HC Wainwright Begins Coverage on Dynavax Technologies (NASDAQ:DVAX)

Stock analysts at HC Wainwright initiated coverage on shares of Dynavax Technologies (NASDAQ:DVAX) in a research note issued to investors on Wednesday, TipRanks reports. The firm set a “buy” rating and a $23.00 price target on the biopharmaceutical company’s stock. HC Wainwright’s price objective suggests a potential upside of 60.17% from the stock’s current price.

DVAX has been the topic of several other research reports. The Goldman Sachs Group initiated coverage on shares of Dynavax Technologies in a research report on Friday, August 6th. They issued a “buy” rating and a $19.00 price target on the stock. TheStreet raised shares of Dynavax Technologies from a “d-” rating to a “c-” rating in a research report on Wednesday, August 18th. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $18.00.

Dynavax Technologies stock traded up $0.44 during midday trading on Wednesday, hitting $14.36. 64,405 shares of the stock were exchanged, compared to its average volume of 4,219,667. The company has a quick ratio of 2.43, a current ratio of 2.85 and a debt-to-equity ratio of 2.64. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -55.15 and a beta of 1.37. Dynavax Technologies has a 52-week low of $3.58 and a 52-week high of $20.40. The business’s 50-day moving average price is $12.61 and its 200-day moving average price is $10.42.

Dynavax Technologies (NASDAQ:DVAX) last released its earnings results on Wednesday, August 4th. The biopharmaceutical company reported $0.02 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.06. The firm had revenue of $52.77 million for the quarter, compared to analysts’ expectations of $44.04 million. Dynavax Technologies had a negative net margin of 3.37% and a negative return on equity of 7.33%. On average, sell-side analysts predict that Dynavax Technologies will post 0.65 earnings per share for the current fiscal year.

In other news, SVP Robert Janssen sold 80,000 shares of the company’s stock in a transaction on Friday, August 6th. The shares were sold at an average price of $10.75, for a total value of $860,000.00. Following the completion of the sale, the senior vice president now owns 6,861 shares of the company’s stock, valued at approximately $73,755.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew A. F. Hack sold 2,000,000 shares of the company’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $16.22, for a total transaction of $32,440,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 4,408,268 shares of company stock worth $58,580,545 in the last ninety days. 11.77% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in DVAX. Marshall Wace LLP boosted its stake in shares of Dynavax Technologies by 225.0% in the 1st quarter. Marshall Wace LLP now owns 16,449 shares of the biopharmaceutical company’s stock valued at $120,000 after purchasing an additional 11,387 shares in the last quarter. Los Angeles Capital Management LLC boosted its position in Dynavax Technologies by 296.5% during the 1st quarter. Los Angeles Capital Management LLC now owns 136,834 shares of the biopharmaceutical company’s stock valued at $1,345,000 after buying an additional 102,322 shares during the period. Alliancebernstein L.P. boosted its position in Dynavax Technologies by 38.2% during the 1st quarter. Alliancebernstein L.P. now owns 116,450 shares of the biopharmaceutical company’s stock valued at $1,145,000 after buying an additional 32,200 shares during the period. Swiss National Bank boosted its position in Dynavax Technologies by 1.7% during the 1st quarter. Swiss National Bank now owns 226,578 shares of the biopharmaceutical company’s stock valued at $2,227,000 after buying an additional 3,700 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in Dynavax Technologies by 43.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 16,523 shares of the biopharmaceutical company’s stock valued at $162,000 after buying an additional 4,972 shares during the period. 78.27% of the stock is owned by institutional investors.

Dynavax Technologies Company Profile

Dynavax Technologies Corp. operates as a biopharmaceutical company, which engages in the discovery, development, and commercialization of novel vaccines and immuno-oncology therapeutics. Its product includes HEPLISAV-B, which prevents infection caused by all known subtypes of hepatitis B virus in adults 18 years of age and older.

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