JPMorgan Chase & Co. Has Lowered Expectations for Day One Biopharmaceuticals (NASDAQ:DAWN) Stock Price

Day One Biopharmaceuticals (NASDAQ:DAWN) had its target price reduced by analysts at JPMorgan Chase & Co. from $39.00 to $34.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 264.03% from the company’s current price.

DAWN has been the topic of several other reports. Wedbush reiterated an “outperform” rating and issued a $32.00 target price on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. HC Wainwright dropped 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. Bank of America decreased their price target 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. The Goldman Sachs Group cut 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. Finally, Needham & Company LLC reissued a “buy” rating and issued a $32.00 price target on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $34.57.

Day One Biopharmaceuticals Price Performance

DAWN stock traded up $0.74 during midday trading on Wednesday, reaching $9.34. 589,381 shares of the stock were exchanged, compared to its average volume of 1,153,314. The stock has a market capitalization of $946.66 million, a PE ratio of -9.07 and a beta of -1.46. Day One Biopharmaceuticals has a 52 week low of $8.02 and a 52 week high of $18.07. The company has a fifty day moving average price of $11.99 and a 200 day moving average price of $13.30.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings data 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 analyst estimates of $27.11 million. As a group, analysts anticipate that Day One Biopharmaceuticals will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Samuel C. Blackman sold 30,000 shares of the firm’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 transaction, the insider now owns 1,034,015 shares of the company’s stock, valued at approximately $13,762,739.65. This trade represents a 2.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Charles N. York II sold 4,370 shares of the business’s 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 sale, the chief financial officer now directly owns 252,638 shares of the company’s stock, valued at $3,021,550.48. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,064 shares of company stock worth $651,225 in the last ninety days. Corporate insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Day One Biopharmaceuticals by 38.4% in 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. Virtus ETF Advisers LLC boosted its holdings in Day One Biopharmaceuticals by 7.1% during the fourth quarter. Virtus ETF Advisers LLC now owns 27,296 shares of the company’s stock worth $346,000 after purchasing an additional 1,805 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Day One Biopharmaceuticals by 5.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,843 shares of the company’s stock worth $454,000 after purchasing an additional 1,894 shares in the last quarter. GF Fund Management CO. LTD. purchased a new stake in Day One Biopharmaceuticals in the 4th quarter valued at about $27,000. Finally, China Universal Asset Management Co. Ltd. increased its stake in Day One Biopharmaceuticals by 11.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 21,383 shares of the company’s stock valued at $271,000 after buying an additional 2,180 shares during the last quarter. Institutional investors 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.