Dynavax Technologies Corp. (NASDAQ:DVAX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

According to Zacks, “Dynavax Technologies discovers, develops, and intends to commercialize innovative products to treat and prevent allergies, infectious diseases, and chronic inflammatory diseases using versatile, proprietary approaches that alter immune system responses in highly specific ways. Dynavax’s clinical development programs are based on immunostimulatory sequences which are short DNA sequences that enhance the ability of the immune system to fight disease and control chronic inflammation. “

Other analysts have also issued reports about the stock. S&P Equity Research increased their price target on shares of Dynavax Technologies Corp. from $11.28 to $16.01 in a research report on Friday, September 2nd. William Blair reissued a “buy” rating and set a $45.00 price target on shares of Dynavax Technologies Corp. in a research report on Tuesday, September 6th. RBC Capital Markets reissued a “sector perform” rating and set a $16.00 price target on shares of Dynavax Technologies Corp. in a research report on Wednesday, September 7th. Finally, Cowen and Company reissued an “outperform” rating and set a $45.00 price target on shares of Dynavax Technologies Corp. in a research report on Tuesday, September 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. Dynavax Technologies Corp. currently has a consensus rating of “Hold” and an average target price of $20.14.

Analyst Recommendations for Dynavax Technologies Corp. (NASDAQ:DVAX)

Shares of Dynavax Technologies Corp. (NASDAQ:DVAX) traded up 9.47% on Tuesday, reaching $5.20. 3,218,660 shares of the company were exchanged. The company’s market capitalization is $200.34 million. Dynavax Technologies Corp. has a 52 week low of $3.20 and a 52 week high of $29.86. The company’s 50-day moving average is $9.47 and its 200-day moving average is $13.33.

Dynavax Technologies Corp. (NASDAQ:DVAX) last posted its quarterly earnings results on Monday, November 7th. The biopharmaceutical company reported ($0.90) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.75) by $0.15. The company earned $0.20 million during the quarter, compared to the consensus estimate of $2.44 million. Dynavax Technologies Corp. had a negative return on equity of 78.57% and a negative net margin of 2,650.25%. The company’s revenue for the quarter was down 83.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.82) earnings per share. On average, equities analysts expect that Dynavax Technologies Corp. will post ($3.21) EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of DVAX. State Street Corp raised its stake in shares of 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 valued at $32,038,000 after buying an additional 548,310 shares during the period. Panagora Asset Management Inc. raised its stake in shares of Dynavax Technologies Corp. by 110.4% in the first quarter. Panagora Asset Management Inc. now owns 272,501 shares of the biopharmaceutical company’s stock valued at $5,243,000 after buying an additional 142,974 shares during the period. GW&K Investment Management LLC raised its stake in shares of Dynavax Technologies Corp. by 13.3% in the second quarter. GW&K Investment Management LLC now owns 160,213 shares of the biopharmaceutical company’s stock valued at $2,336,000 after buying an additional 18,794 shares during the period. Fox Run Management L.L.C. bought a new stake in shares of Dynavax Technologies Corp. during the second quarter valued at about $295,000. Finally, Nordea Investment Management AB raised its stake in shares of Dynavax Technologies Corp. by 472.5% in the second quarter. Nordea Investment Management AB now owns 43,513 shares of the biopharmaceutical company’s stock valued at $634,000 after buying an additional 35,913 shares during the period. Hedge funds and other institutional investors own 86.80% of the company’s stock.

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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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