Dynavax Technologies reports pivotal trial results that boosted its share price by 26%. The company developed an adjuvant to make a COVID-19 vaccine more effective.
We are nowhere near the end of the pandemic. Yet, the good news is that many companies continue their R&D research on potential COVID-19 vaccines. Yesterday, Dynavax and its collaboration partner released positive trial results that used a booster to make the vaccine more effective.
Let’s find out more about Dynavax and why this news made investors push its stock 26.6% higher yesterday and over 30% in the past five days.
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Dynavax Technologies (NASDAQ: DVAX) and its collaboration partner, Clover Biopharmaceuticals, can be bought via online brokers. If you want to invest in these stocks, all you need to do is to choose a brokerage platform that provides access to Nasdaq stocks and create an account. Our top picks are:
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What Is Dynavax Technologies?
Dynavax Technologies specialises in developing vaccines by using innovative technologies. One example is the HEPLISAV-B, a vaccine for Hepatitis B, which is also the main revenue source for the company.
Should I Buy Dynavax Technologies Today?
Dynavax Technologies partnered with Clover Biopharmaceuticals to develop a more effective COVID-19 vaccine. Yesterday, DVAX reported that their protein-based vaccine candidate, known as SCB-2019, was proved effective following a clinical trial that included more than 30,000 participants. The new vaccine has 100% efficacy against severe COVID-19 cases and 84% efficacy against moderate-to-severe cases caused by any strain.
Given the increasing concerns over the new variants, including Delta, investors embraced the news with optimism. The share price surged following this news; yet, it may be a long way until the vaccine is ready for administration at a global level.
Dynavax Technologies Price Prediction 2021
Currently trading at $18.79, analysts expect the stock to reach a high target price of $23 in the next 12 months. The bearish scenario shows a minimum of $18.
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