Dynavax Technologies (NASDAQ:DVAX) Issues Earnings Results

Key Points

• Dynavax Technologies reported earnings of $0.14 per share, exceeding analyst expectations of $0.12, with quarterly revenue of $95.44 million outpacing the forecast of $87.55 million.
• The company's stock recently traded down to $10.33, with analysts offering a mixed outlook: JMP Securities raised its price target to $32, while Goldman Sachs cut its target from $12 to $10, assigning a "sell" rating.
• Approximately 96.96% of Dynavax's shares are held by hedge funds and institutional investors, indicating strong interest from large investment entities.

Dynavax Technologies (NASDAQ:DVAX - Get Free Report) posted its quarterly earnings data on Thursday. The biopharmaceutical company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.02, Zacks reports. Dynavax Technologies had a positive return on equity of 4.87% and a negative net margin of 16.67%. The company had revenue of $95.44 million during the quarter, compared to analysts' expectations of $87.55 million.

Dynavax Technologies Stock Performance

Shares of DVAX stock traded down $0.73 during trading hours on Friday, reaching $10.33. 4,776,516 shares of the company's stock were exchanged, compared to its average volume of 1,250,229. Dynavax Technologies has a 1 year low of $9.22 and a 1 year high of $14.63. The company has a market cap of $1.24 billion, a P/E ratio of -22.46 and a beta of 1.09. The company's 50 day moving average is $10.50 and its two-hundred day moving average is $11.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 11.93 and a quick ratio of 10.84.

Analyst Upgrades and Downgrades

DVAX has been the subject of a number of recent research reports. JMP Securities increased their price objective on Dynavax Technologies from $31.00 to $32.00 and gave the stock a "market outperform" rating in a research report on Friday. Wall Street Zen raised Dynavax Technologies from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, The Goldman Sachs Group cut their target price on Dynavax Technologies from $12.00 to $10.00 and set a "sell" rating for the company in a research note on Thursday, April 17th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $24.33.

Hedge Funds Weigh In On Dynavax Technologies

Several hedge funds have recently bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Dynavax Technologies by 1.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 86,421 shares of the biopharmaceutical company's stock valued at $1,126,000 after purchasing an additional 1,625 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Dynavax Technologies in the 1st quarter valued at approximately $180,000. Caxton Associates LLP purchased a new position in Dynavax Technologies in the 1st quarter valued at approximately $225,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Dynavax Technologies by 7.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 450,089 shares of the biopharmaceutical company's stock valued at $5,838,000 after purchasing an additional 29,764 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.

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