DBV Technologies (NASDAQ:DBVT) Shares Gap Up on Analyst Upgrade

by · The Markets Daily

DBV Technologies S.A. (NASDAQ:DBVT – Get Free Report)’s share price gapped up before the market opened on Friday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The stock had previously closed at $12.90, but opened at $13.55. DBV Technologies shares last traded at $14.00, with a volume of 617,165 shares changing hands.

Other analysts have also issued research reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of DBV Technologies in a report on Tuesday. Zacks Research raised DBV Technologies from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $20.00 price target (up previously from $16.00) on shares of DBV Technologies in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $16.08.

Read Our Latest Stock Analysis on DBV Technologies

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Millennium Management LLC increased its holdings in DBV Technologies by 26.1% in the 3rd quarter. Millennium Management LLC now owns 337,863 shares of the company’s stock worth $3,379,000 after acquiring an additional 69,849 shares in the last quarter. Citadel Advisors LLC purchased a new position in DBV Technologies during the third quarter valued at approximately $220,000. Two Sigma Investments LP bought a new position in shares of DBV Technologies in the third quarter worth approximately $167,000. DLD Asset Management LP purchased a new stake in shares of DBV Technologies in the third quarter worth $250,000. Finally, Artisan Partners Limited Partnership purchased a new stake in shares of DBV Technologies in the third quarter worth $519,000. 71.74% of the stock is owned by hedge funds and other institutional investors.

DBV Technologies Stock Performance

The company’s 50-day moving average price is $13.66 and its 200 day moving average price is $11.01. The stock has a market capitalization of $503.52 million, a P/E ratio of -2.71 and a beta of -0.49.

DBV Technologies Company Profile

(Get Free Report)

DBV Technologies SA, a clinical-stage biopharmaceutical company, engages in the research and development of epicutaneous immunotherapy products. Its product pipeline comprising Viaskin Peanut, an immunotherapy product, which has completed Phase 3 clinical trial for the treatment of peanut allergies; and Viaskin Milk which is in Phase 1/2 clinical trial for the treatment of immunoglobulin E (IgE) mediated or cow’s milk protein allergy and eosinophilic esophagitis.

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