Cubist Systematic Strategies LLC Boosts Holdings in Dynavax Technologies Corporation $DVAX

Key Points

• Cubist Systematic Strategies LLC has significantly increased its stake in Dynavax Technologies by 237.4%, now owning 656,541 shares worth approximately $8.5 million.
• Dynavax Technologies reported Q2 earnings of $0.14 per share, surpassing analysts' expectations, and achieved revenues of $95.44 million.
• Analysts have rated Dynavax Technologies with an average rating of "Moderate Buy" and a consensus target price of $24.33.

Cubist Systematic Strategies LLC boosted its position in shares of Dynavax Technologies Corporation (NASDAQ:DVAX - Free Report) by 237.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 656,541 shares of the biopharmaceutical company's stock after buying an additional 461,980 shares during the period. Cubist Systematic Strategies LLC owned 0.55% of Dynavax Technologies worth $8,515,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Deep Track Capital LP increased its holdings in shares of Dynavax Technologies by 42.0% in the fourth quarter. Deep Track Capital LP now owns 17,791,486 shares of the biopharmaceutical company's stock valued at $227,197,000 after purchasing an additional 5,265,000 shares during the period. Deerfield Management Company L.P. Series C increased its holdings in shares of Dynavax Technologies by 23,990.1% in the fourth quarter. Deerfield Management Company L.P. Series C now owns 5,193,823 shares of the biopharmaceutical company's stock valued at $66,325,000 after purchasing an additional 5,172,263 shares during the period. Invesco Ltd. increased its holdings in shares of Dynavax Technologies by 33.8% in the first quarter. Invesco Ltd. now owns 2,207,631 shares of the biopharmaceutical company's stock valued at $28,633,000 after purchasing an additional 558,046 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in shares of Dynavax Technologies by 34.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,918,340 shares of the biopharmaceutical company's stock valued at $24,497,000 after purchasing an additional 486,981 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Dynavax Technologies in the first quarter valued at approximately $4,370,000. Institutional investors and hedge funds own 96.96% of the company's stock.

Insider Buying and Selling at Dynavax Technologies

In related news, Director Scott Dunseth Myers purchased 3,800 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was bought at an average cost of $10.82 per share, with a total value of $41,116.00. Following the completion of the acquisition, the director directly owned 35,004 shares in the company, valued at $378,743.28. The trade was a 12.18% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.98% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on DVAX shares. JMP Securities reissued a "market outperform" rating and issued a $32.00 target price on shares of Dynavax Technologies in a report on Friday, August 22nd. Wall Street Zen upgraded Dynavax Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Dynavax Technologies currently has an average rating of "Moderate Buy" and an average price target of $24.33.

Dynavax Technologies Price Performance

DVAX traded down $0.37 during trading on Monday, reaching $9.70. 1,068,898 shares of the stock were exchanged, compared to its average volume of 2,073,236. The business's 50 day moving average price is $10.63 and its two-hundred day moving average price is $11.19. The company has a debt-to-equity ratio of 0.45, a current ratio of 6.65 and a quick ratio of 6.01. The company has a market capitalization of $1.14 billion, a price-to-earnings ratio of -21.10 and a beta of 1.24. 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 posted its earnings results on Thursday, August 7th. The biopharmaceutical company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $95.44 million for the quarter, compared to the consensus estimate of $87.55 million. Dynavax Technologies had a positive return on equity of 5.10% and a negative net margin of 16.67%. As a group, equities research analysts anticipate that Dynavax Technologies Corporation will post 0.32 earnings per share for the current year.

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.