Dynavax Technologies Corporation (DVAX) Price Target Raised to $7.00

Dynavax Technologies Corporation (NASDAQ:DVAX) had its price target increased by research analysts at Royal Bank Of Canada from $6.00 to $7.00 in a research report issued to clients and investors on Tuesday, May 9th, Marketbeat.com reports. The firm presently has a “sector perform” rating on the biopharmaceutical company’s stock. Royal Bank Of Canada’s price objective would suggest a potential downside of 9.68% from the stock’s previous close.

Shares of Dynavax Technologies Corporation (NASDAQ:DVAX) traded down 0.65% on Tuesday, hitting $7.70. The stock had a trading volume of 608,677 shares. The stock’s market cap is $375.71 million. Dynavax Technologies Corporation has a one year low of $3.20 and a one year high of $17.50. The company’s 50 day moving average is $5.92 and its 200 day moving average is $5.10.

Dynavax Technologies Corporation (NASDAQ:DVAX) last released its quarterly earnings results on Monday, May 8th. The biopharmaceutical company reported ($0.60) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.60). Dynavax Technologies Corporation had a negative net margin of 1,080.18% and a negative return on equity of 100.45%. The business had revenue of $0.15 million for the quarter, compared to analyst estimates of $0.75 million. During the same quarter in the previous year, the business earned ($0.70) earnings per share. Equities research analysts predict that Dynavax Technologies Corporation will post ($1.43) EPS for the current fiscal year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in DVAX. Bank of America Corp DE increased its position in shares of Dynavax Technologies Corporation by 2.3% in the first quarter. Bank of America Corp DE now owns 20,356 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 456 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Dynavax Technologies Corporation by 4.1% in the third quarter. Wells Fargo & Company MN now owns 14,433 shares of the biopharmaceutical company’s stock worth $152,000 after buying an additional 563 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Dynavax Technologies Corporation by 3.6% in the first quarter. Parametric Portfolio Associates LLC now owns 27,151 shares of the biopharmaceutical company’s stock worth $162,000 after buying an additional 939 shares during the last quarter. American International Group Inc. increased its position in shares of Dynavax Technologies Corporation by 7.1% in the first quarter. American International Group Inc. now owns 23,934 shares of the biopharmaceutical company’s stock worth $142,000 after buying an additional 1,584 shares during the last quarter. Finally, Nationwide Fund Advisors increased its position in shares of Dynavax Technologies Corporation by 11.2% in the first quarter. Nationwide Fund Advisors now owns 27,667 shares of the biopharmaceutical company’s stock worth $165,000 after buying an additional 2,786 shares during the last quarter. 62.11% of the stock is currently owned by hedge funds and other institutional investors.

Dynavax Technologies Corporation Company Profile

Dynavax Technologies Corporation is a clinical-stage immunotherapy company. The Company is focused on leveraging the body’s innate and adaptive immune responses through toll-like receptor (TLR) stimulation. Its product candidates are being investigated for use in multiple cancer indications, as a vaccine for the prevention of hepatitis B and as a disease modifying therapy for asthma.

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