Dynavax Technologies (DVAX) jumped 10.94% to close at $10.65 per share Monday. Another big move higher especially given Dynavax’s approximate $580 million market cap. The gap up was enough to capture the Daily Stock Challenge Breakout award in July’s Stock Challenge.
Dynavax Breaks Above 50 and 200 Day Moving Averages
Dynavax Technologies’ 50-day moving average is $8.73 and its 200-day moving average is $6.02. The biotech stock has broken through all resistance and continues to be revalued. Check out the company’s 6-month chart below:
Dynamax 6-Month Chart
A key focus for Dynamax is cancer immunotherapy. According to the company,
“Utilizing Toll-like Receptor biology to leverage the power of the body’s immune response to stimulate multiple innate mechanisms, activating a cascade of anti-tumor activities.”
Furthermore, its lead product is the SD-101 a proprietary investigational TLR9 agonist designed to elicit a potent and focused immune response to cancer. Certainly, “By targeting TLR9 in both the early and late endosomes of plasmacytoid dendritic cells, SD-101 is intended to stimulate multiple mechanisms of tumor killing.”
Shane Hupp at Ticker Report wrote over the weekend that,
“Kornitzer Capital Management Inc. KS increased its stake in shares of Dynavax Technologies Corporation by 90.3% in the first quarter. Kornitzer Capital Management Inc. KS now owns 1,098,510 shares of the biopharmaceutical company’s stock valued at $6,536,000 after buying an additional 521,310 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Dynavax Technologies Corporation during the fourth quarter valued at approximately $1,833,000.”
Dynavax Up in July Stock Challenge
Long-time and prolific Stock Challenge Competitor, ‘Rainendown‘ has moved into the lead with a 25.94% return. There are only five trading days left in July’s Stock Challenge; and a total of four members have a better than 20% combined average return.