Dynavax Technologies (NASDAQ:DVAX) Shares Gap Up After Earnings Beat

Key Points

• Dynavax Technologies reported $0.14 EPS, exceeding the consensus estimate of $0.12, alongside revenues of $95.44 million compared to an expectation of $87.55 million.
• Following the earnings announcement, the stock gapped up from $11.06 to a high of $12.06 before settling at $10.89.
• Institutional investors now hold approximately 96.96% of Dynavax Technologies' stock, with several firms increasing their stakes during the recent quarter.

Dynavax Technologies Corporation (NASDAQ:DVAX - Get Free Report)'s share price gapped up before the market opened on Friday following a better than expected earnings announcement. The stock had previously closed at $11.06, but opened at $12.06. Dynavax Technologies shares last traded at $10.89, with a volume of 333,786 shares traded.

The biopharmaceutical company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. 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 for the quarter, compared to analyst estimates of $87.55 million.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. JMP Securities increased their price target on Dynavax Technologies from $31.00 to $32.00 and gave the company a "market outperform" rating in a research report on Friday. The Goldman Sachs Group lowered their price target on Dynavax Technologies from $12.00 to $10.00 and set a "sell" rating for the company in a research report on Thursday, April 17th. Finally, Wall Street Zen raised Dynavax Technologies from a "hold" rating to a "buy" rating in a research report on Saturday. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Dynavax Technologies has an average rating of "Moderate Buy" and an average target price of $24.33.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DVAX. Raymond James Financial Inc. bought a new position in Dynavax Technologies in the 4th quarter valued at $192,000. O Shaughnessy Asset Management LLC bought a new position in shares of Dynavax Technologies during the 4th quarter worth $131,000. Franklin Resources Inc. grew its stake in shares of Dynavax Technologies by 5.2% during the 4th quarter. Franklin Resources Inc. now owns 86,675 shares of the biopharmaceutical company's stock worth $1,107,000 after acquiring an additional 4,260 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Dynavax Technologies by 20.9% during the 4th quarter. Envestnet Asset Management Inc. now owns 16,162 shares of the biopharmaceutical company's stock worth $206,000 after acquiring an additional 2,796 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in shares of Dynavax Technologies by 96.5% during the 4th quarter. Russell Investments Group Ltd. now owns 2,381 shares of the biopharmaceutical company's stock worth $30,000 after acquiring an additional 1,169 shares during the period. Institutional investors own 96.96% of the company's stock.

Dynavax Technologies Price Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 10.84 and a current ratio of 11.93. The company has a market cap of $1.24 billion, a P/E ratio of -22.46 and a beta of 1.09. The firm has a 50 day moving average price of $10.50 and a two-hundred day moving average price of $11.55.

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.