Noteworthy Price Action: Could Dynavax Technologies Corporation Change Direction After Today’s Gap Up?

Noteworthy Price Action: Could Dynavax Technologies Corporation Change Direction After Today's Gap Up?

The stock of Dynavax Technologies Corporation (NASDAQ:DVAX) gapped up by $0.49 today and has $18.97 target or 52.00% above today’s $12.48 share price. The 8 months technical chart setup indicates low risk for the $487.89 million company. The gap was reported on Oct, 4 by Barchart.com. If the $18.97 price target is reached, the company will be worth $253.70 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 18.97% or $1.99 during the last trading session, hitting $12.48. About 5.84 million shares traded hands or 184.88% up from the average. Dynavax Technologies Corporation (NASDAQ:DVAX) has declined 25.67% since March 1, 2016 and is downtrending. It has underperformed by 37.89% the S&P500.

Analysts await Dynavax Technologies Corporation (NASDAQ:DVAX) to report earnings on November, 3. They expect $-0.74 earnings per share, up 9.76% or $0.08 from last year’s $-0.82 per share. After $-0.75 actual earnings per share reported by Dynavax Technologies Corporation for the previous quarter, Wall Street now forecasts -1.33% EPS growth.

Dynavax Technologies Corporation (NASDAQ:DVAX) Ratings Coverage

Out of 2 analysts covering Dynavax Technologies (NASDAQ:DVAX), 0 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 0 are positive. Dynavax Technologies has been the topic of 4 analyst reports since August 12, 2015 according to StockzIntelligence Inc. JP Morgan downgraded the stock to “Neutral” rating in Wednesday, April 27 report. The rating was upgraded by Zacks on Wednesday, August 12 to “Hold”. The stock of Dynavax Technologies Corporation (NASDAQ:DVAX) earned “Sector Perform” rating by RBC Capital Markets on Thursday, April 28. As per Monday, November 30, the company rating was initiated by RBC Capital Markets.

According to Zacks Investment Research, “Dynavax Technologies discovers, develops, and intends to commercialize innovative products to treat and prevent allergies, infectious diseases, and chronic inflammatory diseases using versatile, proprietary approaches that alter immune system responses in highly specific ways. Dynavax’s clinical development programs are based on immunostimulatory sequences which are short DNA sequences that enhance the ability of the immune system to fight disease and control chronic inflammation.”

Insitutional Activity: The institutional sentiment decreased to 1.02 in Q2 2016. Its down 0.04, from 1.06 in 2016Q1. The ratio fall, as 18 funds sold all Dynavax Technologies Corporation shares owned while 34 reduced positions. 10 funds bought stakes while 43 increased positions. They now own 31.67 million shares or 4.27% less from 33.08 million shares in 2016Q1.
Citadel Advsrs holds 28,713 shares or 0% of its portfolio. Nationwide Fund last reported 0% of its portfolio in the stock. Eventide Asset Management Llc last reported 0.22% of its portfolio in the stock. Panagora Asset has invested 0.02% of its portfolio in Dynavax Technologies Corporation (NASDAQ:DVAX). Pictet Asset Mngmt has 246,492 shares for 0.02% of their US portfolio. Goldman Sachs Grp Inc, a New York-based fund reported 480,802 shares. Claar Advsr Lc has invested 0.91% of its portfolio in Dynavax Technologies Corporation (NASDAQ:DVAX). Schwab Charles Invest last reported 131,952 shares in the company. Hatteras Funds Limited Liability last reported 10,590 shares in the company. Swiss National Bank accumulated 0% or 58,778 shares. Sabby Mngmt Lc has invested 0.22% of its portfolio in Dynavax Technologies Corporation (NASDAQ:DVAX). The Ohio-based Meeder Asset Mgmt has invested 0.01% in Dynavax Technologies Corporation (NASDAQ:DVAX). Polar Cap Llp accumulated 0.1% or 379,932 shares. Orbimed Advsrs Ltd Liability Co reported 2.40 million shares or 0.37% of all its holdings. Wells Fargo & Mn last reported 0% of its portfolio in the stock.

Insider Transactions: Since May 12, 2016, the stock had 2 insider buys, and 0 insider sales for $57,940 net activity. On Friday, May 20 the insider Gray Eddie bought $42,820. Another trade for 1,000 shares valued at $15,120 was made by Janssen Robert on Thursday, May 12.

More recent Dynavax Technologies Corporation (NASDAQ:DVAX) news were published by: Investorplace.com which released: “Dynavax Technologies Corporation (DVAX) Steals Back Gains on Pending Heplisav …” on October 03, 2016. Also Investorplace.com published the news titled: “Dynavax Technologies Corporation (DVAX) Injected With 20%-Plus Gains” on September 06, 2016. Prnewswire.com‘s news article titled: “Shareholder Alert: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …” with publication date: September 06, 2016 was also an interesting one.

DVAX Company Profile

Dynavax Technologies Corporation (Dynavax), incorporated on November 6, 2000, is a clinical-stage biopharmaceutical company. The Firm uses toll-like receptor (TLR) biology to discover and develop vaccines and therapeutics. The Company’s development programs are focused on vaccines and cancer immunotherapy. The Company’s lead vaccine product candidate is HEPLISAV-B, an investigational adult hepatitis B vaccine, which combines its TLR9 agonist adjuvant and recombinant hepatitis B surface antigen (rHBsAg). The Company’s lead cancer immunotherapy candidate is SD-101, a C Class CpG TLR9 agonist is selected for characteristics optimal for treatment of cancer, including high interferon induction. The Company’s SD-101 clinical program is intended to assess the preliminary efficacy of SD-101 in a range of tumors and in combination with a range of treatments. The Company’s advanced inflammatory disease candidate is AZD1419. The Company’s pipeline of product candidates for cancer immunotherapy includes DV281 and CpG-Nanoparticles, which are in the preclinical stage.

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