Is Dynavax Technologies Corporation (NASDAQ:DVAX) a good investment right now? We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, expert networks, and get tips from industry insiders. They fail miserably sometimes but historically their consensus stock picks outperformed the market after adjusting for known risk factors.
Dynavax Technologies Corporation (NASDAQ:DVAX) was in 32 hedge funds’ portfolios at the end of the third quarter of 2015. DVAX investors should be aware of an increase in hedge fund sentiment lately. There were 27 hedge funds in our database with DVAX holdings at the end of the previous quarter. At the end of this article we will also compare DVAX to other stocks including Infoblox Inc (NYSE:BLOX), Evolent Health Inc (NYSE:EVH), and Genesis Healthcare Inc (NYSE:GEN) to get a better sense of its popularity.
Keeping this in mind, we’re going to take a peek at the latest action surrounding Dynavax Technologies Corporation (NASDAQ:DVAX).
What does the smart money think about Dynavax Technologies Corporation (NASDAQ:DVAX)?
At Q3’s end, a total of 32 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 19% from the second quarter. With hedgies’ capital changing hands, there exists a select group of noteworthy hedge fund managers who were boosting their stakes significantly (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, Samuel Isaly’s OrbiMed Advisors has the biggest position in Dynavax Technologies Corporation (NASDAQ:DVAX), worth close to $60.7 million, accounting for 0.6% of its total 13F portfolio. On OrbiMed Advisors’s heels is Amici Capital, managed by Paul Orlin and Alex Porter, which holds a $48.6 million position; 2.3% of its 13F portfolio is allocated to the stock. Remaining hedge funds and institutional investors that are bullish contain Ken Griffin’s Citadel Investment Group, Brian Ashford-Russell and Tim Woolley’s Polar Capital and Kevin Kotler’s Broadfin Capital.