennium Management LLC boosted its position in shares of DBV Technologies by 26.1% during the third quarter. Millennium Management LLC now owns 337,863 shares of the company’s stock valued at $3,379,000 after purchasing an additional 69,849 shares in the last quarter. Citadel Advisors LLC purchased a new position in shares of DBV Technologies in the third quarter worth $220,000. Finally, Octagon Capital Advisors LP bought a new position in shares of DBV Technologies in the second quarter worth about $9,315,000. Institutional investors and hedge funds own 71.74% of the company’s stock.

DBV Technologies Stock Performance

The firm has a market capitalization of $839.67 million, a PE ratio of -3.99 and a beta of -1.10. The company has a fifty day moving average price of $15.11 and a 200-day moving average price of $11.66.

About DBV Technologies

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.