Dynavax Technologies Corporation $DVAX Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in shares of Dynavax Technologies Corporation (NASDAQ:DVAX) by 50.1% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,937 shares of the biopharmaceutical company’s stock after selling 4,962 shares during the period. PNC Financial Services Group Inc.’s holdings in Dynavax Technologies were worth $49,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DVAX. Jacobs Levy Equity Management Inc. acquired a new position in shares of Dynavax Technologies during the first quarter worth $2,477,000. Woodline Partners LP grew its holdings in Dynavax Technologies by 48.4% during the 1st 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 in the last quarter. Exchange Traded Concepts LLC increased its stake in Dynavax Technologies by 4.3% during the 2nd quarter. Exchange Traded Concepts LLC now owns 133,601 shares of the biopharmaceutical company’s stock worth $1,325,000 after buying an additional 5,523 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Dynavax Technologies in the 2nd quarter worth $1,381,000. Finally, Nordea Investment Management AB boosted its position in Dynavax Technologies by 0.4% in the 2nd quarter. Nordea Investment Management AB now owns 782,248 shares of the biopharmaceutical company’s stock valued at $7,830,000 after buying an additional 3,171 shares during the last quarter. Hedge funds and other institutional investors own 96.96% of the company’s stock.

Dynavax Technologies Stock Down 5.8%

Shares of Dynavax Technologies stock opened at $10.71 on Tuesday. The business has a 50-day moving average price of $10.47 and a 200 day moving average price of $10.36. Dynavax Technologies Corporation has a fifty-two week low of $9.20 and a fifty-two week high of $14.63. The firm has a market cap of $1.26 billion, a P/E ratio of -23.28 and a beta of 1.09. The company has a quick ratio of 6.01, a current ratio of 6.65 and a debt-to-equity ratio of 0.45.

Dynavax Technologies (NASDAQ:DVAX) last released its earnings results on Wednesday, November 5th. The biopharmaceutical company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.07. Dynavax Technologies had a positive return on equity of 5.10% and a negative net margin of 16.67%.The company had revenue of $94.88 million for the quarter, compared to the consensus estimate of $94.00 million. On average, sell-side analysts forecast that Dynavax Technologies Corporation will post 0.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and set a $32.00 target price on shares of Dynavax Technologies in a research report on Friday, August 22nd. Weiss Ratings restated a “sell (d)” rating on shares of Dynavax Technologies in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised Dynavax Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Dynavax Technologies currently has a consensus rating of “Hold” and an average price target of $24.33.

Dynavax Technologies 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.