Federated Global Investment Manag.. recently announced the acquisition of new stake in Dynavax Technologies Corporation (NASDAQ:DVAX). The institutional investor has increased its shareholding in the Healthcare company by 14.33% to 11.17 million shares with purchase of 1.4 million shares. This fresh investment now brings its stake to 10.52% valued currently at $90.56 million. In addition, BlackRock Fund Advisors raised its holdings by 0.92 million to 6.16 million shares.
With over 4.6 million Dynavax Technologies Corporation (DVAX) shares trading Monday and a closing price of $5.98 on the day, the dollar volume was approximately $27.52 million. The shares have shown a negative weekly performance of -0.50% and its price on 08/31/20 gained nearly 4.18%. Currently, there are 109.51M common shares owned by the public and among those 97.74M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 4 analysts who have offered their price forecasts for DVAX have a consensus price objective of $12.91. The analysts have set the share’s price value over the next 12 months at a high of $20.00 and a low of $6.72 should the stock experience a downside. Incidentally, analysts’ outlook for the Dynavax Technologies Corporation stock is 1.70 for the next 12 months. But an upside of 70.1% will see the stock hit the forecast high price target while mean target price for the stock is $12.00.
Insiders at the company have transacted a total of 25 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 180,958 shares. Insider sales of the common stock occurred on 12 occasions, with total insider shares sold totaling 190,053 shares.
The top 3 mutual fund holders in Dynavax Technologies Corporation are Federated Hermes Kaufmann Fund, Federated Hermes Kaufmann Small C, and SPDR S&P Biotech ETF. Federated Hermes Kaufmann Fund owns 6.17 million shares of the company’s stock, all valued at over $50.08 million. The company bought an additional 0.78 million shares recently to bring their total holdings to about 5.82% of the shares outstanding. Federated Hermes Kaufmann Small C bought 0.6 million shares to see its total holdings expand to 4.83 million shares valued at over $39.13 million and representing 4.54% of the shares outstanding. SPDR S&P Biotech ETF sold 35826.0 shares to bring its total holdings to over 3.58 million shares at a value of $29.0 million. SPDR S&P Biotech ETF now owns shares totaling to 3.37% of the shares outstanding.
Shares of Dynavax Technologies Corporation (NASDAQ: DVAX) opened at $5.95, up $0.21 from a prior closing price of $5.74. However, the script later closed the day at $5.98, up 4.18%. The company’s stock has a 5-day price change of -0.50% and -16.71% over the past three months. DVAX shares are trading 4.55% year to date (YTD), with the 12-month market performance up to 44.44% higher. It has a 12-month low price of $1.80 and touched a high of $12.44 over the same period. Currently, 4.6 million shares have been traded, compared to an average intraday trading volume of 7.16 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -16.11%, -26.78%, and 3.83% respectively.
Institutional ownership of Dynavax Technologies Corporation (NASDAQ: DVAX) shares accounts for 74.10% of the company’s 109.51M shares outstanding. Mutual fund holders own 32.99%, while other institutional holders and individual stakeholders account for 34.13% and 0.90% respectively.
It has a market capitalization of $684.59M and a beta (3y monthly) value of 0.97. The earnings-per-share (ttm) stands at -$1.60. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.99% over the week and 8.69% over the month.
Analysts forecast that Dynavax Technologies Corporation (DVAX) will achieve an EPS of -$0.2 for the current quarter, -$0.19 for the next quarter and -$0.65 for 2021. The lowest estimate earnings-per-share for the quarter is -$0.24 while analysts give the company a high EPS estimate of -$0.14. Comparatively, EPS for the current quarter was -$0.49 a year ago. Earnings per share for the fiscal year are expected to increase by 15.10%, and 42.00% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 4 brokerage firm advisors rate Dynavax Technologies Corporation (DVAX) as a “Strong Buy” at a consensus score of 1.70. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 0 of the 4 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the DVAX, a number of firms have released research notes about the stock. H.C. Wainwright stated their Buy rating for the stock in a research note on August 07, 2020, with the firm’s price target at $14-$12. H.C. Wainwright coverage for the Dynavax Technologies Corporation (DVAX) stock in a research note released on August 03, 2020 offered a Buy rating with a price target of $14. Evercore ISI was of a view on June 15, 2020 that the stock is Outperform, while H.C. Wainwright gave the stock Buy rating on October 18, 2019, issuing a price target of $13. Cantor Fitzgerald on their part issued Overweight rating on July 11, 2019.