Woodline Partners LP Increases Position in Dynavax Technologies Corporation $DVAX

Key Points

• Woodline Partners LP increased its stake in Dynavax Technologies Corporation by 48.4%, holding approximately 1,178,763 shares valued at $15.29 million.
• Dynavax reported a quarterly EPS of $0.14, surpassing estimates and generating revenue of $95.44 million, which was higher than the expected $87.55 million.
• Wall Street analysts have upgraded their ratings on Dynavax, with a consensus price target of $24.33, indicating a positive outlook for the company's stock.

Woodline Partners LP grew its holdings in Dynavax Technologies Corporation (NASDAQ:DVAX - Free Report) by 48.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,178,763 shares of the biopharmaceutical company's stock after purchasing an additional 384,288 shares during the period. Woodline Partners LP owned about 0.98% of Dynavax Technologies worth $15,289,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Northern Trust Corp grew its holdings in shares of Dynavax Technologies by 10.3% in 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 during the last quarter. Comerica Bank boosted its position in Dynavax Technologies by 62.4% in the 4th quarter. Comerica Bank now owns 59,412 shares of the biopharmaceutical company's stock valued at $759,000 after buying an additional 22,831 shares during the period. BNP Paribas Financial Markets grew its stake in Dynavax Technologies by 373.1% in the 4th quarter. BNP Paribas Financial Markets now owns 154,873 shares of the biopharmaceutical company's stock worth $1,978,000 after acquiring an additional 122,136 shares in the last quarter. Deutsche Bank AG increased its position 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 acquiring an additional 41,720 shares during the period. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Dynavax Technologies during the fourth quarter valued at approximately $2,462,000. 96.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DVAX has been the topic of several research analyst reports. Wall Street Zen raised Dynavax Technologies from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. JMP Securities reiterated a "market outperform" rating and issued a $32.00 target price on shares of Dynavax Technologies in a report on Friday, August 22nd. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $24.33.

Dynavax Technologies Stock Down 3.4%

NASDAQ:DVAX traded down $0.33 during midday trading on Friday, reaching $9.41. 1,650,058 shares of the stock traded hands, compared to its average volume of 1,815,138. The stock has a market capitalization of $1.10 billion, a PE ratio of -20.46 and a beta of 1.24. Dynavax Technologies Corporation has a 12-month low of $9.22 and a 12-month high of $14.63. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.01 and a current ratio of 6.65. The business has a 50-day moving average of $10.59 and a two-hundred day moving average of $11.08.

Dynavax Technologies (NASDAQ:DVAX - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. The firm had revenue of $95.44 million during the quarter, compared to analyst estimates of $87.55 million. Dynavax Technologies had a positive return on equity of 5.10% and a negative net margin of 16.67%. On average, equities analysts forecast that Dynavax Technologies Corporation will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Dynavax Technologies news, Director Scott Dunseth Myers purchased 3,800 shares of the stock in a transaction on Friday, August 22nd. The stock was acquired at an average price of $10.82 per share, with a total value of $41,116.00. Following the completion of the acquisition, the director owned 35,004 shares in the company, valued at $378,743.28. The trade was a 12.18% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.98% of the company's stock.

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.