Zacks Investment Research Lowers Dynavax Technologies (DVAX) to Sell

Dynavax Technologies (NASDAQ:DVAX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday, 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 topic of a number of other research reports. BidaskClub raised Dynavax Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, January 16th. ValuEngine raised Dynavax Technologies from a “sell” rating to a “hold” rating in a research report on Monday, April 1st. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $28.00 target price (down previously from $32.00) on shares of Dynavax Technologies in a research report on Tuesday, February 26th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $27.00.

NASDAQ DVAX traded down $0.18 on Monday, reaching $6.77. The stock had a trading volume of 952,497 shares, compared to its average volume of 1,095,760. The firm has a market cap of $439.68 million, a price-to-earnings ratio of -2.65 and a beta of 0.67. The company has a quick ratio of 4.08, a current ratio of 4.58 and a debt-to-equity ratio of 1.60. Dynavax Technologies has a 12-month low of $6.66 and a 12-month high of $22.80.

Dynavax Technologies (NASDAQ:DVAX) last announced its earnings results on Tuesday, February 26th. The biopharmaceutical company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.04). The firm had revenue of $3.90 million during the quarter, compared to analysts’ expectations of $3.43 million. Dynavax Technologies had a negative net margin of 1,938.27% and a negative return on equity of 139.00%. The firm’s revenue for the quarter was up 18471.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.45) EPS. Analysts anticipate that Dynavax Technologies will post -2.35 EPS for the current fiscal year.

In other news, insider Michael S. Ostrach sold 35,444 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $8.94, for a total transaction of $316,869.36. Following the sale, the insider now owns 121,581 shares of the company’s stock, valued at $1,086,934.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Robert Coffman sold 63,202 shares of the company’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $9.03, for a total value of $570,714.06. Following the sale, the senior vice president now directly owns 86,268 shares in the company, valued at approximately $779,000.04. The disclosure for this sale can be found here. In the last three months, insiders sold 119,411 shares of company stock worth $1,075,091. 3.47% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of DVAX. Advisor Group Inc. increased its position in shares of Dynavax Technologies by 515.3% during the fourth quarter. Advisor Group Inc. now owns 4,473 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 3,746 shares during the period. Legal & General Group Plc increased its position in shares of Dynavax Technologies by 18.7% during the fourth quarter. Legal & General Group Plc now owns 11,814 shares of the biopharmaceutical company’s stock worth $108,000 after acquiring an additional 1,860 shares during the period. Virtu Financial LLC purchased a new stake in shares of Dynavax Technologies during the fourth quarter worth $117,000. Pacer Advisors Inc. purchased a new stake in shares of Dynavax Technologies during the third quarter worth $132,000. Finally, Wall Street Access Asset Management LLC increased its position in shares of Dynavax Technologies by 7.0% during the fourth quarter. Wall Street Access Asset Management LLC now owns 15,300 shares of the biopharmaceutical company’s stock worth $140,000 after acquiring an additional 1,000 shares during the period. 84.11% of the stock is currently owned by institutional investors and hedge funds.

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 (TLR) 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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