DBV Technologies (NASDAQ:DBVT) Shares Gap Down Following Weak Earnings

DBV Technologies S.A. (NASDAQ:DBVT)’s share price gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $10.65, but opened at $9.35. DBV Technologies shares last traded at $10.5760, with a volume of 274,024 shares trading hands.

The company reported ($0.70) earnings per share for the quarter, missing the consensus estimate of ($0.29) by ($0.41). The company had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $0.58 million. DBV Technologies had a negative net margin of 3,506.53% and a negative return on equity of 119.33%.

Analysts Set New Price Targets

DBVT has been the topic of several research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of DBV Technologies in a report on Thursday, September 10th. Wall Street Zen cut DBV Technologies from a “hold” rating to a “sell” rating in a report on Saturday, July 4th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of DBV Technologies in a research note on Thursday, October 15th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of DBV Technologies in a report on Thursday. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, DBV Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.50.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vivo Capital LLC increased its stake in DBV Technologies by 8.4% during the first quarter. Vivo Capital LLC now owns 2,667,569 shares of the company’s stock worth $55,726,000 after acquiring an additional 205,943 shares during the last quarter. ADAR1 Capital Management LLC purchased a new stake in DBV Technologies during the first quarter valued at approximately $21,159,000. Perceptive Advisors LLC purchased a new stake in DBV Technologies during the first quarter valued at approximately $20,146,000. Atika Capital Management LLC lifted its stake in shares of DBV Technologies by 31.1% in the 1st quarter. Atika Capital Management LLC now owns 271,300 shares of the company’s stock valued at $5,667,000 after purchasing an additional 64,419 shares during the last quarter. Finally, Elmind Capital LP bought a new stake in shares of DBV Technologies in the 1st quarter valued at approximately $5,536,000. Hedge funds and other institutional investors own 71.74% of the company’s stock.

DBV Technologies Trading Up 0.1%

The firm has a market capitalization of $670.36 million, a P/E ratio of -3.03 and a beta of -1.04. The firm has a 50 day moving average price of $11.71 and a 200-day moving average price of $17.00.

About DBV Technologies

DBV Technologies SA (NASDAQ: DBVT) is a clinical-stage biopharmaceutical company focused on developing treatments for food allergies and other immune-mediated conditions. The company’s approach is based on epicutaneous immunotherapy, which is designed to deliver small amounts of an allergen through the skin to help desensitize the immune system.

DBV Technologies’ lead product candidate is Viaskin Peanut, an investigational patch intended to treat peanut allergy, particularly in children.