Dynavax Technologies Corp. (DVAX) Short Interest Up 45.6% in September
Dynavax Technologies Corp. (NASDAQ:DVAX) was the target of a large increase in short interest in September. As of September 15th, there was short interest totalling 9,963,867 shares, an increase of 45.6% from the August 31st total of 6,844,138 shares. Approximately 26.9% of the company’s stock are short sold. Based on an average daily volume of 4,269,436 shares, the short-interest ratio is currently 2.3 days.
Dynavax Technologies Corp. (NASDAQ:DVAX) opened at 10.87 on Wednesday. The firm’s market capitalization is $418.46 million. Dynavax Technologies Corp. has a one year low of $10.11 and a one year high of $29.86. The firm’s 50-day moving average is $13.36 and its 200 day moving average is $15.82.
Dynavax Technologies Corp. (NASDAQ:DVAX) last posted its earnings results on Friday, August 5th. The biopharmaceutical company reported ($0.75) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.68) by $0.07. The business earned $2.65 million during the quarter, compared to analyst estimates of $1.58 million. Dynavax Technologies Corp. had a negative net margin of 2,068.75% and a negative return on equity of 64.43%. Dynavax Technologies Corp.’s revenue was up 70.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.80) earnings per share. Analysts forecast that Dynavax Technologies Corp. will post ($2.96) EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of DVAX. State Street Corp boosted its stake in Dynavax Technologies Corp. by 49.1% in the first quarter. State Street Corp now owns 1,665,452 shares of the biopharmaceutical company’s stock worth $32,038,000 after buying an additional 548,310 shares during the period. Vanguard Group Inc. boosted its stake in Dynavax Technologies Corp. by 2.3% in the second quarter. Vanguard Group Inc. now owns 1,521,695 shares of the biopharmaceutical company’s stock worth $22,187,000 after buying an additional 33,834 shares during the period. BlackRock Fund Advisors boosted its stake in Dynavax Technologies Corp. by 6.6% in the second quarter. BlackRock Fund Advisors now owns 1,013,173 shares of the biopharmaceutical company’s stock worth $14,772,000 after buying an additional 62,391 shares during the period. Franklin Resources Inc. boosted its stake in Dynavax Technologies Corp. by 19.7% in the first quarter. Franklin Resources Inc. now owns 978,730 shares of the biopharmaceutical company’s stock worth $18,831,000 after buying an additional 161,400 shares during the period. Finally, Cormorant Asset Management LLC boosted its stake in Dynavax Technologies Corp. by 69.6% in the first quarter. Cormorant Asset Management LLC now owns 975,000 shares of the biopharmaceutical company’s stock worth $18,759,000 after buying an additional 400,000 shares during the period. Hedge funds and other institutional investors own 83.82% of the company’s stock.
DVAX has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Dynavax Technologies Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, September 14th. Cowen and Company reaffirmed an “outperform” rating and set a $45.00 price target on shares of Dynavax Technologies Corp. in a report on Tuesday, September 6th. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and set a $16.00 price target on shares of Dynavax Technologies Corp. in a report on Wednesday, September 7th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $25.86.
About Dynavax Technologies Corp.
Dynavax Technologies Corporation (Dynavax) is a clinical-stage biopharmaceutical company. The Company uses toll-like receptor (TLR) biology to discover and develop vaccines and therapeutics. Its development programs are focused on vaccines and cancer immunotherapy. The Company’s lead vaccine product candidate is HEPLISAV-B, an investigational adult hepatitis B vaccine, which combines its TLR9 agonist adjuvant and recombinant hepatitis B surface antigen (rHBsAg).
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