Dynavax Technologies (NasdaqCM:DVAX) - Share price, News & Analysis

DVAX fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	0/6
Past Performance	4/6
Financial Health	5/6
Dividends	0/6

DVAX Stock Overview

Dynavax Technologies Corporation, a biopharmaceutical company, focuses on developing and commercializing novel vaccines in the United States.

Rewards

Trading at 43.1% below our estimate of its fair value

Became profitable this year

Risk Analysis

Earnings are forecast to decline by an average of 25.3% per year for the next 3 years

Significant insider selling over the past 3 months

Shareholders have been diluted in the past year

Dynavax Technologies Competitors

VBI Vaccines

NasdaqCM:VBIV

US$222.6m

Merck

NYSE:MRK

US$233.4b

GSK

LSE:GSK

UK£89.0b

Price History & Performance

Summary of all time highs, changes and price drops for Dynavax Technologies
Historical stock prices
Current Share Price	US$11.68
52 Week High	US$21.39
52 Week Low	US$7.26
Beta	1.43
1 Month Change	23.73%
3 Month Change	-6.41%
1 Year Change	40.55%
3 Year Change	135.01%
5 Year Change	106.73%
Change since IPO	-87.57%

Recent News & Updates

May 23

Dynavax: Evolving Endemic Situation Adds To Its Risk

DVAX will do well as long as the coronavirus vaccine demand exists. While the urgency is somewhat abated, an evolving endemic situation may continue to need CpG 1018. If it doesn't, HEPLISAV-B alone will not save the day.

May 12

Dynavax Technologies' (NASDAQ:DVAX) Performance Is Even Better Than Its Earnings Suggest

Dynavax Technologies Corporation ( NASDAQ:DVAX ) just reported healthy earnings but the stock price didn't move much...

May 10

Dynavax Technologies (NASDAQ:DVAX) Could Easily Take On More Debt

Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

Shareholder Returns

	DVAX	US Biotechs	US Market
7D	4.5%	0.4%	1.0%
1Y	40.6%	-22.1%	-15.1%

Return vs Industry: DVAX exceeded the US Biotechs industry which returned -22.1% over the past year.

Return vs Market: DVAX exceeded the US Market which returned -15.1% over the past year.

Price Volatility

Is DVAX's price volatile compared to industry and market?
DVAX volatility
DVAX Average Weekly Movement	11.7%
Biotechs Industry Average Movement	12.4%
Market Average Movement	7.8%
10% most volatile stocks in US Market	16.8%
10% least volatile stocks in US Market	2.9%

Stable Share Price: DVAX is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 12% a week.

Volatility Over Time: DVAX's weekly volatility (12%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1996	311	Ryan Spencer	https://www.dynavax.com

Dynavax Technologies Corporation, a biopharmaceutical company, focuses on developing and commercializing novel vaccines in the United States. The company markets HEPLISAV-B, a hepatitis B vaccine for prevention of infection caused by all known subtypes of hepatitis B virus in age 18 years and older in the United States and Europe. It also manufactures and sells CpG 1018, the adjuvant used in HEPLISAV-B.

Dynavax Technologies Fundamentals Summary

How do Dynavax Technologies's earnings and revenue compare to its market cap?
DVAX fundamental statistics
Market Cap	US$1.48b
Earnings (TTM)	US$104.05m
Revenue (TTM)	US$468.90m

14.2x

P/E Ratio

3.1x

P/S Ratio

Is DVAX overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
DVAX income statement (TTM)
Revenue	US$468.90m
Cost of Revenue	US$218.95m
Gross Profit	US$249.95m
Other Expenses	US$145.90m
Earnings	US$104.05m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

n/a

Earnings per share (EPS)	0.82
Gross Margin	53.30%
Net Profit Margin	22.19%
Debt/Equity Ratio	76.8%

How did DVAX perform over the long term?

See historical performance and comparison

Valuation

Is Dynavax Technologies undervalued compared to its fair value and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

43.1%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: DVAX ($11.68) is trading below our estimate of fair value ($20.52)

Significantly Below Fair Value: DVAX is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: DVAX is good value based on its Price-To-Earnings Ratio (14.2x) compared to the US Biotechs industry average (15.4x).

PE vs Market: DVAX is good value based on its Price-To-Earnings Ratio (14.2x) compared to the US market (15.2x).

Price to Earnings Growth Ratio

PEG Ratio: DVAX's earnings are forecast to decline next year, so we can't calculate its PEG ratio.

Price to Book Ratio

PB vs Industry: DVAX is overvalued based on its Price-To-Book Ratio (5.1x) compared to the US Biotechs industry average (1.4x).

Future Growth

How is Dynavax Technologies forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

-25.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: DVAX's earnings are forecast to decline over the next 3 years (-25.3% per year).

Earnings vs Market: DVAX's earnings are forecast to decline over the next 3 years (-25.3% per year).

High Growth Earnings: DVAX's earnings are forecast to decline over the next 3 years.

Revenue vs Market: DVAX's revenue is expected to decline over the next 3 years (-7.7% per year).

High Growth Revenue: DVAX's revenue is forecast to decline over the next 3 years (-7.7% per year).

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: Insufficient data to determine if DVAX's Return on Equity is forecast to be high in 3 years time

Past Performance

How has Dynavax Technologies performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

26.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: DVAX has high quality earnings.

Growing Profit Margin: DVAX became profitable in the past.

Past Earnings Growth Analysis

Earnings Trend: DVAX has become profitable over the past 5 years, growing earnings by 26.7% per year.

Accelerating Growth: DVAX has become profitable in the last year, making the earnings growth rate difficult to compare to its 5-year average.

Earnings vs Industry: DVAX has become profitable in the last year, making it difficult to compare its past year earnings growth to the Biotechs industry (96.9%).

Return on Equity

High ROE: DVAX's Return on Equity (37.8%) is considered high.

Financial Health

How is Dynavax Technologies's financial position?

Financial Health Score

5/6

Financial Health Score 5/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: DVAX's short term assets ($940.5M) exceed its short term liabilities ($466.2M).

Long Term Liabilities: DVAX's short term assets ($940.5M) exceed its long term liabilities ($255.3M).

Debt to Equity History and Analysis

Debt Level: DVAX has more cash than its total debt.

Reducing Debt: Insufficient data to determine if DVAX's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: DVAX's debt is well covered by operating cash flow (111.9%).

Interest Coverage: DVAX's interest payments on its debt are well covered by EBIT (18.5x coverage).

Balance Sheet

Dividend

What is Dynavax Technologies's current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate DVAX's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate DVAX's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if DVAX's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if DVAX's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as DVAX has not reported any payouts.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

2.2yrs

Average management tenure

CEO

Ryan Spencer (43 yo)

2.42yrs

Tenure

US$4,519,489

Compensation

Mr. Ryan Spencer serves as the Chief Executive Officer and Director of Dynavax Technologies Corp. since December 16, 2019. He had been Co-President and Co-Principal Executive Officer of Dynavax Technologie...

CEO Compensation Analysis

Compensation vs Market: Ryan's total compensation ($USD4.52M) is about average for companies of similar size in the US market ($USD5.40M).

Compensation vs Earnings: Ryan's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: DVAX's management team is considered experienced (2.2 years average tenure).

Board Members

Experienced Board: DVAX's board of directors are considered experienced (3.9 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: DVAX insiders have only sold shares in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 10.2%.

Data	Last Updated (UTC time)
Company Analysis	2022/05/26 00:00
End of Day Share Price	2022/05/26 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31