Dynavax Technologies (DVAX) Downgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Dynavax Technologies (NASDAQ:DVAX) from an overweight rating to a neutral rating in a report released on Wednesday morning, Marketbeat Ratings reports. JPMorgan Chase & Co. currently has $25.00 target price on the biopharmaceutical company’s stock, down from their prior target price of $31.00.

Several other brokerages have also recently issued reports on DVAX. Cowen restated a buy rating and issued a $30.00 price objective on shares of Dynavax Technologies in a research note on Friday, November 3rd. Cantor Fitzgerald raised their price objective on Dynavax Technologies from $24.00 to $25.00 and gave the stock an overweight rating in a research note on Thursday, November 9th. ValuEngine cut Dynavax Technologies from a hold rating to a sell rating in a research note on Friday, December 1st. BidaskClub cut Dynavax Technologies from a buy rating to a hold rating in a research note on Wednesday, December 6th. Finally, Zacks Investment Research cut Dynavax Technologies from a hold rating to a sell rating in a research note on Wednesday, January 10th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $24.83.

Dynavax Technologies (DVAX) opened at $17.23 on Wednesday. Dynavax Technologies has a 12 month low of $3.90 and a 12 month high of $24.45. The stock has a market capitalization of $1,033.17, a PE ratio of -8.83 and a beta of 1.08.

In related news, VP David Louis Johnson sold 3,092 shares of Dynavax Technologies stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $18.60, for a total transaction of $57,511.20. Following the completion of the transaction, the vice president now directly owns 7,780 shares in the company, valued at $144,708. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert Coffman sold 7,500 shares of Dynavax Technologies stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $18.90, for a total value of $141,750.00. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.

Hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC raised its position in Dynavax Technologies by 54.5% during the second quarter. Cubist Systematic Strategies LLC now owns 10,493 shares of the biopharmaceutical company’s stock valued at $101,000 after acquiring an additional 3,700 shares in the last quarter. Legal & General Group Plc raised its position in Dynavax Technologies by 18.5% during the second quarter. Legal & General Group Plc now owns 12,501 shares of the biopharmaceutical company’s stock valued at $121,000 after acquiring an additional 1,950 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Dynavax Technologies by 474.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,120 shares of the biopharmaceutical company’s stock valued at $153,000 after acquiring an additional 5,880 shares in the last quarter. Royal Bank of Canada raised its position in Dynavax Technologies by 17.0% during the second quarter. Royal Bank of Canada now owns 20,454 shares of the biopharmaceutical company’s stock valued at $198,000 after acquiring an additional 2,975 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in Dynavax Technologies by 26.3% during the second quarter. Voya Investment Management LLC now owns 21,403 shares of the biopharmaceutical company’s stock valued at $207,000 after acquiring an additional 4,462 shares in the last quarter. Institutional investors own 68.60% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This article was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this article on another publication, it was illegally copied and reposted in violation of United States & international copyright & trademark laws. The original version of this article can be read at https://ledgergazette.com/2018/02/17/dynavax-technologies-dvax-downgraded-by-jpmorgan-chase-co.html.

About Dynavax Technologies

Dynavax Technologies Corporation is a clinical-stage immunotherapy company. The Company is focused on leveraging the body’s innate and adaptive immune responses through toll-like receptor (TLR) stimulation. Its product candidates are being investigated for use in multiple cancer indications, as a vaccine for the prevention of hepatitis B and as a disease modifying therapy for asthma.

Analyst Recommendations for Dynavax Technologies (NASDAQ:DVAX)

Receive News & Ratings for Dynavax Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Dynavax Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply