Dynavax Technologies' (DVAX) Market Outperform Rating Reaffirmed at JMP Securities

Key Points

• Dynavax Technologies received a "market outperform" rating and a price target of $32.00 from JMP Securities, indicating a potential upside of 192.24% from its current price.
• The company recently reported an EPS of $0.14, surpassing expectations and demonstrating a healthy revenue of $95.44 million for the quarter.
• Institutional and hedge fund ownership is significant, with 96.96% of shares held by these investors, reflecting confidence in Dynavax's potential.

Dynavax Technologies (NASDAQ:DVAX - Get Free Report)'s stock had its "market outperform" rating reissued by investment analysts at JMP Securities in a report released on Friday,Benzinga reports. They presently have a $32.00 price objective on the biopharmaceutical company's stock. JMP Securities' price target suggests a potential upside of 212.96% from the company's current price.

Separately, Wall Street Zen upgraded shares of Dynavax Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Dynavax Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.33.

Dynavax Technologies Price Performance

Shares of Dynavax Technologies stock traded down $0.22 on Friday, hitting $10.23. 609,888 shares of the company traded hands, compared to its average volume of 2,087,042. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.01 and a current ratio of 6.65. The stock has a market capitalization of $1.20 billion, a P/E ratio of -22.21 and a beta of 1.09. Dynavax Technologies has a 52 week low of $9.22 and a 52 week high of $14.63. The business has a 50-day simple moving average of $10.61 and a 200 day simple moving average of $11.36.

Dynavax Technologies (NASDAQ:DVAX - Get Free Report) last posted its earnings results on Thursday, August 7th. The biopharmaceutical company reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.02. The firm had revenue of $95.44 million during the quarter, compared to analyst estimates of $87.55 million. Dynavax Technologies had a negative net margin of 16.67% and a positive return on equity of 5.10%. Research analysts expect that Dynavax Technologies will post 0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Scott Dunseth Myers acquired 3,800 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average cost of $10.82 per share, with a total value of $41,116.00. Following the transaction, the director directly owned 35,004 shares of the company's stock, valued at $378,743.28. This trade represents a 12.18% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dynavax Technologies

Several institutional investors have recently made changes to their positions in the company. Squarepoint Ops LLC grew its stake in Dynavax Technologies by 222.3% in the 2nd quarter. Squarepoint Ops LLC now owns 435,577 shares of the biopharmaceutical company's stock valued at $4,321,000 after acquiring an additional 300,421 shares during the period. State of Wyoming purchased a new stake in shares of Dynavax Technologies in the 2nd quarter valued at approximately $304,000. Hudson Bay Capital Management LP lifted its stake in shares of Dynavax Technologies by 46.4% in the 2nd quarter. Hudson Bay Capital Management LP now owns 541,600 shares of the biopharmaceutical company's stock valued at $5,373,000 after purchasing an additional 171,700 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Dynavax Technologies by 319.8% during the second quarter. Tower Research Capital LLC TRC now owns 16,239 shares of the biopharmaceutical company's stock valued at $161,000 after acquiring an additional 12,371 shares during the last quarter. Finally, E Fund Management Co. Ltd. grew its stake in shares of Dynavax Technologies by 17.9% in the second quarter. E Fund Management Co. Ltd. now owns 18,113 shares of the biopharmaceutical company's stock valued at $180,000 after buying an additional 2,752 shares in the last quarter. 96.96% of the stock is owned by hedge funds and other institutional investors.

Dynavax Technologies Company Profile

Dynavax Technologies Corporation, a commercial stage biopharmaceutical company, focuses on developing and commercializing vaccines in the United States. It markets HEPLISAV-B, a hepatitis B vaccine for prevention of infection caused by all known subtypes of hepatitis B virus in age 18 years and older in the United States and Europe.