Short Interest in Dynavax Technologies Co. (NASDAQ:DVAX) Drops By 7.2%

Dynavax Technologies Co. (NASDAQ:DVAX – Get Rating) was the recipient of a large decrease in short interest during the month of December. As of December 30th, there was short interest totalling 12,800,000 shares, a decrease of 7.2% from the December 15th total of 13,800,000 shares. Based on an average daily volume of 1,780,000 shares, the days-to-cover ratio is currently 7.2 days.

Insider Activity at Dynavax Technologies

In related news, COO David F. Novack sold 52,204 shares of the company’s stock in a transaction on 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 owns 2,066 shares in the company, valued at approximately $25,763.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Dynavax Technologies news, COO David F. Novack sold 52,204 shares of the company’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $12.47, for a total transaction of $650,983.88. Following the completion of the transaction, the chief operating officer now owns 2,066 shares in the company, valued at approximately $25,763.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Andrew A. F. Hack sold 1,500,000 shares of the company’s stock in a transaction on Tuesday, December 6th. The stock was sold at an average price of $11.60, for a total transaction of $17,400,000.00. Following the transaction, the director now owns 3,915,000 shares of the company’s stock, valued at approximately $45,414,000. The disclosure for this sale can be found here. 9.31% of the stock is owned by insiders.

Institutional Investors Weigh In On Dynavax Technologies

A number of large investors have recently added to or reduced their stakes in DVAX. Advisors Asset Management Inc. grew its holdings in shares of Dynavax Technologies by 498.0% during the first quarter. Advisors Asset Management Inc. now owns 2,362 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 1,967 shares during the last quarter. Quantbot Technologies LP raised its position in shares of Dynavax Technologies by 940.7% during the first quarter. Quantbot Technologies LP now owns 2,508 shares of the biopharmaceutical company’s stock worth $27,000 after purchasing an additional 2,267 shares during the period. Banque Cantonale Vaudoise acquired a new stake in shares of Dynavax Technologies during the second quarter worth about $67,000. Creative Financial Designs Inc. ADV raised its position in shares of Dynavax Technologies by 1,875.0% during the third quarter. Creative Financial Designs Inc. ADV now owns 7,900 shares of the biopharmaceutical company’s stock worth $82,000 after purchasing an additional 7,500 shares during the period. Finally, KBC Group NV acquired a new stake in shares of Dynavax Technologies during the third quarter worth about $100,000. 94.26% of the stock is owned by institutional investors and hedge funds.

Dynavax Technologies Price Performance

Shares of DVAX traded up $0.05 during trading hours on Tuesday, reaching $11.63. The company had a trading volume of 207,807 shares, compared to its average volume of 1,270,594. The firm has a 50 day simple moving average of $11.51 and a 200-day simple moving average of $12.11. The company has a current ratio of 3.82, a quick ratio of 3.40 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 5.59 and a beta of 1.37. Dynavax Technologies has a 12-month low of $7.26 and a 12-month high of $17.48.

Dynavax Technologies (NASDAQ:DVAX – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The biopharmaceutical company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.10. The firm had revenue of $167.74 million for the quarter, compared to analysts’ expectations of $149.99 million. Dynavax Technologies had a net margin of 44.35% and a return on equity of 90.54%. Research analysts expect that Dynavax Technologies will post 1.93 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on DVAX shares. The Goldman Sachs Group cut their price objective on shares of Dynavax Technologies from $24.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, November 4th. StockNews.com downgraded shares of Dynavax Technologies from a “buy” rating to a “hold” rating in a report on Monday, November 7th. Finally, JMP Securities initiated coverage on shares of Dynavax Technologies in a report on Tuesday, September 27th. They issued an “outperform” rating and a $22.00 price target for the company.

About Dynavax Technologies

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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.