Dynavax Technologies Corporation (NASDAQ:DVAX) [Trend Analysis] retains strong position in active trade, as shares scoring -7.87% to $4.10 in an active trade session, while looking at the shares volume, around 2.3 Million shares have changed hands in this session. A shareholder rights firm, Lundin Law PC declared that filing of a class action lawsuit against Dynavax Technologies Corporation (DVAX) concerning possible violations of federal securities laws between March 10, 2014 and November 11, 2016 inclusive.
Investors who purchased or otherwise acquired shares during the Class Period are encouraged to contact the firm in advance of the January 17, 2017 lead plaintiff motion deadline.
According to the Complaint, Dynavax made false and/or misleading statements and/or failed to disclose: that the phase 3 HBV-23 trial for the Company’s lead vaccine product HEPLISAV-B was not designed in accordance with the U.S. Food and Drug Administration’s concerns and issues; that the Company failed to provide sufficient information to the FDA in its Revised Biologics License Application for the drug; that Dynavax’s resources will not be sufficient for the Company to advance the HEPLISAV-B program on its own; and that as a result of the above, the Company’s financial statements and statements about its business, operations, and prospects were false and misleading and/or lacked a reasonable basis. The firm has institutional ownership of 83.50%, while insider ownership included 0.36%. DVAX attains analyst recommendation of 2.30 with week’s performance of -21.15%. Investors looking further ahead will note that the Price to next year’s EPS is 26.80%.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) [Trend Analysis] knocking active thrust in leading trading session, shares a decrease of -6.87% to 26.70 with around 15.02 Million shares have changed hands in this session. Patterson-UTI Energy Inc. (PTEN) along with Seventy Seven Energy Inc. (SVNT.PK) reported that they have entered into a definitive merger contract pursuant to which Patterson-UTI will acquire Seventy Seven Energy in an all-stock transaction.
As per the terms of the transaction, Patterson-UTI will acquire all of the issued and outstanding shares of common stock of Seventy Seven Energy, in exchange for approximately 49.6 million shares of common stock of Patterson-UTI. The aggregate number of shares of Patterson-UTI common stock is subject to downward adjustment if certain in-the-money Seventy Seven Energy warrants are forfeited or exercised on a net-share basis. The stock is going forward its fifty-two week low with 146.05% and lagging behind from its 52-week high price with -9.68%.
Similar, the positive performance for the quarter recorded as 45.05% and for the year was 82.87%, while the YTD performance remained at 78.50%. PTEN has Average True Range for 14 days of 1.23.