Jacobs Levy Equity Management Inc. Buys New Position in Dynavax Technologies Corporation $DVAX

Key Points

• Jacobs Levy Equity Management Inc. has acquired a new stake in Dynavax Technologies Corporation, purchasing 191,005 shares valued at approximately $2.48 million.
• Institutional investors own a significant 96.96% of the company, indicating strong interest in Dynavax's stock.
• Analysts maintain a consensus rating of "Moderate Buy" for Dynavax, with a target price of approximately $24.33, highlighting positive investor sentiment.

Jacobs Levy Equity Management Inc. bought a new stake in shares of Dynavax Technologies Corporation (NASDAQ:DVAX - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 191,005 shares of the biopharmaceutical company's stock, valued at approximately $2,477,000. Jacobs Levy Equity Management Inc. owned approximately 0.16% of Dynavax Technologies as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in DVAX. Raymond James Financial Inc. purchased a new position in Dynavax Technologies during the 4th quarter valued at about $192,000. Northern Trust Corp grew its holdings in shares of Dynavax Technologies by 10.3% during the fourth quarter. Northern Trust Corp now owns 1,457,848 shares of the biopharmaceutical company's stock worth $18,617,000 after purchasing an additional 135,826 shares in the last quarter. Comerica Bank grew its holdings in shares of Dynavax Technologies by 62.4% during the fourth quarter. Comerica Bank now owns 59,412 shares of the biopharmaceutical company's stock worth $759,000 after purchasing an additional 22,831 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Dynavax Technologies by 373.1% during the fourth quarter. BNP Paribas Financial Markets now owns 154,873 shares of the biopharmaceutical company's stock worth $1,978,000 after purchasing an additional 122,136 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Dynavax Technologies by 49.3% during the fourth quarter. Deutsche Bank AG now owns 126,398 shares of the biopharmaceutical company's stock worth $1,614,000 after purchasing an additional 41,720 shares in the last quarter. Hedge funds and other institutional investors own 96.96% of the company's stock.

Dynavax Technologies Trading Down 1.4%

DVAX stock traded down $0.14 during midday trading on Monday, hitting $9.28. The company had a trading volume of 300,506 shares, compared to its average volume of 2,064,017. 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 52 week low of $9.22 and a 52 week high of $14.63. The stock's 50 day moving average price is $10.59 and its 200 day moving average price is $11.06. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -20.16 and a beta of 1.24.

Dynavax Technologies (NASDAQ:DVAX - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $0.14 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $95.44 million during the quarter, compared to the consensus estimate of $87.55 million. As a group, equities research analysts expect that Dynavax Technologies Corporation will post 0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Scott Dunseth Myers acquired 3,800 shares of the stock in a transaction on Friday, August 22nd. The stock was purchased at an average price of $10.82 per share, for a total transaction of $41,116.00. Following the completion of the transaction, the director owned 35,004 shares of the company's stock, valued at $378,743.28. This trade represents a 12.18% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.98% of the company's stock.

Analysts Set New Price Targets

DVAX has been the subject of several recent analyst reports. Wall Street Zen raised Dynavax Technologies from a "hold" rating to a "buy" rating in a report 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 report on Friday, August 22nd. 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, the company currently has an average rating of "Moderate Buy" and a consensus price target of $24.33.

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.