Zacks Investment Research Lowers Dynavax Technologies (DVAX) to Sell

Zacks Investment Research cut shares of Dynavax Technologies (NASDAQ:DVAX) from a hold rating to a sell rating in a report 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. “

A number of other brokerages have also commented on DVAX. Cantor Fitzgerald reiterated an overweight rating and issued a $28.00 price target (down previously from $32.00) on shares of Dynavax Technologies in a research note on Tuesday, February 26th. BidaskClub lowered shares of Dynavax Technologies from a sell rating to a strong sell rating in a research note on Monday, February 25th. Finally, ValuEngine lowered shares of Dynavax Technologies from a hold rating to a sell rating in a research note on Monday, February 4th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $27.00.

Shares of DVAX opened at $6.77 on Monday. Dynavax Technologies has a 52 week low of $6.66 and a 52 week high of $22.80. 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 (NASDAQ:DVAX) last announced its quarterly earnings results on Tuesday, February 26th. The biopharmaceutical company reported ($0.64) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.60) by ($0.04). Dynavax Technologies had a negative net margin of 1,938.27% and a negative return on equity of 139.00%. The company had revenue of $3.90 million during the quarter, compared to analyst estimates of $3.43 million. During the same quarter last year, the company posted ($0.45) EPS. The firm’s quarterly revenue was up 18471.4% on a year-over-year basis. On average, sell-side analysts predict that Dynavax Technologies will post -2.35 earnings per share for the current year.

In other Dynavax Technologies news, insider Michael S. Ostrach sold 35,444 shares of the stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $8.94, for a total transaction of $316,869.36. Following the transaction, the insider now owns 121,581 shares in the company, valued at approximately $1,086,934.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Robert Coffman sold 63,202 shares of the stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $9.03, for a total transaction of $570,714.06. Following the transaction, the senior vice president now 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 90 days, insiders have sold 119,411 shares of company stock worth $1,075,091. Company insiders own 3.47% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Advisor Group Inc. boosted its position in shares of Dynavax Technologies by 515.3% during the 4th 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 in the last quarter. Legal & General Group Plc boosted its position in shares of Dynavax Technologies by 18.7% during the 4th 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 in the last quarter. Virtu Financial LLC acquired a new stake in shares of Dynavax Technologies during the 4th quarter worth approximately $117,000. Pacer Advisors Inc. acquired a new stake in shares of Dynavax Technologies during the 3rd quarter worth approximately $132,000. Finally, Wall Street Access Asset Management LLC boosted its position in shares of Dynavax Technologies by 7.0% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 84.11% of the company’s stock.

Dynavax Technologies Company Profile

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.

Further Reading: Net Asset Value

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