Victory Capital Management Inc. Reduces Position in 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. reduced its position in Dynavax Technologies Corporation (NASDAQ:DVAX - Free Report) by 19.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,234 shares of the biopharmaceutical company's stock after selling 32,496 shares during the period. Victory Capital Management Inc. owned about 0.11% of Dynavax Technologies worth $1,780,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Russell Investments Group Ltd. increased its position in Dynavax Technologies by 96.5% during the fourth quarter. Russell Investments Group Ltd. now owns 2,381 shares of the biopharmaceutical company's stock worth $30,000 after buying an additional 1,169 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new stake in shares of Dynavax Technologies during the first quarter worth $30,000. GF Fund Management CO. LTD. acquired a new stake in shares of Dynavax Technologies during the fourth quarter worth $35,000. GAMMA Investing LLC boosted its holdings in shares of Dynavax Technologies by 88.4% during the first quarter. GAMMA Investing LLC now owns 7,729 shares of the biopharmaceutical company's stock worth $100,000 after purchasing an additional 3,627 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC acquired a new stake in shares of Dynavax Technologies during the fourth quarter worth $131,000. 96.96% of the stock is owned by hedge funds and other institutional investors.

Dynavax Technologies Trading Down 1.1%

Dynavax Technologies stock traded down $0.12 during midday trading on Friday, reaching $10.86. The stock had a trading volume of 1,284,624 shares, compared to its average volume of 1,286,331. Dynavax Technologies Corporation has a twelve month low of $9.22 and a twelve month high of $14.63. The stock has a market capitalization of $1.30 billion, a PE ratio of -20.88 and a beta of 1.03. The company has a debt-to-equity ratio of 0.49, a quick ratio of 10.84 and a current ratio of 11.93. The stock's 50-day simple moving average is $10.38 and its 200 day simple moving average is $11.61.

Dynavax Technologies (NASDAQ:DVAX - Get Free Report) last issued its 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). Dynavax Technologies had a negative net margin of 20.39% and a positive return on equity of 3.59%. The firm had revenue of $68.16 million during the quarter, compared to analyst estimates of $70.01 million. Analysts expect that Dynavax Technologies Corporation will post 0.32 EPS for the current year.

Wall Street Analyst Weigh In

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

Dynavax Technologies Company 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.