DBV Technologies (NASDAQ:DBVT) Shares Gap Up - Here's What Happened

Key Points

• DBV Technologies shares opened higher, rising from a prior close of $9.75 to $10.11 before trading at approximately $9.94, up 2.3%.
• Analyst opinions remain mixed, with five Buy ratings and one Sell rating; MarketBeat reports an overall “Moderate Buy” consensus and an average price target of $48.50.
• Institutional investors own 71.74% of the company, while DBV Technologies continues developing Viaskin Peanut, an investigational patch for peanut allergies.

DBV Technologies S.A. (NASDAQ:DBVT - Get Free Report) shares gapped up before the market opened on Monday. The stock had previously closed at $9.75, but opened at $10.11. DBV Technologies shares last traded at $9.9350, with a volume of 38,862 shares.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on DBVT shares. Wall Street Zen cut DBV Technologies from a "hold" rating to a "sell" rating in a report on Saturday, July 4th. Citizens Jmp upped their price objective on shares of DBV Technologies from $47.00 to $55.00 and gave the stock a "market outperform" rating in a research note on Tuesday, June 30th. Weiss Ratings reiterated a "sell (e+)" rating on shares of DBV Technologies in a report on Thursday, October 15th. HC Wainwright reissued a "buy" rating on shares of DBV Technologies in a research report on Tuesday, June 30th. Finally, Citigroup restated a "market outperform" rating on shares of DBV Technologies in a report on Wednesday, September 30th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $48.50.

DBV Technologies Stock Up 2.3%

The firm has a 50 day simple moving average of $11.95 and a 200-day simple moving average of $15.38. The company has a market cap of $627.48 million, a PE ratio of -2.84 and a beta of -1.04.

Institutional Investors Weigh In On DBV Technologies

Hedge funds and other institutional investors have recently bought and sold shares of the company. ADAR1 Capital Management LLC purchased a new position in shares of DBV Technologies in the first quarter worth about $21,159,000. Perceptive Advisors LLC acquired a new stake in shares of DBV Technologies during the first quarter worth about $20,146,000. Elmind Capital LP purchased a new stake in DBV Technologies in the first quarter valued at approximately $5,536,000. Vivo Capital LLC boosted its position in DBV Technologies by 8.4% in the first quarter. Vivo Capital LLC now owns 2,667,569 shares of the company's stock valued at $55,726,000 after buying an additional 205,943 shares during the last quarter. Finally, Dorsey Wright & Associates acquired a new position in DBV Technologies in the 1st quarter worth approximately $2,142,000. Hedge funds and other institutional investors own 71.74% of the company's stock.

About DBV Technologies

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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