Day One Biopharmaceuticals (NASDAQ:DAWN) Given Outperform Rating at Wedbush

Day One Biopharmaceuticals (NASDAQ:DAWN)‘s stock had its “outperform” rating reissued by equities research analysts at Wedbush in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $32.00 price objective on the stock. Wedbush’s price objective suggests a potential upside of 238.98% from the company’s previous close.

DAWN has been the subject of a number of other research reports. HC Wainwright reduced their price objective on Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday. 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. Bank of America cut their price objective on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. TD Cowen raised shares of Day One Biopharmaceuticals to a “strong-buy” rating in a research report on Monday, November 4th. Finally, The Goldman Sachs Group dropped their price target on shares of Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Day One Biopharmaceuticals presently has an average rating of “Buy” and an average target price of $34.86.

Day One Biopharmaceuticals Price Performance

Shares of DAWN opened at $9.44 on Wednesday. The company has a market capitalization of $951.99 million, a price-to-earnings ratio of -9.17 and a beta of -1.46. The business’s 50-day moving average is $12.23 and its 200-day moving average is $13.41. Day One Biopharmaceuticals has a fifty-two week low of $9.43 and a fifty-two week high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released 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 business had revenue of $29.21 million for the quarter, compared to the consensus estimate of $27.11 million. Equities research analysts expect that Day One Biopharmaceuticals will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Day One Biopharmaceuticals

In related news, General Counsel Adam Dubow sold 4,646 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total transaction of $55,566.16. Following the completion of the sale, the general counsel now owns 39,602 shares in the company, valued at $473,639.92. This represents a 10.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Samuel C. Blackman sold 30,000 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $13.31, for a total value of $399,300.00. Following the completion of the transaction, the insider now directly owns 1,034,015 shares in the company, valued at approximately $13,762,739.65. This represents a 2.82 % 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 over the last 90 days. Insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in 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 valued at $51,000 after purchasing an additional 1,002 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Day One Biopharmaceuticals by 87.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 19,203 shares of the company’s stock valued at $267,000 after buying an additional 8,935 shares during the last quarter. SteelPeak Wealth LLC lifted its stake in shares of Day One Biopharmaceuticals by 9.8% in the third quarter. SteelPeak Wealth LLC now owns 17,400 shares of the company’s stock valued at $242,000 after buying an additional 1,550 shares during the period. TimesSquare Capital Management LLC grew its position in Day One Biopharmaceuticals by 8.2% during the third quarter. TimesSquare Capital Management LLC now owns 1,827,695 shares of the company’s stock worth $25,460,000 after buying an additional 139,160 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new position in Day One Biopharmaceuticals during the third quarter valued at about $825,000. 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.