JPMorgan Chase & Co. Lowers Day One Biopharmaceuticals (NASDAQ:DAWN) Price Target to $34.00

Day One Biopharmaceuticals (NASDAQ:DAWN) had its target price cut by equities researchers at JPMorgan Chase & Co. from $39.00 to $34.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 273.63% from the stock’s current price.

DAWN has been the topic of a number of other reports. HC Wainwright dropped their target price on Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Wedbush reaffirmed an “outperform” rating and set a $32.00 target price on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. The Goldman Sachs Group dropped their target price on Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating on the stock in a research report on Monday, February 10th. Needham & Company LLC reissued a “buy” rating and issued a $32.00 price objective on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. Finally, Bank of America lowered their price objective on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Day One Biopharmaceuticals presently has an average rating of “Buy” and a consensus target price of $34.57.

Day One Biopharmaceuticals Price Performance

NASDAQ:DAWN opened at $9.10 on Wednesday. The business’s 50-day moving average is $11.85 and its two-hundred day moving average is $13.24. Day One Biopharmaceuticals has a 12 month low of $8.02 and a 12 month high of $18.07. The firm has a market capitalization of $922.33 million, a PE ratio of -8.83 and a beta of -1.38.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings data 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 the consensus estimate of $27.11 million. Equities analysts anticipate that Day One Biopharmaceuticals will post -0.72 EPS for the current year.

Insider Buying and Selling at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, CFO Charles N. York II sold 4,370 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total value of $52,265.20. Following the completion of the transaction, the chief financial officer now directly owns 252,638 shares in the company, valued at $3,021,550.48. The trade was a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing 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 that occurred on Tuesday, December 10th. The shares were sold at an average price of $13.31, for a total value of $399,300.00. Following the completion of the transaction, the insider now owns 1,034,015 shares of the company’s stock, valued at approximately $13,762,739.65. The trade was a 2.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,064 shares of company stock worth $651,225 over the last ninety days. Company insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. GF Fund Management CO. LTD. acquired a new position in shares of Day One Biopharmaceuticals during the fourth quarter worth approximately $27,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Day One Biopharmaceuticals by 15.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,579 shares of the company’s stock worth $958,000 after buying an additional 10,386 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Day One Biopharmaceuticals during the fourth quarter worth approximately $380,000. Stonepine Capital Management LLC boosted its position in shares of Day One Biopharmaceuticals by 14.3% during the fourth quarter. Stonepine Capital Management LLC now owns 235,000 shares of the company’s stock worth $2,977,000 after buying an additional 29,325 shares during the period. Finally, Tema Etfs LLC acquired a new position in shares of Day One Biopharmaceuticals during the fourth quarter worth approximately $1,087,000. 87.95% of the stock is currently owned by institutional investors and hedge funds.

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.