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Dynavax (DVAX): Biopharmaceutical company to float Q4 report soon

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  • The company is to release its Q4 report on the earnings day on February 23, 2023. 
  • Vanguard Group has increased its stake in the company by 3.60%.  

Dynavax Technologies Corp. is a biopharmaceutical company founded in 1996 and headquartered in Emeryville, California. DVAX is engaged in discovering, developing, and commercializing novel vaccines and immuno-oncology therapeutics. The company’s star product is HEPLISAV-B, which prevents infections caused by all the known subtypes of hepatitis-B viruses in adults 18 years and above. 

Fourth Quarter Results – DVAX

The company will present the financial results and fourth quarterly report for 2022 on February 23, 2023. The next earnings date of DVAX is also the same. Dynavax will be hosting a conference call through a live audio webcast on Thursday at 4:30 EST. This conference and the financial findings could fuel the stock price rally. 

Vanguard increased its stake in the company

As per the recent SEC filings, Vanguard Group had considerably increased its stake in the company. The previous filing on February 12, 2014, shows that they held 7.74 MM shares meaning 2.94% of the company. Recent filings show that they own 8.34 MM shares and 6.54% of the company. The total increase in ownership is 3.60%. 

DVAX – Price Analysis

At the time of writing, it was trading at $11.00 with a drop of 1.96%, while the previous close was at $11.22, and the open was at $11.31. The fifty-two-week range is from $7.26 to $11.48, meaning it’s closer to the higher range of the spectrum. The market cap stands strong at $1.403 billion, while the volume is 930,843 shares, and the average volume is 1.34 million. 

The next earnings date is fixed on February 23, 2023. The PE ratio is 4.98, and the profit margin is 44.42%. The company’s revenue is $732.6 million, and quarterly revenue growth year-on-year is 54.90%, making revenue per share $5.86. The Analyst’s rating is 3.00 for buy. Short interest is bearish, with 10.32% of shares sold short. The price target is estimated to be $21.50, which is a 95.45% upside. At the same time, projected earnings growth is decreasing from $1.45 to $0.37 per share. 

DVAX – Chart Analysis

The chart clearly shows a breakthrough in the downward-sloping trend line. Although it was a clear breakthrough, the market could not sustain the rally consolidated a bit and seems to be returning to the demand zone. 

Source: DVAX TradingView

The recent formation hints towards a slightly bearish trend. If this continues, the price will go down to the demand zone represented by $10.30 and $9.78. A silver lining here is that this scenario could present decent buying opportunities. However, chances for a bull run could occur if a piece of positive news hits the market, although a chance of a clear breakthrough is debatable. 

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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