Day One Biopharmaceuticals (NASDAQ:DAWN) Price Target Cut to $27.00 by Analysts at The Goldman Sachs Group

Day One Biopharmaceuticals (NASDAQ:DAWN) had its price objective trimmed by The Goldman Sachs Group from $39.00 to $27.00 in a research note published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other brokerages have also issued reports on DAWN. JPMorgan Chase & Co. dropped their price objective on Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Needham & Company LLC restated a “buy” rating and set a $32.00 price target on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. 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 note on Wednesday, February 26th. Wedbush reissued an “outperform” rating and issued a $32.00 price objective on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. Finally, Bank of America cut their target price on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $32.29.

Day One Biopharmaceuticals Stock Down 0.4 %

DAWN stock opened at $8.28 on Tuesday. The business has a 50 day moving average price of $10.84 and a 200 day moving average price of $12.72. The stock has a market cap of $839.22 million, a price-to-earnings ratio of -8.04 and a beta of -1.38. Day One Biopharmaceuticals has a fifty-two week low of $7.88 and a fifty-two week high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.34). The firm had revenue of $29.21 million for the quarter, compared to analyst estimates of $27.11 million. As a group, sell-side analysts anticipate that Day One Biopharmaceuticals will post -0.72 EPS for the current year.

Insider Activity

In other news, General Counsel Adam Dubow sold 4,646 shares of the business’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 directly owns 39,602 shares in the company, valued at $473,639.92. The trade was a 10.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeremy Bender sold 12,048 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total transaction of $144,094.08. Following the transaction, the chief executive officer now directly owns 128,015 shares of the company’s stock, valued at $1,531,059.40. This represents a 8.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,064 shares of company stock valued at $251,925. Company insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. GF Fund Management CO. LTD. acquired a new stake in Day One Biopharmaceuticals in the fourth quarter valued at $27,000. R Squared Ltd acquired a new stake in shares of Day One Biopharmaceuticals in the fourth quarter valued at about $31,000. Quest Partners LLC lifted its stake in shares of Day One Biopharmaceuticals by 9,238.6% in the third quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock valued at $108,000 after purchasing an additional 7,668 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Day One Biopharmaceuticals by 911.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,657 shares of the company’s stock worth $135,000 after buying an additional 9,603 shares in the last quarter. Finally, E Fund Management Co. Ltd. acquired a new position in Day One Biopharmaceuticals during the fourth quarter worth about $143,000. 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.