Northern Trust Corp Cuts Stock Holdings in Dynavax Technologies Corporation $DVAX

Northern Trust Corp trimmed its holdings in shares of Dynavax Technologies Corporation (NASDAQ:DVAX) by 2.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,418,435 shares of the biopharmaceutical company’s stock after selling 39,413 shares during the period. Northern Trust Corp owned about 1.18% of Dynavax Technologies worth $18,397,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. purchased a new stake in Dynavax Technologies during the first quarter valued at about $312,000. GAMMA Investing LLC boosted its position in Dynavax Technologies by 88.4% during the first quarter. GAMMA Investing LLC now owns 7,729 shares of the biopharmaceutical company’s stock valued at $100,000 after buying an additional 3,627 shares during the period. First Trust Advisors LP purchased a new stake in shares of Dynavax Technologies during the fourth quarter worth about $847,000. Deep Track Capital LP boosted its holdings in shares of Dynavax Technologies by 42.0% during the fourth quarter. Deep Track Capital LP now owns 17,791,486 shares of the biopharmaceutical company’s stock worth $227,197,000 after purchasing an additional 5,265,000 shares during the period. Finally, Deutsche Bank AG boosted its holdings in shares of Dynavax Technologies by 49.3% during the fourth quarter. Deutsche Bank AG now owns 126,398 shares of the biopharmaceutical company’s stock worth $1,614,000 after purchasing an additional 41,720 shares during the period. 96.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Dynavax Technologies

In related news, Director Scott Dunseth Myers purchased 3,800 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was bought at an average cost of $10.82 per share, with a total value of $41,116.00. Following the completion of the purchase, the director directly owned 35,004 shares in the company, valued at approximately $378,743.28. This represents a 12.18% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.98% of the stock is currently owned by insiders.

Analysts Set New Price Targets

DVAX has been the subject of a number of analyst reports. JMP Securities reiterated a “market outperform” rating and set a $32.00 target price on shares of Dynavax Technologies in a report on Friday, August 22nd. Wall Street Zen upgraded shares of Dynavax Technologies from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $24.33.

Dynavax Technologies Price Performance

DVAX stock opened at $10.12 on Tuesday. Dynavax Technologies Corporation has a 1 year low of $9.22 and a 1 year high of $14.63. The company has a market cap of $1.19 billion, a P/E ratio of -22.00 and a beta of 1.24. The firm has a 50-day moving average of $10.62 and a 200 day moving average of $11.28. The company has a debt-to-equity ratio of 0.45, a current ratio of 6.65 and a quick ratio of 6.01.

Dynavax Technologies (NASDAQ:DVAX) last released its quarterly earnings results on Thursday, August 7th. The biopharmaceutical company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. Dynavax Technologies had a negative net margin of 16.67% and a positive return on equity of 5.10%. The company had revenue of $95.44 million during the quarter, compared to the consensus estimate of $87.55 million. On average, sell-side analysts forecast that Dynavax Technologies Corporation will post 0.32 EPS for the current year.

About Dynavax Technologies

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.