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

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) has earned an average rating of “Buy” from the nine research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation, seven have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $35.71.

Several research firms recently issued reports on DAWN. Needham & Company LLC reissued a “buy” rating and set a $33.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. TD Cowen upgraded Day One Biopharmaceuticals to a “strong-buy” rating in a research report on Monday, November 4th. Finally, HC Wainwright reissued a “buy” rating and set a $40.00 price objective on shares of Day One Biopharmaceuticals in a report on Thursday, October 31st.

Day One Biopharmaceuticals Trading Up 2.6 %

DAWN stock opened at $12.79 on Monday. The firm has a 50 day moving average of $14.07 and a 200-day moving average of $14.02. The firm has a market capitalization of $1.29 billion, a P/E ratio of -12.42 and a beta of -1.51. Day One Biopharmaceuticals has a 12 month low of $11.94 and a 12 month high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of ($0.20) by $0.58. The firm 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 business earned ($0.54) earnings per share. Sell-side analysts predict that Day One Biopharmaceuticals will post -0.88 EPS for the current year.

Insider Activity

In other news, insider Samuel C. Blackman sold 10,000 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $16.10, for a total value of $161,000.00. Following the completion of the sale, the insider now owns 1,057,535 shares of the company’s stock, valued at approximately $17,026,313.50. This represents a 0.94 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 51,745 shares of company stock worth $748,567. 8.40% of the stock is currently owned by insiders.

Institutional Trading of Day One Biopharmaceuticals

Hedge funds have recently added to or reduced their stakes in the business. First Turn Management LLC purchased a new position in Day One Biopharmaceuticals in the 3rd quarter worth approximately $13,204,000. GSA Capital Partners LLP bought a new position in shares of Day One Biopharmaceuticals in the third quarter worth approximately $825,000. Algert Global LLC increased its stake in shares of Day One Biopharmaceuticals by 248.8% in the third quarter. Algert Global LLC now owns 71,487 shares of the company’s stock worth $996,000 after buying an additional 50,990 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Day One Biopharmaceuticals by 14.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 507,448 shares of the company’s stock valued at $7,069,000 after buying an additional 64,700 shares during the last quarter. Finally, Vestal Point Capital LP boosted its position in Day One Biopharmaceuticals by 100.0% during the 3rd quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company’s stock valued at $34,825,000 after buying an additional 1,250,000 shares during the period. 87.95% of the stock is owned by 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.