DBV Technologies (NASDAQ:DBVT) Shares Gap Down Following Weak Earnings

Key Points

• DBV Technologies shares fell sharply after the company reported disappointing earnings, opening at $9.35 versus a prior close of $10.65.
• The company posted a quarterly loss of $0.70 per share, missing the $0.29 consensus estimate, although revenue of $1.60 million exceeded expectations of $0.58 million.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and an average price target of $48.50; institutional investors own 71.74% of the stock.

DBV Technologies S.A. (NASDAQ:DBVT - Get Free Report)'s stock price gapped down prior to trading on Thursday following a dissappointing earnings announcement. The stock had previously closed at $10.65, but opened at $9.35. DBV Technologies shares last traded at $10.5760, with a volume of 274,024 shares traded.

The company reported ($0.70) earnings per share for the quarter, missing analysts' consensus estimates of ($0.29) by ($0.41). The company had revenue of $1.60 million for the quarter, compared to the consensus estimate of $0.58 million. DBV Technologies had a negative net margin of 3,506.53% and a negative return on equity of 119.33%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on DBVT shares. Wall Street Zen downgraded shares of DBV Technologies from a "hold" rating to a "sell" rating in a research report on Saturday, July 4th. Cantor Fitzgerald reiterated an "overweight" rating on shares of DBV Technologies in a research report on Thursday, September 10th. Weiss Ratings restated a "sell (e+)" rating on shares of DBV Technologies in a research report on Thursday, October 15th. Finally, Citigroup restated a "market outperform" rating on shares of DBV Technologies in a research report on Thursday. Five analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $48.50.

Institutional Investors Weigh In On DBV Technologies

A number of institutional investors have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. raised its stake in DBV Technologies by 170.0% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 21,600 shares of the company's stock valued at $249,000 after purchasing an additional 13,600 shares during the period. Vontobel Holding Ltd. purchased a new position in DBV Technologies in the 3rd quarter worth approximately $144,000. Perceptive Advisors LLC bought a new position in DBV Technologies in the 1st quarter worth approximately $20,146,000. Vivo Capital LLC boosted its stake in DBV Technologies by 8.4% in the 1st quarter. Vivo Capital LLC now owns 2,667,569 shares of the company's stock worth $55,726,000 after purchasing an additional 205,943 shares during the period. Finally, ADAR1 Capital Management LLC bought a new position in DBV Technologies in the 1st quarter worth approximately $21,159,000. Hedge funds and other institutional investors own 71.74% of the company's stock.

DBV Technologies Stock Performance

The business's fifty day simple moving average is $11.71 and its 200-day simple moving average is $17.00. The firm has a market capitalization of $670.36 million, a PE ratio of -3.03 and a beta of -1.04.

DBV Technologies Company Profile

DBV Technologies SA NASDAQ: DBVT is a clinical-stage biopharmaceutical company focused on developing treatments for food allergies and other immune-mediated conditions. The company's approach is based on epicutaneous immunotherapy, which is designed to deliver small amounts of an allergen through the skin to help desensitize the immune system.

DBV Technologies' lead product candidate is Viaskin Peanut, an investigational patch intended to treat peanut allergy, particularly in children.

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