Dynavax Technologies (NASDAQ:DVAX) Reaches New 52-Week Low - Here's What Happened

Key Points

• Dynavax Technologies' stock hit a new 52-week low at $9.20, down from a previous close of $9.41, with over 1 million shares traded.
• Despite the stock's decline, several Wall Street analysts have upgraded their ratings, with a consensus rating of "Moderate Buy" and a target price of $24.33.
• In the latest earnings report, Dynavax reported a profit of $0.14 EPS, exceeding analysts' expectations, alongside a revenue of $95.44 million for the quarter.

Dynavax Technologies Corporation (NASDAQ:DVAX - Get Free Report)'s share price reached a new 52-week low on Monday . The stock traded as low as $9.20 and last traded at $9.27, with a volume of 1065095 shares trading hands. The stock had previously closed at $9.41.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wall Street Zen upgraded Dynavax Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. JMP Securities restated a "market outperform" rating and issued a $32.00 target price on shares of Dynavax Technologies in a research note on Friday, August 22nd. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Dynavax Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $24.33.

Dynavax Technologies Stock Down 0.5%

The company has a market cap of $1.10 billion, a price-to-earnings ratio of -20.35 and a beta of 1.24. The company has a current ratio of 6.65, a quick ratio of 6.01 and a debt-to-equity ratio of 0.45. The business has a fifty day moving average of $10.57 and a two-hundred day moving average of $11.03.

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

Insider Activity at Dynavax Technologies

In related news, Director Scott Dunseth Myers purchased 3,800 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average price of $10.82 per share, with a total value of $41,116.00. Following the completion of the acquisition, the director owned 35,004 shares in the company, valued at $378,743.28. This trade represents a 12.18% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.98% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Osaic Holdings Inc. boosted its position in shares of Dynavax Technologies by 15.1% during the second quarter. Osaic Holdings Inc. now owns 9,336 shares of the biopharmaceutical company's stock worth $93,000 after buying an additional 1,226 shares during the period. Squarepoint Ops LLC boosted its position in shares of Dynavax Technologies by 222.3% during the second quarter. Squarepoint Ops LLC now owns 435,577 shares of the biopharmaceutical company's stock worth $4,321,000 after buying an additional 300,421 shares during the period. State of Wyoming purchased a new position in shares of Dynavax Technologies during the second quarter worth $304,000. Hudson Bay Capital Management LP boosted its position in shares of Dynavax Technologies by 46.4% during the second quarter. Hudson Bay Capital Management LP now owns 541,600 shares of the biopharmaceutical company's stock worth $5,373,000 after buying an additional 171,700 shares during the period. Finally, Tower Research Capital LLC TRC boosted 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 worth $161,000 after buying an additional 12,371 shares during the period. 96.96% of the stock is currently owned by hedge funds and other institutional investors.

About Dynavax Technologies

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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