Public Sector Pension Investment Board Grows Stake in Dynavax Technologies Corporation $DVAX

Key Points

• The Public Sector Pension Investment Board increased its stake in Dynavax Technologies by 27.0%, owning approximately 0.32% of the company worth $5,028,000 after acquiring 82,434 shares in the 1st quarter.
• Analysts have recently upgraded Dynavax Technologies' stock, with a consensus rating of "Moderate Buy" and a target price set at $24.33.
• Dynavax Technologies reported earnings that exceeded expectations, with $0.14 earnings per share and revenue of $95.44 million for the last quarter, beating the consensus estimate by $7.89 million.

Public Sector Pension Investment Board increased its position in shares of Dynavax Technologies Corporation (NASDAQ:DVAX - Free Report) by 27.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 387,660 shares of the biopharmaceutical company's stock after purchasing an additional 82,434 shares during the quarter. Public Sector Pension Investment Board owned 0.32% of Dynavax Technologies worth $5,028,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of DVAX. Deep Track Capital LP raised its position in Dynavax Technologies by 42.0% during 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 acquiring an additional 5,265,000 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its stake in Dynavax Technologies by 23,990.1% during the fourth 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 buying an additional 5,172,263 shares during the last quarter. Invesco Ltd. boosted its stake in Dynavax Technologies by 33.8% during the first quarter. Invesco Ltd. now owns 2,207,631 shares of the biopharmaceutical company's stock worth $28,633,000 after buying an additional 558,046 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its stake in shares of Dynavax Technologies by 34.0% in the 4th 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 last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Dynavax Technologies in the 1st quarter valued at $4,370,000. Institutional investors and hedge funds own 96.96% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on DVAX shares. JMP Securities reiterated a "market outperform" rating and issued a $32.00 price objective on shares of Dynavax Technologies in a report on Friday. Wall Street Zen upgraded Dynavax Technologies from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. 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 Stock Performance

Shares of NASDAQ DVAX traded down $0.2250 during trading hours on Friday, reaching $10.7250. The stock had a trading volume of 980,848 shares, compared to its average volume of 2,073,138. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of -23.32 and a beta of 1.09. The company has a current ratio of 6.65, a quick ratio of 6.01 and a debt-to-equity ratio of 0.45. Dynavax Technologies Corporation has a fifty-two week low of $9.22 and a fifty-two week high of $14.63. The firm has a 50-day moving average of $10.60 and a 200-day moving average of $11.43.

Dynavax Technologies (NASDAQ:DVAX - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $0.14 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.02. The company had revenue of $95.44 million during the quarter, compared to analysts' expectations of $87.55 million. Dynavax Technologies had a positive return on equity of 5.10% and a negative net margin of 16.67%. 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.