Day One Biopharmaceuticals (NASDAQ:DAWN) Shares Gap Up – Still a Buy?

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) shares gapped up before the market opened on Wednesday . The stock had previously closed at $8.60, but opened at $9.10. Day One Biopharmaceuticals shares last traded at $9.32, with a volume of 379,562 shares traded.

Analyst Upgrades and Downgrades

DAWN has been the subject of several recent research reports. Bank of America lowered their target price on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price objective on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. HC Wainwright cut 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, February 26th. The Goldman Sachs Group decreased their target price on Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Finally, Wedbush reiterated an “outperform” rating and set a $32.00 price target on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $34.57.

Day One Biopharmaceuticals Stock Up 6.2 %

The company has a 50-day moving average price of $11.99 and a 200-day moving average price of $13.30. The firm has a market capitalization of $925.57 million, a price-to-earnings ratio of -8.85 and a beta of -1.46.

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

Insider Buying and Selling

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 value 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Adam Dubow sold 4,646 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total transaction of $55,566.16. Following the transaction, the general counsel now owns 39,602 shares of the company’s stock, valued at approximately $473,639.92. This trade represents a 10.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,064 shares of company stock valued at $651,225 over the last quarter. Corporate insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. boosted 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 worth $51,000 after acquiring an additional 1,002 shares in the last quarter. TimesSquare Capital Management LLC raised its stake in Day One Biopharmaceuticals by 8.2% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,827,695 shares of the company’s stock valued at $25,460,000 after purchasing an additional 139,160 shares during the period. GSA Capital Partners LLP acquired a new position in shares of Day One Biopharmaceuticals in the 3rd quarter valued at about $825,000. Quest Partners LLC boosted its holdings in shares of Day One Biopharmaceuticals by 9,238.6% during the third quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock worth $108,000 after purchasing an additional 7,668 shares during the period. Finally, First Turn Management LLC acquired a new stake in shares of Day One Biopharmaceuticals during the third quarter worth approximately $13,204,000. 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.