Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) has been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $35.71.

A number of equities analysts have recently commented on DAWN shares. Bank of America raised shares of Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and lifted their target price for the company from $11.00 to $24.00 in a report on Thursday, August 1st. HC Wainwright reiterated a “buy” rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a research note on Thursday, August 1st. JPMorgan Chase & Co. lowered their price target on Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Wedbush reaffirmed an “outperform” rating and set a $33.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, July 25th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $33.00 target price on shares of Day One Biopharmaceuticals in a research note on Tuesday, July 30th.

Day One Biopharmaceuticals Stock Up 0.8 %

Shares of DAWN stock opened at $13.69 on Wednesday. The firm has a 50 day moving average of $13.93 and a two-hundred day moving average of $14.46. The stock has a market capitalization of $1.20 billion, a PE ratio of -5.45 and a beta of -1.51. Day One Biopharmaceuticals has a 52 week low of $9.67 and a 52 week high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings results on Tuesday, July 30th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.70. The firm had revenue of $8.19 million for the quarter, compared to analyst estimates of $0.90 million. Analysts expect that Day One Biopharmaceuticals will post -1.68 EPS for the current fiscal year.

Insider Transactions at Day One Biopharmaceuticals

In other news, insider Samuel C. Blackman sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $14.22, for a total value of $426,600.00. Following the completion of the transaction, the insider now owns 1,097,535 shares of the company’s stock, valued at $15,606,947.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Samuel C. Blackman sold 30,000 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $14.22, for a total transaction of $426,600.00. Following the transaction, the insider now directly owns 1,097,535 shares in the company, valued at approximately $15,606,947.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Samuel C. Blackman sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $16.01, for a total value of $320,200.00. Following the completion of the sale, the insider now directly owns 1,121,081 shares in the company, valued at approximately $17,948,506.81. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 68,748 shares of company stock valued at $1,009,272 over the last three months. 8.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the stock. Handelsbanken Fonder AB grew its stake in shares of Day One Biopharmaceuticals by 16.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 27,000 shares of the company’s stock valued at $376,000 after buying an additional 3,900 shares during the period. Point72 DIFC Ltd purchased a new stake in Day One Biopharmaceuticals during the second quarter valued at about $124,000. Point72 Asset Management L.P. acquired a new stake in Day One Biopharmaceuticals during the second quarter worth about $6,480,000. Deerfield Management Company L.P. Series C raised its holdings in shares of Day One Biopharmaceuticals by 65.6% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 2,923,137 shares of the company’s stock worth $40,281,000 after purchasing an additional 1,157,825 shares during the period. Finally, AQR Capital Management LLC raised its holdings in shares of Day One Biopharmaceuticals by 517.0% in the 2nd quarter. AQR Capital Management LLC now owns 113,020 shares of the company’s stock worth $1,557,000 after purchasing an additional 94,703 shares during the period. Institutional investors and hedge funds own 87.95% of the company’s stock.

About Day One Biopharmaceuticals

Day One Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops and commercializes targeted therapies for patients with genomically defined cancers. Its lead product candidate is tovorafenib, an oral brain-penetrant type II pan-rapidly accelerated fibrosarcoma kinase inhibitor that is in Phase II clinical trial for pediatric patients with relapsed/ refractory low-grade glioma.