Day One Biopharmaceuticals (NASDAQ:DAWN) Earns “Buy” Rating from Needham & Company LLC

Day One Biopharmaceuticals (NASDAQ:DAWN)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $32.00 target price on the stock. Needham & Company LLC’s target price would indicate a potential upside of 238.98% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. TD Cowen upgraded Day One Biopharmaceuticals to a “strong-buy” rating in a report on Monday, November 4th. Bank of America dropped their price target on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. The Goldman Sachs Group decreased their price objective on shares of Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, HC Wainwright dropped their target price on shares of Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $34.86.

Day One Biopharmaceuticals Stock Down 4.4 %

NASDAQ:DAWN opened at $9.44 on Wednesday. The stock has a market cap of $951.99 million, a price-to-earnings ratio of -9.17 and a beta of -1.46. The company’s 50 day moving average price is $12.23 and its 200-day moving average price is $13.41. Day One Biopharmaceuticals has a 52 week low of $9.43 and a 52 week high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its earnings results on Tuesday, February 25th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.34). The business had revenue of $29.21 million during the quarter, compared to analyst estimates of $27.11 million. As a group, sell-side analysts anticipate that Day One Biopharmaceuticals will post -0.72 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Samuel C. Blackman sold 30,000 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $13.31, for a total value of $399,300.00. Following the transaction, the insider now directly owns 1,034,015 shares of the company’s stock, valued at approximately $13,762,739.65. This trade represents a 2.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeremy Bender sold 12,048 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $144,094.08. Following the sale, the chief executive officer now directly owns 128,015 shares of the company’s stock, valued at $1,531,059.40. This represents a 8.60 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,064 shares of company stock valued at $651,225. 8.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. purchased a new position in Day One Biopharmaceuticals during the fourth quarter valued at approximately $27,000. R Squared Ltd bought a new stake in shares of Day One Biopharmaceuticals during the 4th quarter valued at $31,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Day One Biopharmaceuticals by 38.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,611 shares of the company’s stock valued at $51,000 after buying an additional 1,002 shares in the last quarter. Quest Partners LLC lifted its stake in shares of Day One Biopharmaceuticals by 9,238.6% during the 3rd quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock valued at $108,000 after buying an additional 7,668 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in Day One Biopharmaceuticals by 911.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,657 shares of the company’s stock worth $135,000 after buying an additional 9,603 shares during the period. 87.95% of the stock is owned by hedge funds and other institutional investors.

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.