Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Given Average Rating of “Buy” by Analysts

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) have been given a consensus recommendation of “Buy” by the nine ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $35.71.

A number of equities analysts have recently weighed in on the company. TD Cowen upgraded Day One Biopharmaceuticals to a “strong-buy” rating in a research note on Monday, November 4th. Bank of America raised Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $11.00 to $24.00 in a research report on Thursday, August 1st. JPMorgan Chase & Co. lowered their target price on Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. HC Wainwright restated a “buy” rating and set a $40.00 price target on shares of Day One Biopharmaceuticals in a research report on Thursday, October 31st. 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 Thursday, October 31st.

Insider Transactions at Day One Biopharmaceuticals

In other news, insider Samuel C. Blackman sold 10,000 shares of Day One Biopharmaceuticals stock in a transaction on Monday, November 11th. The stock was sold at an average price of $16.10, for a total value of $161,000.00. Following the completion of the transaction, the insider now directly owns 1,057,535 shares in the company, valued at approximately $17,026,313.50. The trade was a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold 51,745 shares of company stock worth $775,867 over the last quarter. Corporate insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. lifted its holdings in shares of Day One Biopharmaceuticals by 2.3% in the third quarter. Franklin Resources Inc. now owns 3,869,632 shares of the company’s stock worth $55,336,000 after buying an additional 87,262 shares in the last quarter. Geode Capital Management LLC increased its holdings in Day One Biopharmaceuticals by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,432,697 shares of the company’s stock worth $19,961,000 after acquiring an additional 136,458 shares during the period. Frazier Life Sciences Management L.P. purchased a new stake in Day One Biopharmaceuticals in the 3rd quarter worth approximately $9,607,000. XTX Topco Ltd purchased a new position in shares of Day One Biopharmaceuticals during the 3rd quarter valued at $178,000. Finally, Wellington Management Group LLP increased its holdings in shares of Day One Biopharmaceuticals by 142.1% in the third quarter. Wellington Management Group LLP now owns 721,581 shares of the company’s stock worth $10,052,000 after purchasing an additional 423,543 shares during the period. Institutional investors own 87.95% of the company’s stock.

Day One Biopharmaceuticals Stock Performance

Shares of DAWN opened at $13.72 on Thursday. Day One Biopharmaceuticals has a 52 week low of $11.30 and a 52 week high of $18.07. The stock has a 50 day moving average price of $14.35 and a two-hundred day moving average price of $14.18. The firm has a market capitalization of $1.38 billion, a P/E ratio of -13.32 and a beta of -1.51.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.58. The company had revenue of $93.76 million during the quarter, compared to analysts’ expectations of $15.05 million. During the same period in the previous year, the company posted ($0.54) earnings per share. On average, equities analysts forecast that Day One Biopharmaceuticals will post -0.88 earnings per share for the current year.

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.