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Hedge Funds Are Buying Dynavax Technologies Corporation (DVAX)

As industrywide interest jumped, key hedge funds were leading the bulls’ herd. OrbiMed Advisors, managed by Samuel Isaly, created the most outsized position in Dynavax Technologies Corporation (NASDAQ:DVAX). OrbiMed Advisors had $60.7 million invested in the company at the end of the quarter. Jeremy Green’s Redmile Group also made a $17.8 million investment in the stock during the quarter. The other funds with brand new DVAX positions are Ken Greenberg and David Kim’s Ghost Tree Capital, Kris Jenner, Gordon Bussard, Graham McPhail’s Rock Springs Capital Management, and Julian Baker and Felix Baker’s Baker Bros. Advisors.

Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as Dynavax Technologies Corporation (NASDAQ:DVAX) but similarly valued. We will take a look at Infoblox Inc (NYSE:BLOX), Evolent Health Inc (NYSE:EVH), Genesis Healthcare Inc (NYSE:GEN), and Rush Enterprises, Inc. (NASDAQ:RUSHB). This group of stocks’ market values match DVAX’s market value.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
BLOX 24 207164 -5
EVH 11 27697 -2
GEN 12 32539 -2
RUSHB 4 31691 -2

As you can see these stocks had an average of 12.75 hedge funds with bullish positions and the average amount invested in these stocks was $75 million. That figure was $348 million in DVAX’s case. Infoblox Inc (NYSE:BLOX) is the most popular stock in this table. On the other hand Rush Enterprises, Inc. (NASDAQ:RUSHB) is the least popular one with only 4 bullish hedge fund positions. Compared to these stocks Dynavax Technologies Corporation (NASDAQ:DVAX) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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