Bank of New York Mellon Corp Sells 199,158 Shares of Dynavax Technologies Corporation $DVAX

Bank of New York Mellon Corp decreased its holdings in Dynavax Technologies Corporation (NASDAQ:DVAX) by 22.4% in the second quarter, Holdings Channel.com reports. The firm owned 691,888 shares of the biopharmaceutical company’s stock after selling 199,158 shares during the period. Bank of New York Mellon Corp’s holdings in Dynavax Technologies were worth $6,864,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. purchased a new stake in Dynavax Technologies during the 1st quarter valued at about $2,477,000. Woodline Partners LP lifted its position in Dynavax Technologies by 48.4% in the first quarter. Woodline Partners LP now owns 1,178,763 shares of the biopharmaceutical company’s stock valued at $15,289,000 after purchasing an additional 384,288 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in Dynavax Technologies by 4.3% in the second quarter. Exchange Traded Concepts LLC now owns 133,601 shares of the biopharmaceutical company’s stock valued at $1,325,000 after purchasing an additional 5,523 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Dynavax Technologies in the second quarter valued at approximately $1,381,000. Finally, Nordea Investment Management AB boosted its stake in shares of Dynavax Technologies by 0.4% during the second quarter. Nordea Investment Management AB now owns 782,248 shares of the biopharmaceutical company’s stock valued at $7,830,000 after purchasing an additional 3,171 shares during the period. Hedge funds and other institutional investors own 96.96% of the company’s stock.

Dynavax Technologies Stock Performance

NASDAQ:DVAX opened at $11.18 on Friday. The company has a quick ratio of 6.01, a current ratio of 6.65 and a debt-to-equity ratio of 0.45. The firm’s fifty day simple moving average is $10.27 and its 200 day simple moving average is $10.29. The stock has a market cap of $1.31 billion, a P/E ratio of -24.30 and a beta of 1.09. Dynavax Technologies Corporation has a twelve month low of $9.20 and a twelve month high of $14.63.

Dynavax Technologies (NASDAQ:DVAX) last posted its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.14 by $0.07. The firm had revenue of $94.88 million during the quarter, compared to analysts’ expectations of $94.00 million. Dynavax Technologies had a negative net margin of 16.67% and a positive return on equity of 5.10%. As a group, research analysts predict that Dynavax Technologies Corporation will post 0.32 EPS for the current year.

Analyst Upgrades and Downgrades

DVAX has been the topic of several analyst reports. Wall Street Zen raised shares of Dynavax Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Weiss Ratings restated a “sell (d)” rating on shares of Dynavax Technologies in a research report on Wednesday, October 8th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $32.00 price objective on shares of Dynavax Technologies in a research note on Friday, August 22nd. Three analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Dynavax Technologies has an average rating of “Hold” and a consensus target price of $24.33.

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.