Dynavax Technologies (NASDAQ: DVAX) has received a downgrade from William Blair, which shifted its rating from “outperform” to “hold” in a research note released on October 8, 2023. MarketBeat.com reported this change early on Wednesday morning. In a separate assessment, Weiss Ratings reaffirmed a “sell (d)” rating for the biopharmaceutical company’s shares.
Currently, the stock has received mixed evaluations from analysts. Two investment analysts have assigned a “buy” rating, one has given a “hold” rating, and two have issued “sell” ratings. According to MarketBeat, Dynavax Technologies holds an average rating of “hold” with an average target price of $24.33.
Stock Performance and Financial Metrics
On the same day that the downgrade was announced, Dynavax Technologies’ stock opened at $15.38. The company demonstrates a debt-to-equity ratio of 0.41, a quick ratio of 6.94, and a current ratio of 7.62. With a market capitalization of $1.81 billion, the firm also reported a price-to-earnings (P/E) ratio of -41.57 and a beta of 0.89. Over the past year, the stock has fluctuated significantly, with a fifty-two week low of $9.20 and a high of $15.49.
Dynavax Technologies recently disclosed its quarterly earnings on November 5, where it reported earnings per share (EPS) of $0.21, surpassing the consensus estimate of $0.14 by $0.07. The company achieved revenue of $94.88 million for the quarter, exceeding analysts’ expectations of $94.00 million. The firm recorded a positive return on equity of 7.18% but noted a negative net margin of 13.13%. Looking ahead, equities analysts predict that Dynavax Technologies will post $0.32 in EPS for the current year.
Institutional Trading Activity
Recent trading activity indicates that hedge funds and institutional investors are actively adjusting their positions in Dynavax Technologies. Blair William & Co. IL increased its holdings by 0.3% during the second quarter, acquiring an additional 6,940 shares, bringing their total to 2,279,647 shares valued at $22.61 million.
Similarly, Marshall Wace LLP raised its position by 12.2% in the third quarter, now holding 2,036,003 shares valued at $20.22 million. Bank of America Corp DE also boosted its stake by 25.7%, increasing its total to 1,458,087 shares worth $14.48 million. Glenmede Investment Management LP reported a 23.8% increase in its holdings, while Woodline Partners LP raised its stake by 48.4% in the first quarter. Currently, institutional investors own approximately 96.96% of Dynavax Technologies’ stock.
Dynavax Technologies Corporation, headquartered in Emeryville, California, focuses on developing and commercializing innovative vaccines and immunotherapies. The company leverages its proprietary Toll-like receptor (TLR) agonist platform to enhance immune responses. Its lead product, HEPLISAV-B, is a two-dose hepatitis B vaccine approved by the U.S. Food and Drug Administration, designed to stimulate a rapid and robust antibody response in adults.
Founded in 1993, Dynavax has expanded its pipeline to include candidates targeting seasonal influenza, respiratory syncytial virus (RSV), and emerging infectious diseases. As the company navigates evolving market conditions, analysts and investors will be closely watching its performance and strategic developments in the coming months.
