Dynavax Technologies (NASDAQ:DVAX) Hits New 1-Year Low Following Analyst Downgrade

Dynavax Technologies Co. (NASDAQ:DVAX)’s stock price hit a new 52-week low during mid-day trading on Thursday after JMP Securities lowered their price target on the stock from $33.00 to $31.00. JMP Securities currently has a market outperform rating on the stock. Dynavax Technologies traded as low as $9.62 and last traded at $9.72, with a volume of 6232072 shares changing hands. The stock had previously closed at $10.92.

A number of other equities analysts have also commented on DVAX. William Blair reiterated an “outperform” rating on shares of Dynavax Technologies in a report on Friday, February 21st. StockNews.com downgraded Dynavax Technologies from a “buy” rating to a “hold” rating in a report on Tuesday. The Goldman Sachs Group dropped their price objective on Dynavax Technologies from $12.00 to $10.00 and set a “sell” rating on the stock in a report on Thursday, April 17th. Finally, HC Wainwright reiterated a “buy” rating and set a $31.00 target price on shares of Dynavax Technologies in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Dynavax Technologies currently has a consensus rating of “Hold” and a consensus price target of $24.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Bryce Point Capital LLC acquired a new position in Dynavax Technologies in the first quarter worth $357,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Dynavax Technologies by 4.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,920 shares of the biopharmaceutical company’s stock valued at $401,000 after buying an additional 1,453 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in Dynavax Technologies during the first quarter worth about $292,000. Choreo LLC boosted its stake in Dynavax Technologies by 3.2% in the first quarter. Choreo LLC now owns 34,828 shares of the biopharmaceutical company’s stock valued at $452,000 after acquiring an additional 1,065 shares during the period. Finally, Moloney Securities Asset Management LLC acquired a new position in Dynavax Technologies in the first quarter valued at approximately $131,000. Institutional investors and hedge funds own 96.96% of the company’s stock.

Dynavax Technologies Price Performance

The company has a market capitalization of $1.19 billion, a P/E ratio of 54.00 and a beta of 1.26. The company has a debt-to-equity ratio of 0.33, a current ratio of 13.23 and a quick ratio of 12.34. The company has a fifty day moving average price of $12.41 and a 200 day moving average price of $12.57.

Dynavax Technologies (NASDAQ:DVAX) last announced its quarterly earnings results on Tuesday, May 6th. The biopharmaceutical company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.14). The firm had revenue of $68.16 million during the quarter, compared to analyst estimates of $70.01 million. Dynavax Technologies had a net margin of 9.85% and a return on equity of 4.22%. On average, sell-side analysts forecast that Dynavax Technologies Co. will post 0.32 EPS for the current fiscal year.

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.