Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) have earned a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $24.4286.

A number of brokerages recently commented on DAWN. HC Wainwright restated a “buy” rating and issued a $25.00 target price on shares of Day One Biopharmaceuticals in a research note on Monday, November 24th. JPMorgan Chase & Co. increased their price target on Day One Biopharmaceuticals from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Piper Sandler raised their price target on Day One Biopharmaceuticals from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research report on Monday. Finally, Needham & Company LLC restated a “buy” rating and issued a $16.00 price objective on shares of Day One Biopharmaceuticals in a report on Monday, November 24th.

Day One Biopharmaceuticals Stock Up 1.5%

Shares of DAWN stock opened at $9.32 on Friday. The business’s 50 day moving average is $8.74 and its two-hundred day moving average is $7.56. The company has a market cap of $956.98 million, a PE ratio of -6.13 and a beta of -1.27. Day One Biopharmaceuticals has a 12 month low of $5.64 and a 12 month high of $13.53.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its earnings results on Tuesday, November 4th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.09. The firm had revenue of $39.80 million for the quarter, compared to the consensus estimate of $38.20 million. Day One Biopharmaceuticals had a negative net margin of 113.53% and a negative return on equity of 32.05%. The business’s quarterly revenue was down 57.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 EPS. As a group, equities analysts expect that Day One Biopharmaceuticals will post -0.72 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Adam Dubow sold 4,319 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $8.91, for a total transaction of $38,482.29. Following the transaction, the insider directly owned 62,626 shares of the company’s stock, valued at approximately $557,997.66. The trade was a 6.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeremy Bender sold 15,894 shares of Day One Biopharmaceuticals stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $8.91, for a total transaction of $141,615.54. Following the sale, the chief executive officer directly owned 177,165 shares of the company’s stock, valued at $1,578,540.15. The trade was a 8.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 28,001 shares of company stock valued at $249,489. 6.20% of the stock is owned by insiders.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Large investors have recently added to or reduced their stakes in the stock. Deerfield Management Company L.P. lifted its stake in shares of Day One Biopharmaceuticals by 26.4% in the 3rd quarter. Deerfield Management Company L.P. now owns 4,705,413 shares of the company’s stock valued at $33,173,000 after acquiring an additional 982,282 shares during the last quarter. Franklin Resources Inc. grew its stake in Day One Biopharmaceuticals by 2.0% during the second quarter. Franklin Resources Inc. now owns 4,097,625 shares of the company’s stock worth $26,635,000 after purchasing an additional 79,255 shares during the period. Alyeska Investment Group L.P. raised its holdings in shares of Day One Biopharmaceuticals by 61.6% during the first quarter. Alyeska Investment Group L.P. now owns 4,059,764 shares of the company’s stock valued at $32,194,000 after purchasing an additional 1,547,577 shares during the period. Rubric Capital Management LP bought a new position in Day One Biopharmaceuticals in the third quarter worth approximately $23,808,000. Finally, Vestal Point Capital LP grew its position in Day One Biopharmaceuticals by 15.5% in the 2nd quarter. Vestal Point Capital LP now owns 3,000,000 shares of the company’s stock valued at $19,500,000 after purchasing an additional 401,873 shares during the period. Institutional investors and hedge funds own 87.95% of the company’s stock.

Day One Biopharmaceuticals Company Profile

Day One Biopharmaceuticals, Inc (NASDAQ: DAWN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted therapies for oncology. The company employs a precision medicine approach, leveraging biomarker-driven strategies to identify patient populations most likely to respond to its investigational compounds. By concentrating on well-validated molecular drivers of cancer, Day One seeks to deliver first-in-class or best-in-class therapies with the potential for meaningful clinical benefit.

The company’s pipeline includes several small-molecule candidates in various stages of development.