Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Receives Average Recommendation of “Buy” from Brokerages

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) has earned a consensus recommendation of “Buy” from the eight brokerages that are presently covering the company, MarketBeat reports. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $34.57.

DAWN has been the subject of several research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $32.00 price target on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. The Goldman Sachs Group decreased their price target 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. Wedbush reaffirmed an “outperform” rating and issued a $32.00 price target on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. HC Wainwright decreased their price target on shares of Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday.

Insider Buying and Selling at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 30,000 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $13.31, for a total transaction of $399,300.00. Following the sale, the insider now directly owns 1,034,015 shares in the company, valued at approximately $13,762,739.65. The trade was a 2.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Adam Dubow sold 4,646 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total transaction of $55,566.16. Following the sale, the general counsel now owns 39,602 shares in the company, valued at $473,639.92. This trade represents a 10.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,064 shares of company stock valued at $651,225 in the last ninety days. Company insiders own 8.40% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in DAWN. FMR LLC raised its position in shares of Day One Biopharmaceuticals by 73.9% during the 4th quarter. FMR LLC now owns 12,887,467 shares of the company’s stock worth $163,284,000 after buying an additional 5,475,087 shares in the last quarter. Alyeska Investment Group L.P. bought a new stake in shares of Day One Biopharmaceuticals during the 4th quarter worth about $31,829,000. Braidwell LP raised its position in shares of Day One Biopharmaceuticals by 60.5% during the 3rd quarter. Braidwell LP now owns 4,873,853 shares of the company’s stock worth $67,893,000 after buying an additional 1,837,949 shares in the last quarter. Vestal Point Capital LP raised its holdings in shares of Day One Biopharmaceuticals by 100.0% in the 3rd quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company’s stock worth $34,825,000 after purchasing an additional 1,250,000 shares in the last quarter. Finally, Boxer Capital Management LLC bought a new stake in shares of Day One Biopharmaceuticals in the 4th quarter worth approximately $15,077,000. 87.95% of the stock is currently owned by institutional investors.

Day One Biopharmaceuticals Price Performance

Shares of DAWN stock opened at $8.67 on Friday. The firm has a market cap of $878.75 million, a P/E ratio of -8.42 and a beta of -1.38. Day One Biopharmaceuticals has a 1-year low of $8.02 and a 1-year high of $18.07. The firm has a fifty day moving average of $11.85 and a two-hundred day moving average of $13.24.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.34). The business had revenue of $29.21 million for the quarter, compared to the consensus estimate of $27.11 million. On average, sell-side analysts expect that Day One Biopharmaceuticals will post -0.72 EPS for the current year.

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.