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

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) have been assigned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $35.71.

Several brokerages have recently commented on DAWN. JPMorgan Chase & Co. decreased their price objective on shares of Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Wedbush restated an “outperform” rating and set a $33.00 price target on shares of Day One Biopharmaceuticals in a research report on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and issued a $33.00 price objective on shares of Day One Biopharmaceuticals in a report on Tuesday, July 30th. Bank of America upgraded Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and raised their target price for the company from $11.00 to $24.00 in a report on Thursday, August 1st. Finally, HC Wainwright reiterated a “buy” rating and set a $40.00 price target on shares of Day One Biopharmaceuticals in a research note on Thursday, August 1st.

Day One Biopharmaceuticals Stock Up 3.2 %

DAWN stock opened at $14.78 on Friday. Day One Biopharmaceuticals has a 52-week low of $9.67 and a 52-week high of $18.07. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -5.89 and a beta of -1.51. The business has a fifty day moving average of $14.27 and a two-hundred day moving average of $14.55.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings data on Tuesday, July 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.70. The business had revenue of $8.19 million for the quarter, compared to analyst estimates of $0.90 million. As a group, sell-side analysts anticipate that Day One Biopharmaceuticals will post -1.68 EPS for the current year.

Insider Activity

In related news, CEO Jeremy Bender sold 10,681 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $14.00, for a total value of $149,534.00. Following the sale, the chief executive officer now owns 98,932 shares of the company’s stock, valued at $1,385,048. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, General Counsel Adam Dubow sold 3,202 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $14.00, for a total transaction of $44,828.00. Following the completion of the transaction, the general counsel now directly owns 26,928 shares of the company’s stock, valued at approximately $376,992. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeremy Bender sold 10,681 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $14.00, for a total value of $149,534.00. Following the sale, the chief executive officer now owns 98,932 shares of the company’s stock, valued at approximately $1,385,048. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,748 shares of company stock worth $1,009,272. 8.40% of the stock is currently owned by company insiders.

Institutional Trading of Day One Biopharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAWN. Deerfield Management Company L.P. Series C boosted its holdings in shares of Day One Biopharmaceuticals by 65.6% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 2,923,137 shares of the company’s stock valued at $40,281,000 after buying an additional 1,157,825 shares in the last quarter. Estuary Capital Management LP boosted its stake in Day One Biopharmaceuticals by 82.5% in the first quarter. Estuary Capital Management LP now owns 1,611,137 shares of the company’s stock valued at $26,616,000 after acquiring an additional 728,240 shares in the last quarter. Ally Bridge Group NY LLC purchased a new position in shares of Day One Biopharmaceuticals during the second quarter worth about $7,387,000. Braidwell LP increased its position in shares of Day One Biopharmaceuticals by 13.5% during the fourth quarter. Braidwell LP now owns 4,215,573 shares of the company’s stock worth $61,547,000 after purchasing an additional 500,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Day One Biopharmaceuticals by 28.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,118,849 shares of the company’s stock valued at $30,935,000 after purchasing an additional 472,654 shares during the last quarter. Institutional investors and hedge funds 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.