Dynavax Technologies Corporation (DVAX) Is Up, So Why Am I Smiling?

The biggest gainers of the session on the Wall Street include Dynavax Technologies Corporation (NASDAQ:DVAX), which rose 0.23 points or 5.18% to trade at $4.57 as last check. The stock closed last session at $4.34 and sets an active trading volume day with a reported 1156102 contracts so far this session. DVAX shares had a relatively better volume day versus average trading capacity of 1.7 million shares, but with a 64.1 million float and a 4.83% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for DVAX stock indicates that the average analyst price target is $22.5 per share. This means the stock has a potential increase of 392.34% from where the DVAX share price has been trading recently which is between $4.3 and $4.73. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $12.

The shorts are climbing into Dynavax Technologies Corporation (DVAX) stock. The latest set of short interest data was released on 15 August 2019, and the numbers show a rise in short interest in DVAX shares. While short interest still represents only 29.02% of DVAX’s float, the number of shares shorted have risen by 1075657. The number of shares shorted advanced to 18605508 shares, up from 17529851 shares during the preceding fortnight. With average daily trading volumes at 2230451 shares, days to cover decreased to about 10.39126 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Edited Transcript of DVAX earnings conference call or presentation 7-Aug-19 8:30pm GMT” and dated August 28, 2019.

During the recent trading session for Dynavax Technologies Corporation (NASDAQ:DVAX), the company witnessed their stock rise $0.02 over a week and surge $1.24 from the price 20 days ago. When compared to their established 52-week high of $13.75, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 10/22/18. The recent low of $2.6 stood for a -66.8% since 07/29/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.48 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.

Looking at the current readings for Dynavax Technologies Corporation, the two-week RSI stands at 62.34. This figure suggests that DVAX stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current DVAX readings is similarly very revealing as it has a stochastic reading of 55.04% at this stage. This figure means that DVAX share price today is being neutral.

Technical chart claims that Dynavax Technologies Corporation (DVAX) would settle between $4.61/share to $4.89/share level. However, if the stock price goes below the $4.18 mark, then the market for Dynavax Technologies Corporation becomes much weaker. If that happens, the stock price might even plunge as low as $4.03 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.06. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.

Analysts at Cantor Fitzgerald raised their recommendation on shares of DVAX from Neutral to Overweight in their opinion released on July 11. Cantor Fitzgerald analysts again handed out a Overweight recommendation to Dynavax Technologies Corporation (NASDAQ:DVAX) stock but they lifted target price for the shares in a flash note issued to investors on February 27. The target price has been raised from $32 to $28. Analysts at JP Morgan released an upgrade from Neutral to Overweight for the stock, in a research note that dated back to May 10.

DVAX equity has an average rating of 1.25, with the figure leaning towards a bullish end. 4 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 4 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 4 analysts rated Dynavax Technologies Corporation (NASDAQ:DVAX) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.

Moving on, DVAX stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/E ratio is NA while for the average stock in the same group, the multiple is -6.49. Dynavax Technologies Corporation current P/B ratio of 26.67 means it is trading at a premium against its industry’s 3.44.

Dynavax Technologies Corporation (DVAX)’s current-quarter revenues are projected to climb by nearly 593.84% to hit $10.13 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 341.82% from $8.2 million to a noteworthy $36.22 million. At the other end of the current quarter income statement, Dynavax Technologies Corporation is expected to see its adjusted earnings surge by roughly 35.38% to hit $-0.42 per share. For the fiscal year, DVAX’s earnings are projected to climb by roughly 21.96% to hit $-1.99 per share.