DBV Technologies (NASDAQ:DBVT) Shares Gap Up on Analyst Upgrade

DBV Technologies S.A. (NASDAQ:DBVT)’s share price gapped up before the market opened on Friday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The stock had previously closed at $12.90, but opened at $13.55. DBV Technologies shares last traded at $14.00, with a volume of 617,165 shares changing hands.

Other analysts have also issued research reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DBV Technologies in a report on Tuesday. Zacks Research raised DBV Technologies from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target (up previously from $16.00) on shares of DBV Technologies in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $16.08.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Millennium Management LLC increased its holdings in DBV Technologies by 26.1% in the 3rd quarter. Millennium Management LLC now owns 337,863 shares of the company’s stock worth $3,379,000 after acquiring an additional 69,849 shares in the last quarter. Citadel Advisors LLC purchased a new position in DBV Technologies during the third quarter valued at approximately $220,000. Two Sigma Investments LP bought a new position in shares of DBV Technologies in the third quarter worth approximately $167,000. DLD Asset Management LP purchased a new stake in shares of DBV Technologies in the third quarter worth $250,000. Finally, Artisan Partners Limited Partnership purchased a new stake in shares of DBV Technologies in the third quarter worth $519,000. 71.74% of the stock is owned by hedge funds and other institutional investors.

DBV Technologies Stock Performance

The company’s 50-day moving average price is $13.66 and its 200 day moving average price is $11.01. The stock has a market capitalization of $503.52 million, a P/E ratio of -2.71 and a beta of -0.49.

DBV Technologies Company Profile

DBV Technologies SA, a clinical-stage biopharmaceutical company, engages in the research and development of epicutaneous immunotherapy products. Its product pipeline comprising Viaskin Peanut, an immunotherapy product, which has completed Phase 3 clinical trial for the treatment of peanut allergies; and Viaskin Milk which is in Phase 1/2 clinical trial for the treatment of immunoglobulin E (IgE) mediated or cow’s milk protein allergy and eosinophilic esophagitis.