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Thursday, September 23, 2021 9:31:11 PM
Jake Scott
Wed, September 22, 2021, 2:00 PM·2 min read
Biopharmaceutical concern Dynavax Technologies Corporation (NASDAQ:DVAX) is up 33.9% to trade at $19.90 this afternoon. This surge comes after news broke that Clover Biopharmaceuticals reported its Covid-19 vaccine candidate, which utilizes Dynavax's CpG 1018 adjuvant, was 67% overall effective against Covid-19 and 79% against the Delta variant. Even better, DVAX recently pulled back to a trendline with historically bullish implications, giving investors plenty of reason to believe that the stock could soon surge even higher on the charts.
Specifically, Dynavax stock just came within one standard deviation of the 40-day moving average, after spending much of the last three months above this trendline. According to data from Schaeffer's Senior Quantitative Analyst Rocky White, six similar signals have occurred in the past three years. The security enjoyed a positive return one month later in 60% of those cases, averaging a 22.9% gain. From its current perch, a similar move would put DVAX near the $24.45 mark, which represents territory not seen since early 2016.
On the charts, the security managed to reclaim a fresh three-year peak of $20.66. Today's positive price action also has DVAX pacing for a close above the 20-day moving average, after seven-straight closes below the trendline. Year-to-date, Dynavax stock boasts a 352.1% lead.
Options traders are bombarding the stock following today's vaccine news. So far, over 25,000 calls and 5,831 puts have exchanged hands, which is five times the intraday average. The most popular contract is the October 20 call, while new positions are being opened at the 19 call from the same series.
Short sellers have already been building their positions as well. Short interest has grown 22.2% in the last two reporting periods, and the 23.21 million shares sold short make up a healthy 20.3% of the equity's available float, or over six days' worth of pent-up buying power.
https://finance.yahoo.com/news/surging-dynavax-stock-could-soar-180013420.html
Recent DVAX News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/03/2024 09:37:54 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 12:32:55 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 12:30:49 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 12:28:17 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 12:26:33 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 12:23:47 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 12:21:48 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 12:19:28 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/29/2024 12:18:05 AM
- Dynavax to Present at Upcoming Investor Conferences • PR Newswire (US) • 05/28/2024 08:18:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/24/2024 08:05:18 PM
- Dynavax Provides Regulatory Update on sBLA for Four-Dose HEPLISAV-B® Regimen for Adults on Hemodialysis in the U.S. • PR Newswire (US) • 05/14/2024 12:30:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/08/2024 08:10:55 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/08/2024 08:05:25 PM
- Dynavax Reports First Quarter 2024 Financial Results and Provides Business Updates • PR Newswire (US) • 05/08/2024 08:01:00 PM
- Dynavax to Report First Quarter 2024 Financial Results and Host Conference Call on May 8, 2024 • PR Newswire (US) • 04/24/2024 08:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/04/2024 10:25:40 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 03/02/2024 01:17:21 AM
- Dynavax to Present at TD Cowen's 44th Annual Health Care Conference • PR Newswire (US) • 02/27/2024 11:54:00 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 02/22/2024 09:10:48 PM
- Dynavax Reports Fourth Quarter and Full Year 2023 Financial Results and Provides Full Year 2024 Financial Guidance • PR Newswire (US) • 02/22/2024 09:01:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 11:36:01 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 09:45:23 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 09:44:37 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/20/2024 09:43:41 PM
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