HC Wainwright Reiterates “Buy” Rating for Dynavax Technologies (NASDAQ:DVAX)

Dynavax Technologies (NASDAQ:DVAX)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research note issued to investors on Friday, Benzinga reports. They presently have a $29.00 price objective on the biopharmaceutical company’s stock. HC Wainwright’s target price suggests a potential upside of 155.06% from the company’s previous close.

Separately, StockNews.com cut shares of Dynavax Technologies from a “buy” rating to a “hold” rating in a research note on Tuesday, May 28th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $25.33.

Dynavax Technologies Price Performance

Shares of Dynavax Technologies stock opened at $11.37 on Friday. The firm has a fifty day simple moving average of $11.55 and a 200-day simple moving average of $12.49. The company has a current ratio of 15.20, a quick ratio of 14.10 and a debt-to-equity ratio of 0.36. Dynavax Technologies has a 1-year low of $10.48 and a 1-year high of $15.15. The stock has a market capitalization of $1.49 billion, a price-to-earnings ratio of 189.50 and a beta of 1.20.

Dynavax Technologies (NASDAQ:DVAX) last issued its quarterly earnings data on Wednesday, May 8th. The biopharmaceutical company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02). Dynavax Technologies had a return on equity of 1.52% and a net margin of 3.91%. The firm had revenue of $50.79 million during the quarter, compared to analyst estimates of $51.98 million. On average, sell-side analysts expect that Dynavax Technologies will post 0.12 earnings per share for the current year.

Insider Activity at Dynavax Technologies

In other news, Director Francis Cano sold 3,615 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $11.93, for a total value of $43,126.95. Following the completion of the transaction, the director now owns 36,905 shares in the company, valued at approximately $440,276.65. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.98% of the company’s stock.

Hedge Funds Weigh In On Dynavax Technologies

A number of hedge funds have recently made changes to their positions in DVAX. SummerHaven Investment Management LLC grew its holdings in shares of Dynavax Technologies by 1.5% in the 4th quarter. SummerHaven Investment Management LLC now owns 52,973 shares of the biopharmaceutical company’s stock worth $741,000 after purchasing an additional 799 shares during the last quarter. Congress Asset Management Co. MA grew its holdings in shares of Dynavax Technologies by 0.4% in the 4th quarter. Congress Asset Management Co. MA now owns 227,135 shares of the biopharmaceutical company’s stock worth $3,175,000 after purchasing an additional 799 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Dynavax Technologies by 1.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 57,593 shares of the biopharmaceutical company’s stock worth $805,000 after purchasing an additional 828 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in shares of Dynavax Technologies by 3.4% in the 4th quarter. Handelsbanken Fonder AB now owns 27,300 shares of the biopharmaceutical company’s stock worth $382,000 after purchasing an additional 900 shares during the last quarter. Finally, Diversified Trust Co grew its holdings in shares of Dynavax Technologies by 3.2% in the 1st quarter. Diversified Trust Co now owns 29,548 shares of the biopharmaceutical company’s stock worth $367,000 after purchasing an additional 925 shares during the last quarter. Institutional investors and hedge funds own 96.96% of the company’s stock.

Dynavax Technologies Company Profile

Dynavax Technologies Corporation, a commercial stage biopharmaceutical company, focuses on developing and commercializing vaccines in the United States. It markets HEPLISAV-B, a hepatitis B vaccine for prevention of infection caused by all known subtypes of hepatitis B virus in age 18 years and older in the United States and Europe.