Short Interest in Dynavax Technologies Co. (NASDAQ:DVAX) Declines By 5.6%

Dynavax Technologies Co. (NASDAQ:DVAX) was the recipient of a significant drop in short interest during the month of September. As of September 30th, there was short interest totalling 17,040,000 shares, a drop of 5.6% from the September 15th total of 18,050,000 shares. Based on an average daily volume of 2,000,000 shares, the days-to-cover ratio is currently 8.5 days.

Institutional Investors Weigh In On Dynavax Technologies

A number of hedge funds have recently added to or reduced their stakes in DVAX. Goldman Sachs Group Inc. grew its stake in Dynavax Technologies by 21.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,597,139 shares of the biopharmaceutical company’s stock valued at $50,288,000 after acquiring an additional 644,428 shares during the period. Congress Asset Management Co. MA grew its stake in Dynavax Technologies by 0.4% in the fourth quarter. Congress Asset Management Co. MA now owns 227,135 shares of the biopharmaceutical company’s stock valued at $3,175,000 after acquiring an additional 799 shares during the period. Vanguard Group Inc. grew its stake in Dynavax Technologies by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 9,275,788 shares of the biopharmaceutical company’s stock valued at $129,676,000 after acquiring an additional 128,897 shares during the period. Diversified Trust Co boosted its position in shares of Dynavax Technologies by 3.2% during the first quarter. Diversified Trust Co now owns 29,548 shares of the biopharmaceutical company’s stock valued at $367,000 after buying an additional 925 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Dynavax Technologies by 19.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 140,622 shares of the biopharmaceutical company’s stock valued at $1,745,000 after buying an additional 22,548 shares during the last quarter. Institutional investors and hedge funds own 96.96% of the company’s stock.

Dynavax Technologies Trading Up 2.5 %

NASDAQ DVAX opened at $11.03 on Thursday. The business has a 50 day simple moving average of $11.05 and a 200 day simple moving average of $11.28. Dynavax Technologies has a one year low of $9.74 and a one year high of $15.15. The stock has a market capitalization of $1.44 billion, a P/E ratio of 183.83 and a beta of 1.37. The company has a debt-to-equity ratio of 0.35, a current ratio of 14.18 and a quick ratio of 13.18.

Dynavax Technologies (NASDAQ:DVAX) last announced its quarterly earnings data on Tuesday, August 6th. The biopharmaceutical company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Dynavax Technologies had a return on equity of 2.76% and a net margin of 6.88%. The firm had revenue of $73.80 million during the quarter, compared to analysts’ expectations of $76.92 million. During the same quarter last year, the firm posted $0.03 earnings per share. Research analysts expect that Dynavax Technologies will post 0.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

DVAX has been the subject of a number of analyst reports. The Goldman Sachs Group lowered their price objective on Dynavax Technologies from $20.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. HC Wainwright restated a “buy” rating and set a $29.00 price objective on shares of Dynavax Technologies in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.67.

Dynavax Technologies Company 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.