Dynavax Technologies Co. (NASDAQ:DVAX) Sees Significant Increase in Short Interest – MarketBeat
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Dynavax Technologies Co. (NASDAQ:DVAX – Get Rating) was the target of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 15,730,000 shares, a growth of 9.2% from the October 31st total of 14,400,000 shares. Based on an average daily volume of 1,850,000 shares, the short-interest ratio is currently 8.5 days.
Insider Activity at Dynavax Technologies
In related news, COO David F. Novack sold 52,204 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $12.47, for a total value of $650,983.88. Following the completion of the sale, the chief operating officer now directly owns 2,066 shares in the company, valued at approximately $25,763.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 9.31% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the business. E Fund Management Co. Ltd. increased its holdings in shares of Dynavax Technologies by 112.5% during the first quarter. E Fund Management Co. Ltd. now owns 27,513 shares of the biopharmaceutical company’s stock worth $298,000 after purchasing an additional 14,567 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Dynavax Technologies by 200.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 336,151 shares of the biopharmaceutical company’s stock valued at $4,232,000 after acquiring an additional 224,261 shares during the last quarter. Everence Capital Management Inc. bought a new position in Dynavax Technologies in the second quarter valued at approximately $253,000. Edmond DE Rothschild Holding S.A. increased its stake in Dynavax Technologies by 430.0% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 2,445,000 shares of the biopharmaceutical company’s stock valued at $26,504,000 after acquiring an additional 1,983,700 shares during the last quarter. Finally, Maryland State Retirement & Pension System bought a new position in Dynavax Technologies in the second quarter valued at approximately $599,000. 96.66% of the stock is owned by institutional investors.
Dynavax Technologies Stock Performance
Shares of DVAX traded up $0.18 during mid-day trading on Friday, hitting $12.72. 1,216,519 shares of the company’s stock were exchanged, compared to its average volume of 1,648,438. Dynavax Technologies has a 52 week low of $7.26 and a 52 week high of $17.48. The stock’s 50-day simple moving average is $11.67 and its 200-day simple moving average is $12.30. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 6.14 and a beta of 1.34. The company has a quick ratio of 3.40, a current ratio of 3.82 and a debt-to-equity ratio of 0.44.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group cut their target price on shares of Dynavax Technologies from $24.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, November 4th. TheStreet cut shares of Dynavax Technologies from a “b-” rating to a “c+” rating in a report on Thursday, September 1st. StockNews.com cut shares of Dynavax Technologies from a “buy” rating to a “hold” rating in a report on Monday, November 7th. Finally, JMP Securities assumed coverage on shares of Dynavax Technologies in a report on Tuesday, September 27th. They issued an “outperform” rating and a $22.00 price target on the stock. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.67.
About Dynavax Technologies
(Get Rating)
Dynavax Technologies Corporation, a biopharmaceutical company, focuses on developing and commercializing novel vaccines in the United States. The company 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.
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