Dynavax Technologies (NASDAQ:DVAX) Shares Gap Down to $13.06

Dynavax Technologies Co. (NASDAQ:DVAX)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $13.06, but opened at $12.68. Dynavax Technologies shares last traded at $13.04, with a volume of 3,256 shares trading hands.

Several analysts have issued reports on DVAX shares. Zacks Investment Research lowered Dynavax Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, January 5th. William Blair reissued a “hold” rating on shares of Dynavax Technologies in a research report on Friday, October 1st. The Goldman Sachs Group reissued a “buy” rating on shares of Dynavax Technologies in a research note on Monday, September 27th. Finally, HC Wainwright began coverage on Dynavax Technologies in a research note on Wednesday. They set a “buy” rating and a $28.00 target price for the company. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $21.00.

The company has a current ratio of 1.61, a quick ratio of 1.48 and a debt-to-equity ratio of 3.26. The business has a 50-day moving average price of $14.84 and a two-hundred day moving average price of $14.65.

Dynavax Technologies (NASDAQ:DVAX) last released its quarterly earnings results on Thursday, November 4th. The biopharmaceutical company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.29). The company had revenue of $108.27 million during the quarter, compared to analysts’ expectations of $77.30 million. Dynavax Technologies had a negative net margin of 14.60% and a negative return on equity of 3.73%. During the same period in the previous year, the company posted ($0.15) earnings per share. Research analysts predict that Dynavax Technologies Co. will post 1 EPS for the current fiscal year.

In related news, COO David F. Novack sold 20,000 shares of the company’s stock in a transaction on Monday, November 1st. The shares were sold at an average price of $20.12, for a total value of $402,400.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 11.77% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Credit Suisse AG lifted its position in Dynavax Technologies by 34.6% in the second quarter. Credit Suisse AG now owns 142,911 shares of the biopharmaceutical company’s stock valued at $1,407,000 after purchasing an additional 36,713 shares during the last quarter. First Hawaiian Bank increased its stake in shares of Dynavax Technologies by 49.4% in the third quarter. First Hawaiian Bank now owns 44,120 shares of the biopharmaceutical company’s stock worth $848,000 after buying an additional 14,595 shares during the period. Lazard Asset Management LLC bought a new stake in Dynavax Technologies during the 2nd quarter valued at $50,000. SG Americas Securities LLC purchased a new stake in Dynavax Technologies during the 3rd quarter valued at $876,000. Finally, Northern Trust Corp raised its stake in shares of Dynavax Technologies by 1.0% during the second quarter. Northern Trust Corp now owns 1,215,529 shares of the biopharmaceutical company’s stock valued at $11,974,000 after acquiring an additional 11,504 shares during the last quarter. Hedge funds and other institutional investors own 86.79% of the company’s stock.

About Dynavax Technologies (NASDAQ:DVAX)

Dynavax Technologies Corp. operates as a biopharmaceutical company, which engages in the discovery, development, and commercialization of novel vaccines and immuno-oncology therapeutics. Its product includes HEPLISAV-B, which prevents infection caused by all known subtypes of hepatitis B virus in adults 18 years of age and older.

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