Bank of New York Mellon Corp Sells 40,282 Shares of Dynavax Technologies Corporation (NASDAQ:DVAX)

Bank of New York Mellon Corp lowered its stake in shares of Dynavax Technologies Corporation (NASDAQ:DVAX - Free Report) by 4.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 891,046 shares of the biopharmaceutical company's stock after selling 40,282 shares during the period. Bank of New York Mellon Corp owned 0.73% of Dynavax Technologies worth $11,557,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of DVAX. Deep Track Capital LP increased its stake in shares of Dynavax Technologies by 42.0% during the 4th quarter. Deep Track Capital LP now owns 17,791,486 shares of the biopharmaceutical company's stock worth $227,197,000 after purchasing an additional 5,265,000 shares during the last quarter. Deerfield Management Company L.P. Series C increased its stake in shares of Dynavax Technologies by 23,990.1% during the 4th quarter. Deerfield Management Company L.P. Series C now owns 5,193,823 shares of the biopharmaceutical company's stock worth $66,325,000 after purchasing an additional 5,172,263 shares during the last quarter. Norges Bank purchased a new stake in shares of Dynavax Technologies during the 4th quarter worth approximately $7,762,000. D. E. Shaw & Co. Inc. increased its stake in shares of Dynavax Technologies by 34.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,918,340 shares of the biopharmaceutical company's stock worth $24,497,000 after purchasing an additional 486,981 shares during the last quarter. Finally, WINTON GROUP Ltd increased its stake in shares of Dynavax Technologies by 339.0% during the 4th quarter. WINTON GROUP Ltd now owns 426,814 shares of the biopharmaceutical company's stock worth $5,450,000 after purchasing an additional 329,579 shares during the last quarter. Hedge funds and other institutional investors own 96.96% of the company's stock.

Wall Street Analysts Forecast Growth

DVAX has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their price objective on shares of Dynavax Technologies from $12.00 to $10.00 and set a "sell" rating for the company in a research note on Thursday, April 17th. Wall Street Zen lowered shares of Dynavax Technologies from a "buy" rating to a "hold" rating in a research note on Tuesday, May 6th. Finally, JMP Securities reduced their price objective on shares of Dynavax Technologies from $33.00 to $31.00 and set a "market outperform" rating for the company in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Dynavax Technologies currently has a consensus rating of "Hold" and a consensus price target of $24.00.

Dynavax Technologies Price Performance

Shares of DVAX traded down $0.19 during mid-day trading on Thursday, reaching $11.16. 770,241 shares of the stock traded hands, compared to its average volume of 1,556,513. The firm has a fifty day moving average price of $10.23 and a 200 day moving average price of $11.67. The company has a market cap of $1.34 billion, a price-to-earnings ratio of -21.46 and a beta of 1.03. The company has a current ratio of 11.93, a quick ratio of 10.84 and a debt-to-equity ratio of 0.49. Dynavax Technologies Corporation has a 1 year low of $9.22 and a 1 year high of $14.63.

Dynavax Technologies (NASDAQ:DVAX - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($0.11) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.14). The firm had revenue of $68.16 million for the quarter, compared to analysts' expectations of $70.01 million. Dynavax Technologies had a negative net margin of 20.39% and a positive return on equity of 3.59%. As a group, equities research analysts predict that Dynavax Technologies Corporation will post 0.32 earnings per share for the current year.

Dynavax Technologies 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.