Bank of America Cuts Day One Biopharmaceuticals (NASDAQ:DAWN) Price Target to $25.00

Day One Biopharmaceuticals (NASDAQ:DAWN) had its target price cut by Bank of America from $28.00 to $25.00 in a research report sent to investors on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts also recently issued reports on DAWN. TD Cowen raised Day One Biopharmaceuticals to a “strong-buy” rating in a research note on Monday, November 4th. HC Wainwright restated a “buy” rating and issued a $40.00 target price on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price target on shares of Day One Biopharmaceuticals in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $35.86.

Day One Biopharmaceuticals Price Performance

NASDAQ:DAWN opened at $12.20 on Tuesday. The business’s 50-day simple moving average is $13.49 and its 200-day simple moving average is $13.97. Day One Biopharmaceuticals has a fifty-two week low of $11.94 and a fifty-two week high of $18.07. The stock has a market capitalization of $1.23 billion, a PE ratio of -11.84 and a beta of -1.46.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share 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 the consensus estimate of $15.05 million. During the same period in the previous year, the firm posted ($0.54) EPS. On average, research analysts expect that Day One Biopharmaceuticals will post -0.88 earnings per share for the current year.

Insider Transactions at Day One Biopharmaceuticals

In other news, insider Samuel C. Blackman sold 10,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $16.10, for a total transaction of $161,000.00. Following the transaction, the insider now directly owns 1,057,535 shares in the company, valued at $17,026,313.50. The trade was a 0.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 51,745 shares of company stock worth $748,567 in the last 90 days. Corporate insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of DAWN. Renaissance Technologies LLC acquired a new stake in shares of Day One Biopharmaceuticals in the second quarter valued at approximately $994,000. Hsbc Holdings PLC bought a new stake in Day One Biopharmaceuticals in the 2nd quarter valued at $163,000. Ally Bridge Group NY LLC bought a new position in Day One Biopharmaceuticals during the second quarter worth $7,387,000. Marshall Wace LLP boosted its position in Day One Biopharmaceuticals by 20.1% during the second quarter. Marshall Wace LLP now owns 161,129 shares of the company’s stock worth $2,220,000 after purchasing an additional 26,958 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in shares of Day One Biopharmaceuticals in the second quarter valued at $124,000. Institutional investors own 87.95% of the company’s stock.

Day One Biopharmaceuticals Company Profile

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.