Day One Biopharmaceuticals (NASDAQ:DAWN) Receives “Buy” Rating from HC Wainwright

Day One Biopharmaceuticals (NASDAQ:DAWN)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research report issued on Thursday, Benzinga reports. They currently have a $40.00 price target on the stock. HC Wainwright’s price objective indicates a potential upside of 198.73% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. The Goldman Sachs Group dropped their price target on shares of Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Wedbush reaffirmed an “outperform” rating and set a $33.00 target price on shares of Day One Biopharmaceuticals in a research report on Tuesday, May 7th. JPMorgan Chase & Co. increased their price target on Day One Biopharmaceuticals from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. Needham & Company LLC restated a “buy” rating and set a $33.00 price objective on shares of Day One Biopharmaceuticals in a research note on Wednesday. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of Day One Biopharmaceuticals in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Day One Biopharmaceuticals presently has a consensus rating of “Moderate Buy” and an average target price of $37.67.

Day One Biopharmaceuticals Price Performance

Shares of DAWN opened at $13.39 on Thursday. Day One Biopharmaceuticals has a 1-year low of $9.67 and a 1-year high of $18.07. The firm has a 50 day simple moving average of $14.72 and a 200-day simple moving average of $14.71. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -5.33 and a beta of -1.53.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings data on Monday, May 6th. The company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.05). On average, equities analysts expect that Day One Biopharmaceuticals will post -2.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Samuel C. Blackman sold 10,000 shares of Day One Biopharmaceuticals stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $16.01, for a total value of $160,100.00. Following the completion of the transaction, the insider now directly owns 1,184,662 shares of the company’s stock, valued at approximately $18,966,438.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 10,000 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $16.01, for a total value of $160,100.00. Following the sale, the insider now directly owns 1,184,662 shares in the company, valued at $18,966,438.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeremy Bender sold 70,051 shares of the business’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $17.88, for a total transaction of $1,252,511.88. Following the transaction, the chief executive officer now directly owns 651,762 shares of the company’s stock, valued at approximately $11,653,504.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 185,534 shares of company stock valued at $3,236,030. Company insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Several large investors have recently made changes to their positions in the company. Janus Henderson Group PLC increased its position in Day One Biopharmaceuticals by 19.8% in the 1st quarter. Janus Henderson Group PLC now owns 2,032,384 shares of the company’s stock valued at $33,575,000 after acquiring an additional 336,281 shares during the period. Bayesian Capital Management LP bought a new stake in shares of Day One Biopharmaceuticals during the first quarter valued at about $221,000. Estuary Capital Management LP grew its position in Day One Biopharmaceuticals by 82.5% in the 1st quarter. Estuary Capital Management LP now owns 1,611,137 shares of the company’s stock valued at $26,616,000 after buying an additional 728,240 shares in the last quarter. Altitude Crest Partners Inc. bought a new stake in shares of Day One Biopharmaceuticals during the 1st quarter worth about $3,230,000. Finally, Summit Rock Advisors LP acquired a new stake in shares of Day One Biopharmaceuticals in the 1st quarter worth approximately $851,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

About Day One Biopharmaceuticals

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.