Dynavax Technologies Down 36.4%, Shares Slide into the Red (DVAX)

Published on Mon, 02/25/2013 - 11:23
By Peter Chu in Market movers, DVAX, dynavax technologies, nasdaq:dvax, penny stocks

Dynavax Technologies (NASDAQ:DVAX) is one of today's worst performing low-priced stocks, down 36.4% to $1.89 on 4.5x average daily volume. Thus far today, Dynavax Technologies has traded 12.8 million shares, vs. average volume of 2.8 million shares per day. The stock has underperformed the Dow (-35.7% to the Dow's 0.0%) and underperformed the S&P 500 (-35.7% to the S&P's 0.0%) during today's trading.

Dynavax Technologies Corporation discovers, develops, and is seeking to commercialize products based on immunostimulatory sequences. The Company is developing products to treat and prevent allergies, infectious diseases, and chronic inflammatory diseases using approaches that alter immune system responses in specific ways.

Potential upside of 210.8% exists for Dynavax Technologies, based on a current level of $1.89 and analysts' average consensus price target of $5.88. The stock should find initial resistance at its 50-day moving average (MA) of $2.99 and further resistance at its 200-day MA of $3.75.

Dynavax Technologies share prices have moved between a 52-week high of $5.34 and a 52-week low of $1.75 and are now trading 8% above that low price at $1.89 per share. The 200-day and 50-day moving averages have moved 1.15% lower and 0.84% higher over the past week, respectively.

By Peter Chu
pchu@fnno.com

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