Why Dynavax Stock Crushed It Today
Shares of Dynavax (NASDAQ: DVAX) were skyrocketing 30.2% higher as of 3:47 p.m. EDT on Monday. The biotech didn't report any new developments today. However, the huge gain likely stemmed from last week's momentum, which was the result of positive comments from Dynavax's partner, Sinovac, as well as insider buying by Dynavax's interim chairman of the board, Andrew Hack.
Investors need to be cautious about putting too much focus on the comments last week made by Sinovac researcher Luo Baishan. When asked about the prospects for the COVID-19 vaccine being developed by Sinovac using Dynavax's CpG 1018 adjuvant, Baishan replied that he was 99% sure that the vaccine would be successful. However, Helen Yang, senior director of investor relations at Sinovac, was more measured in her reply to a similar question, stating: "It's very hard to say, very difficult to say at the moment. There are uncertainties, but the data: so far, so good."
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Source Fool.com
