Dynavax Technologies Corporation (DVAX) Sees Unusually-High Trading Volume
Shares of Dynavax Technologies Corporation (NASDAQ:DVAX) saw strong trading volume on Friday . 6,484,831 shares changed hands during mid-day trading, an increase of 126% from the previous session’s volume of 2,870,920 shares.The stock last traded at $20.80 and had previously closed at $20.65.
Several equities research analysts have recently issued reports on the company. Cowen and Company reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Dynavax Technologies Corporation in a report on Thursday, August 10th. Zacks Investment Research raised Dynavax Technologies Corporation from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a report on Monday, July 10th. BidaskClub cut Dynavax Technologies Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. William Blair reaffirmed an “outperform” rating and issued a $30.00 target price on shares of Dynavax Technologies Corporation in a report on Wednesday, August 9th. Finally, J P Morgan Chase & Co raised Dynavax Technologies Corporation from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $6.00 to $27.00 in a report on Monday, July 31st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $24.67.
The stock’s market cap is $1.14 billion. The stock has a 50 day moving average of $17.37 and a 200 day moving average of $9.52.
Dynavax Technologies Corporation (NASDAQ:DVAX) last released its quarterly earnings results on Wednesday, August 2nd. The biopharmaceutical company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.50) by $0.09. Dynavax Technologies Corporation had a negative net margin of 1,323.99% and a negative return on equity of 92.09%. The firm had revenue of $0.11 million during the quarter, compared to the consensus estimate of $0.15 million. During the same quarter in the prior year, the firm earned ($0.75) EPS. Equities analysts anticipate that Dynavax Technologies Corporation will post ($1.58) EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC raised its holdings in Dynavax Technologies Corporation by 54.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 10,493 shares of the biopharmaceutical company’s stock valued at $101,000 after acquiring an additional 3,700 shares during the last quarter. Patriot Financial Group Insurance Agency LLC raised its holdings in Dynavax Technologies Corporation by 16.5% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 12,000 shares of the biopharmaceutical company’s stock valued at $108,000 after acquiring an additional 1,700 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in Dynavax Technologies Corporation in the 1st quarter valued at about $121,000. Bank of America Corp DE raised its holdings in Dynavax Technologies Corporation by 2.3% in the 1st quarter. Bank of America Corp DE now owns 20,356 shares of the biopharmaceutical company’s stock valued at $121,000 after acquiring an additional 456 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in Dynavax Technologies Corporation by 18.5% in the 2nd quarter. Legal & General Group Plc now owns 12,501 shares of the biopharmaceutical company’s stock valued at $121,000 after acquiring an additional 1,950 shares during the last quarter. Hedge funds and other institutional investors own 60.23% of the company’s stock.
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About Dynavax Technologies Corporation
Dynavax Technologies Corporation is a clinical-stage immunotherapy company. The Company is focused on leveraging the body’s innate and adaptive immune responses through toll-like receptor (TLR) stimulation. Its product candidates are being investigated for use in multiple cancer indications, as a vaccine for the prevention of hepatitis B and as a disease modifying therapy for asthma.
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