Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Receives $35.71 Average Target Price from Brokerages

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) has been given an average recommendation of “Moderate Buy” by the eight research firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $35.71.

Several equities research analysts have recently weighed in on DAWN shares. Needham & Company LLC increased their price objective on Day One Biopharmaceuticals from $32.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 target price on shares of Day One Biopharmaceuticals in a research report on Thursday, August 1st. Bank of America raised shares of Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and boosted their price target for the company from $11.00 to $24.00 in a report on Thursday, August 1st. Piper Sandler reaffirmed an “overweight” rating and set a $40.00 price objective on shares of Day One Biopharmaceuticals in a report on Monday, July 8th. Finally, Wedbush reissued an “outperform” rating and issued a $33.00 target price on shares of Day One Biopharmaceuticals in a research note on Thursday, July 25th.

Day One Biopharmaceuticals Stock Up 2.6 %

Shares of DAWN opened at $13.88 on Wednesday. Day One Biopharmaceuticals has a 12 month low of $9.67 and a 12 month high of $18.07. The company’s fifty day moving average is $13.88 and its 200-day moving average is $14.43. The firm has a market cap of $1.22 billion, a price-to-earnings ratio of -7.12 and a beta of -1.51.

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

Insider Activity

In other news, insider Samuel C. Blackman sold 20,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $16.01, for a total value of $320,200.00. Following the completion of the sale, the insider now directly owns 1,121,081 shares in the company, valued at approximately $17,948,506.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, insider Samuel C. Blackman sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $16.01, for a total transaction of $320,200.00. Following the sale, the insider now directly owns 1,121,081 shares of the company’s stock, valued at $17,948,506.81. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Samuel C. Blackman sold 2,232 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 transaction of $31,248.00. Following the completion of the sale, the insider now directly owns 1,127,535 shares of the company’s stock, valued at approximately $15,785,490. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 68,748 shares of company stock worth $1,009,272. Insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several large investors have recently made changes to their positions in the company. Quintet Private Bank Europe S.A. grew its holdings in Day One Biopharmaceuticals by 43.2% during the 4th quarter. Quintet Private Bank Europe S.A. now owns 3,313 shares of the company’s stock worth $48,000 after acquiring an additional 1,000 shares during the period. SG Americas Securities LLC bought a new stake in Day One Biopharmaceuticals in the second quarter valued at about $113,000. Point72 DIFC Ltd acquired a new position in Day One Biopharmaceuticals in the second quarter valued at about $124,000. Hsbc Holdings PLC bought a new position in Day One Biopharmaceuticals during the second quarter worth about $163,000. Finally, SteelPeak Wealth LLC acquired a new position in shares of Day One Biopharmaceuticals during the 2nd quarter worth about $218,000. 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.