Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) have been given an average rating of “Moderate Buy” by the eight ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $35.71.

DAWN has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price on shares of Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Piper Sandler reissued an “overweight” rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a research note on Monday, July 8th. Wedbush reissued an “outperform” rating and set a $33.00 target price on shares of Day One Biopharmaceuticals in a research note on Thursday, July 25th. HC Wainwright reissued a “buy” rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a research note on Thursday, August 1st. Finally, Bank of America raised shares of Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and lifted their target price for the company from $11.00 to $24.00 in a research note on Thursday, August 1st.

Day One Biopharmaceuticals Stock Performance

Day One Biopharmaceuticals stock opened at $14.13 on Friday. The company has a 50 day moving average price of $14.35 and a 200 day moving average price of $14.64. Day One Biopharmaceuticals has a 52 week low of $9.67 and a 52 week high of $18.07. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of -5.63 and a beta of -1.51.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings data on Tuesday, July 30th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.70. The firm had revenue of $8.19 million during the quarter, compared to analyst estimates of $0.90 million. Equities analysts forecast that Day One Biopharmaceuticals will post -1.68 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 20,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $16.01, for a total value of $320,200.00. Following the sale, the insider now directly owns 1,121,081 shares in the company, valued at approximately $17,948,506.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Saira Ramasastry sold 10,000 shares of Day One Biopharmaceuticals stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $13.19, for a total transaction of $131,900.00. Following the sale, the director now directly owns 40,485 shares in the company, valued at approximately $533,997.15. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Samuel C. Blackman sold 20,000 shares of Day One Biopharmaceuticals stock in a transaction dated 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 owns 1,121,081 shares in the company, valued at $17,948,506.81. The disclosure for this sale can be found here. Insiders have sold 78,748 shares of company stock worth $1,141,172 in the last ninety days. Insiders own 8.40% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

Institutional investors have recently made changes to their positions in the business. Quest Partners LLC acquired a new stake in shares of Day One Biopharmaceuticals during the 4th quarter valued at about $29,000. Quintet Private Bank Europe S.A. boosted its position in Day One Biopharmaceuticals by 43.2% in the fourth quarter. Quintet Private Bank Europe S.A. now owns 3,313 shares of the company’s stock valued at $48,000 after buying an additional 1,000 shares in the last quarter. SG Americas Securities LLC acquired a new position 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. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Day One Biopharmaceuticals in the fourth quarter valued at about $156,000. 87.95% of the stock is currently owned by institutional investors and hedge funds.

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.