Day One Biopharmaceuticals (NASDAQ:DAWN) Stock Rating Upgraded by TD Cowen

Day One Biopharmaceuticals (NASDAQ:DAWN) was upgraded by equities researchers at TD Cowen to a “strong-buy” rating in a research note issued to investors on Monday, Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Piper Sandler reissued an “overweight” rating and issued a $40.00 price target on shares of Day One Biopharmaceuticals in a research note on Monday, July 8th. Wedbush reissued an “outperform” rating and issued a $33.00 target price on shares of Day One Biopharmaceuticals in a research report on Thursday, July 25th. JPMorgan Chase & Co. lowered their price target on Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. Finally, Bank of America raised Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and increased their target price for the stock from $11.00 to $24.00 in a research note on Thursday, August 1st. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Day One Biopharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $35.71.

Day One Biopharmaceuticals Stock Up 2.3 %

DAWN stock opened at $15.15 on Monday. Day One Biopharmaceuticals has a 52-week low of $10.90 and a 52-week high of $18.07. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of -14.71 and a beta of -1.51. The business has a fifty day moving average of $14.20 and a two-hundred day moving average of $14.38.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.58. The business had revenue of $93.76 million for the quarter, compared to analysts’ expectations of $15.05 million. During the same quarter in the prior year, the company posted ($0.54) earnings per share. As a group, sell-side analysts anticipate that Day One Biopharmaceuticals will post -1.22 EPS for the current year.

Insider Activity at Day One Biopharmaceuticals

In related news, insider Samuel C. Blackman sold 30,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $14.22, for a total transaction of $426,600.00. Following the completion of the transaction, the insider now directly 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Day One Biopharmaceuticals news, CFO Charles N. York II sold 2,633 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $14.00, for a total value of $36,862.00. Following the sale, the chief financial officer now directly owns 232,485 shares of the company’s stock, valued at approximately $3,254,790. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Samuel C. Blackman sold 30,000 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $14.22, for a total transaction of $426,600.00. Following the sale, the insider now directly owns 1,097,535 shares of the company’s stock, valued at approximately $15,606,947.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,248 shares of company stock worth $697,082. Company insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several large investors have recently bought and sold shares of DAWN. Janus Henderson Group PLC boosted its position in shares of Day One Biopharmaceuticals by 19.8% during the 1st quarter. Janus Henderson Group PLC now owns 2,032,384 shares of the company’s stock worth $33,575,000 after acquiring an additional 336,281 shares in the last quarter. AQR Capital Management LLC lifted its stake in Day One Biopharmaceuticals by 517.0% during the second 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 last quarter. ProShare Advisors LLC boosted its holdings in Day One Biopharmaceuticals by 9.1% in the first quarter. ProShare Advisors LLC now owns 17,379 shares of the company’s stock valued at $287,000 after purchasing an additional 1,447 shares in the last quarter. Deerfield Management Company L.P. Series C increased its stake in Day One Biopharmaceuticals by 65.6% in the second quarter. Deerfield Management Company L.P. Series C now owns 2,923,137 shares of the company’s stock valued at $40,281,000 after purchasing an additional 1,157,825 shares during the last quarter. Finally, Essex Investment Management Co. LLC purchased a new position in Day One Biopharmaceuticals in the third quarter valued at approximately $2,566,000. Hedge funds and other institutional investors 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.