Victory Capital Management Inc. Sells 32,496 Shares of Dynavax Technologies Corporation (NASDAQ:DVAX)

Key Points

• Victory Capital Management Inc. has reduced its stake in Dynavax Technologies Corporation by 19.1%, selling 32,496 shares, and now owns 137,234 shares valued at approximately $1.78 million.
• Dynavax reported a quarterly loss with an EPS of ($0.11), falling short of analysts' expectations, and had revenues of $68.16 million, below the expected $70.01 million.
• Equities analysts have mixed ratings on Dynavax, with a consensus rating of "Hold" and an average price target of $24.00, despite a recent downgrade from a "buy" to a "hold" rating by Wall Street Zen.

Victory Capital Management Inc. trimmed its position in Dynavax Technologies Corporation (NASDAQ:DVAX - Free Report) by 19.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,234 shares of the biopharmaceutical company's stock after selling 32,496 shares during the quarter. Victory Capital Management Inc. owned 0.11% of Dynavax Technologies worth $1,780,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of DVAX. Deep Track Capital LP grew its stake in 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 valued at $227,197,000 after purchasing an additional 5,265,000 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its position in 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 valued at $66,325,000 after purchasing an additional 5,172,263 shares during the period. Norges Bank bought a new stake in Dynavax Technologies during the 4th quarter valued at $7,762,000. D. E. Shaw & Co. Inc. raised 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 worth $24,497,000 after buying an additional 486,981 shares in the last quarter. Finally, Trexquant Investment LP grew its holdings in shares of Dynavax Technologies by 48.7% in the 4th quarter. Trexquant Investment LP now owns 776,397 shares of the biopharmaceutical company's stock worth $9,915,000 after acquiring an additional 254,405 shares during the last quarter. 96.96% of the stock is currently owned by hedge funds and other institutional investors.

Dynavax Technologies Stock Down 1.1%

Shares of NASDAQ DVAX traded down $0.12 during mid-day trading on Friday, hitting $10.86. The company had a trading volume of 1,284,624 shares, compared to its average volume of 2,116,296. Dynavax Technologies Corporation has a one year low of $9.22 and a one year high of $14.63. The company has a current ratio of 11.93, a quick ratio of 10.84 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $1.30 billion, a PE ratio of -20.88 and a beta of 1.03. The firm has a 50-day simple moving average of $10.36 and a two-hundred day simple moving average of $11.62.

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

Wall Street Analyst Weigh In

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

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.