Dynavax Technologies (NASDAQ:DVAX) Upgraded by StockNews.com to Buy Rating

Dynavax Technologies (NASDAQ:DVAX) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Separately, HC Wainwright increased their price objective on shares of Dynavax Technologies from $29.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday.

Dynavax Technologies Stock Performance

DVAX opened at $12.48 on Tuesday. The stock has a market cap of $1.64 billion, a PE ratio of 96.01 and a beta of 1.34. Dynavax Technologies has a 1 year low of $9.74 and a 1 year high of $14.41. The stock’s 50 day simple moving average is $12.77 and its 200-day simple moving average is $11.66. The company has a current ratio of 13.23, a quick ratio of 12.34 and a debt-to-equity ratio of 0.33.

Hedge Funds Weigh In On Dynavax Technologies

Hedge funds have recently modified their holdings of the stock. Millennium Management LLC bought a new stake in Dynavax Technologies in the second quarter valued at $17,615,000. Great Point Partners LLC grew its holdings in shares of Dynavax Technologies by 87.7% in the 2nd quarter. Great Point Partners LLC now owns 2,374,000 shares of the biopharmaceutical company’s stock worth $26,660,000 after purchasing an additional 1,109,080 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Dynavax Technologies during the 3rd quarter worth about $8,291,000. PDT Partners LLC bought a new position in Dynavax Technologies during the 3rd quarter valued at about $3,967,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Dynavax Technologies in the second quarter valued at about $3,144,000. 96.96% of the stock is owned by institutional investors and hedge funds.

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.