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Dynavax Technologies Corp (DVAX): Glenhill Advisors Adds to Its Position

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A recent 13G filing with the US Securities and Exchange Commission revealed that Glenn J. Krevlin‘s Glenhill Advisors raised its stake in Dynavax Technologies Corp (NASDAQ:DVAX) to 2.11 million shares, which represent 5.5% of the float. The fund’s stake was raised from 1.29 million shares reported in its last 13F filing (for the end of June).

Dynavax Technologies Corporation is a clinical-stage biopharmaceutical company engaged in developing various therapeutics for the treatment of various illnesses, such as cancer,  and autoimmune and inflammatory diseases. Year-to-date, the company’s stock is down by 49.88%. For the second quarter of 2016, Dynavax Technologies disclosed a loss per share of $0.75, missing the estimates of a loss per share of $0.68, and revenue of $2.65 million, topping the estimates of $1.19 million.

There has been a lot of analyst’ ratings activity on Dynavax Technologies’ stock lately; William Blair reiterated its ‘Buy’ rating with a price target of $45, and RBC Capital Markets reiterated its ‘Sector Perform’ rating on it, with a price target of $16. Cowen and Company reiterated its ‘Outperform’ rating with a price target of $45, and S&P Equity Research boosted its price target on the stock to $16.01 from $11.28.

 

Glenn Krevlin

The number of hedge funds from our database long Dynavax Technologies (NASDAQ:DVAX) decreased by six recently, and at the end of June, there were 23 investors bullish on the stock. Among them were Richard Mashaal’s Rima Senvest Management with a position worth around $14.55 million, Kevin Kotler’s Broadfin Capital, which held a position valued at $7.99 million, Scott Scher & Michael Prober’s Clovis Capital Management, Brian Ashford-Russell And Tim Woolley’s Polar Capital, and Hal Mintz’s Sabby Capital.

Investors who lost optimism for investing in Dynavax Technologies (NASDAQ:DVAX) and decided to sell their positions during the June quarter encompassed Richard Driehaus’ Driehaus Capital, which dumped its position valued at the end of March at $2.92 million, Emmanuel Ferreira’s Convector Capital, which said goodbye to a position worth around $963,000, and Paul Marshall And Ian Wace’s Marshall Wace LLP.

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Glenhill Advisors 1,547,865 560,899 2,108,764 0 2,108,764 5.5%
Glenn J. Krevlin 1,547,865 560,899 2,108,764 0 2,108,764 5.5%
Glenhill Capital Advisors 0 2,108,764 0 2,108,764 2,108,764 5.5%
Glenhill Capital Management 0 1,547,865 0 1,547,865 1,547,865 4.0%

Glenn J. Krevlin
Glenn J. Krevlin
Glenhill Advisors

Page 1 of 9 – SEC Filing

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. __)*

 

 

DYNAVAX
TECHNOLOGIES CORPORATION

(Name of Issuer)

Common Stock

(Title of
Class of Securities)

268158201

(CUSIP Number)

September 7, 2016

(Date of Event Which Requires Filing of this Statement)

 

 

Check the appropriate box to
designate the rule pursuant to which this Schedule is filed:

¨ Rule 13d-1(b)
x Rule 13d-1(c)
¨ Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting persons initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information
which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover
page shall not be deemed to be filed for the purpose of Section 18 of the Securities Exchange Act of 1934 (Act) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).

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