Zacks Investment Research downgraded shares of Dynavax Technologies (NASDAQ:DVAX) from a hold rating to a sell rating in a research note issued to investors on Tuesday, 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. “

Other equities analysts also recently issued reports about the stock. BidaskClub upgraded shares of Dynavax Technologies from a sell rating to a hold rating in a report on Wednesday, January 16th. ValuEngine upgraded shares of Dynavax Technologies from a sell rating to a hold rating in a report on Monday, April 1st. Finally, Cantor Fitzgerald reiterated an overweight rating and issued a $28.00 target price (down from $32.00) on shares of Dynavax Technologies in a report on Tuesday, February 26th. 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’s stock. The stock presently has an average rating of Hold and an average price target of $27.00.

Shares of Dynavax Technologies stock opened at $6.99 on Tuesday. The stock has a market capitalization of $454.40 million, a price-to-earnings ratio of -2.74 and a beta of 0.67. 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 has a one year low of $6.75 and a one year high of $22.80.

Dynavax Technologies (NASDAQ:DVAX) last announced its 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). The firm had revenue of $3.90 million during the quarter, compared to the consensus estimate of $3.43 million. Dynavax Technologies had a negative return on equity of 139.00% and a negative net margin of 1,938.27%. The business’s revenue for the quarter was up 18471.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.45) earnings per share. On average, sell-side analysts anticipate that Dynavax Technologies will post -2.35 EPS for the current year.

In other news, VP David Louis Johnson sold 20,765 shares of the company’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $9.03, for a total transaction of $187,507.95. Following the transaction, the vice president now owns 52,786 shares in the company, valued at $476,657.58. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael S. Ostrach sold 35,444 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $8.94, for a total value of $316,869.36. Following the completion of the sale, the insider now owns 121,581 shares in the company, valued at approximately $1,086,934.14. 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. Corporate insiders own 3.47% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Advisor Group Inc. boosted its position in Dynavax Technologies by 515.3% in the fourth quarter. Advisor Group Inc. now owns 4,473 shares of the biopharmaceutical company’s stock valued at $41,000 after buying an additional 3,746 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Dynavax Technologies in the third quarter valued at approximately $131,000. Pacer Advisors Inc. purchased a new stake in Dynavax Technologies in the third quarter valued at approximately $132,000. Legal & General Group Plc boosted its position in Dynavax Technologies by 18.7% in the fourth quarter. Legal & General Group Plc now owns 11,814 shares of the biopharmaceutical company’s stock valued at $108,000 after buying an additional 1,860 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in Dynavax Technologies in the fourth quarter valued at approximately $117,000. Hedge funds and other institutional investors own 84.11% of the company’s stock.

About Dynavax Technologies

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's lead product candidates include HEPLISAV-B, a hepatitis B vaccine for prevention of infection caused by all known subtypes of the virus in adults age 18 years and older; SD-101, a cancer immunotherapy that is in Phase 2 clinical studies; and DV281, an investigational TLR9 agonist for the treatment of non-small cell lung cancer.

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