Dynavax Technologies Corporation (NASDAQ: DVAX) stock jumped 3.29% on Thursday to $14.13 against a previous-day closing price of $13.68. With 1.98 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.83 million shares. During the session, the Drug Manufacturers – Specialty & Generic company that operates in wider Healthcare sector, reached to the highest price of $14.19 whereas the lowest price it dropped to was $13.67. The 52-week range on DVAX shows that it touched its highest point at $15.12 and its lowest point at $9.42 during that stretch. It currently has a 1-year price target of $24.50. Beta for the stock currently stands at 1.52.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of DVAX was up-trending over the past week, with a rise of 2.61%, but this was down by -1.60% over a month. Three-month performance surged to 11.97% while six-month performance rose 44.92%. The stock gained 25.82% in the past year, while it has gained 32.80% so far this year. A look at the trailing 12-month EPS for DVAX yields 0.70 with Next year EPS estimates of 0.09. For the next quarter, that number is -0.02. This implies an EPS growth rate of 258.10% for this year and 140.90% for next year.
Float and Shares Shorts:
At present, 128.62 million DVAX shares are outstanding with a float of 128.51 million shares on hand for trading. On Aug 30, 2023, short shares totaled 14.03 million, which was 10.89% higher than short shares on Jul 30, 2023. In addition to Mr. Ryan Spencer as the firm’s CEO & Director, Mr. David F. Novack serves as its Pres & COO.
Through their ownership of 100.52% of DVAX’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 50.47% of DVAX, in contrast to 47.58% held by mutual funds. Shares owned by individuals account for 1.41%. As the largest shareholder in DVAX with 13.69% of the stake, BlackRock Fund Advisors holds 17,587,958 shares worth 17,587,958. A second-largest stockholder of DVAX, Federated Global Investment Manag, holds 12,615,363 shares, controlling over 9.82% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in DVAX, holding 8,551,727 shares or 6.66% stake. With a 6.57% stake in DVAX, the iShares Core S&P Small Cap ETF is the largest stakeholder. A total of 8,439,433 shares are owned by the mutual fund manager. The Federated Hermes Kaufmann Fund, which owns about 5.12% of DVAX stock, is the second-largest Mutual Fund holder. It holds 6,572,140 shares valued at 91.94 million. Federated Hermes Kaufmann Small C holds 4.55% of the stake in DVAX, owning 5,848,585 shares worth 81.82 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, DVAX reported revenue of $256.46M and operating income of $127.23M. The EBITDA in the recently reported quarter was $130.41M and diluted EPS was $0.87.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for DVAX since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With DVAX analysts setting a high price target of $27.00 and a low target of $21.00, the average target price over the next 12 months is $24.50. Based on these targets, DVAX could surge 91.08% to reach the target high and rise by 48.62% to reach the target low. Reaching the average price target will result in a growth of 73.39% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded DVAX stock several times over the past three months with 5 Buys and 6 Sells. In these transactions, 50,661 shares were bought while 1,550,661 shares were sold. The number of buy transactions has increased to 30 while that of sell transactions has risen to 28 over the past year. The total number of shares bought during that period was 236,784 while 4,700,451 shares were sold.