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Zacks Investment Research Downgrades Dynavax Technologies (NASDAQ:DVAX) to Hold

Last updated on Wednesday, July 8th, 2020 by MarketBeat

Dynavax Technologies (NASDAQ:DVAX) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, "Dynavax Technologies discovers, develops, and intends to commercialize innovative products to treat and prevent allergies, infectious diseases, and chronic inflammatory diseases using versatile, proprietary approaches that alter immune system responses in highly specific ways. Dynavax's clinical development programs are based on immunostimulatory sequences which are short DNA sequences that enhance the ability of the immune system to fight disease and control chronic inflammation. "

DVAX has been the subject of a number of other reports. Evercore ISI began coverage on shares of Dynavax Technologies in a research report on Monday, June 15th. They set an "outperform" rating and a $14.00 price target for the company. Cowen reiterated a "buy" rating and set a $20.00 price target on shares of Dynavax Technologies in a research report on Friday, June 19th. ValuEngine downgraded Dynavax Technologies from a "buy" rating to a "hold" rating in a research report on Thursday, July 2nd. William Blair restated a "buy" rating on shares of Dynavax Technologies in a research report on Friday, March 13th. Finally, HC Wainwright restated a "buy" rating and set a $12.00 price objective on shares of Dynavax Technologies in a research report on Friday, June 19th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Dynavax Technologies has an average rating of "Buy" and an average target price of $15.10.

Shares of DVAX stock traded up $0.60 during midday trading on Wednesday, reaching $9.42. 8,378,365 shares of the company traded hands, compared to its average volume of 3,908,156. The firm's 50 day simple moving average is $6.77 and its two-hundred day simple moving average is $5.08. Dynavax Technologies has a 1-year low of $1.80 and a 1-year high of $9.74. The company has a debt-to-equity ratio of 18.31, a current ratio of 6.63 and a quick ratio of 4.99. The firm has a market cap of $840.68 million, a PE ratio of -5.12 and a beta of 1.20.

Dynavax Technologies (NASDAQ:DVAX) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.35) earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of ($0.31) by ($0.04). Dynavax Technologies had a negative net margin of 310.97% and a negative return on equity of 722.75%. The company had revenue of $10.92 million for the quarter, compared to analyst estimates of $10.91 million. As a group, research analysts anticipate that Dynavax Technologies will post -0.95 earnings per share for the current fiscal year.

In other Dynavax Technologies news, Director Andrew A. F. Hack purchased 1,000,000 shares of the business's stock in a transaction on Wednesday, May 27th. The stock was bought at an average cost of $4.84 per share, for a total transaction of $4,840,000.00. Also, SVP Robert Janssen sold 9,000 shares of the business's stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $4.43, for a total value of $39,870.00. Following the completion of the transaction, the senior vice president now owns 220,266 shares of the company's stock, valued at $975,778.38. The disclosure for this sale can be found here. Insiders own 13.33% of the company's stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Dynavax Technologies by 176.6% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,318 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 5,311 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new stake in shares of Dynavax Technologies during the 4th quarter valued at $41,000. Quantitative Investment Management LLC purchased a new stake in shares of Dynavax Technologies during the 1st quarter valued at $46,000. HighPoint Advisor Group LLC grew its stake in shares of Dynavax Technologies by 21.3% during the 1st quarter. HighPoint Advisor Group LLC now owns 15,400 shares of the biopharmaceutical company's stock valued at $52,000 after buying an additional 2,700 shares during the period. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Dynavax Technologies during the 4th quarter valued at $53,000. Institutional investors own 67.05% of the company's stock.

About Dynavax Technologies

Dynavax Technologies Corporation, a biopharmaceutical company, focuses on leveraging the power of the body's innate and adaptive immune responses through toll-like receptor stimulation. The company markets HEPLISAV-B, a hepatitis B vaccine for prevention of infection caused by all known subtypes of hepatitis B virus in adults age 18 years and older.

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Analyst Recommendations for Dynavax Technologies (NASDAQ:DVAX)

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