The stock of Dynavax Technologies Corporation (NASDAQ:DVAX) is now priced at $5.74 and the shares are -0.26 points down or -4.33% lower compared to its previous closing price of $6. The stock had 5.733 million contracts set over the past session. DVAX shares’ daily volume is compared to its average trading volume at 6.86 million shares. However, it has a float of 97.74 million and although its performance was -11.56% over the week, it’s one to watch. It means the stock’s downside potential is -100% with the DVAX share price recently placing at $5.68 to $6.06. However, some brokerage firms have priced the stock below the average, including one that has called $6.72.
The shorts are climbing into the Dynavax Technologies Corporation stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the DVAX shares have risen. Short interest in the stock represents just 17.38% of its float, but the volume has raised by 469140. The volume of shorted shares rised to 16.992 million from 16.522 million shares over the last two weeks. The average intraday trading volume has been 5.186 million shares, which means that days to cover moved to roughly 3.276164.
In the last trading session, Dynavax Technologies Corporation (NASDAQ:DVAX) dropped by -$0.75 over the week and lost -$2.37 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $12.44. The stock recorded its established 52-week high on 07/20/20.
Since 03/16/20, the stock has traded to a low of $1.8 at 218.89%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.97. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Dynavax Technologies Corporation’s two-week RSI is 33.69. This suggests that the stock is neutral at the moment and that DVAX shares’ price movement remains stable. The stochastic readings are equally revealing at 10.44% meaning the DVAX share price is currently in overbought territory.
The technical chart shows that the DVAX stock will likely settle at between $5.97 and $6.21 per share. However, if the stock dips below $5.59, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $5.45.
Currently, the stock is trading in the red of MACD, with a reading of -0.3. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at H.C. Wainwright though dropped target price of DVAX stock from $14 to $12 but maintained Buy recommendation in their August 07 review. H.C. Wainwright analysts see the stock as a Buy, but they also raised the share’s target price from $12 to $14 in a flash note released to investors on August 03. Evercore ISI analysts see the stock as Outperform when the analysts initiated the share price coverage on June 15, placing it at $14.
The average rating for the DVAX equity is 1.75 and is currently gathering a bullish momentum. Of 4 analysts tracking Dynavax Technologies Corporation polled by Reuters, 0 rated DVAX as a hold. The remaining 4 analysts were split evenly. However, the split wasn’t equal as a majority (4) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Dynavax Technologies Corporation (NASDAQ:DVAX) will decrease by about -99.65%, which will see them reach $9.44 million. The company’s full-year revenues are, however, expected to increase by about 0.23%, up from $35.22 million to $35.3 million. DVAX’s expected adjusted earnings should drop almost -59.18% to end up at -$0.2 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -48.15% to record -$1.12/share.