Day One Biopharmaceuticals (NASDAQ:DAWN) Shares Up 12.2% After Analyst Upgrade

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) shot up 12.2% during mid-day trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $32.00 to $36.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Day One Biopharmaceuticals traded as high as $17.39 and last traded at $17.26. 3,653,007 shares traded hands during mid-day trading, an increase of 457% from the average session volume of 656,201 shares. The stock had previously closed at $15.38.

DAWN has been the subject of a number of other research reports. Piper Sandler reiterated an “overweight” rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a report on Tuesday, March 26th. Oppenheimer reiterated a “market perform” rating on shares of Day One Biopharmaceuticals in a report on Tuesday, February 27th. Finally, The Goldman Sachs Group dropped their price objective on shares of Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Day One Biopharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $39.83.

Insider Buying and Selling at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $16.02, for a total transaction of $160,200.00. Following the completion of the sale, the insider now owns 1,174,662 shares of the company’s stock, valued at approximately $18,818,085.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Samuel C. Blackman sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $16.02, for a total transaction of $160,200.00. Following the completion of the sale, the insider now owns 1,174,662 shares of the company’s stock, valued at approximately $18,818,085.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Samuel C. Blackman sold 2,258 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.25, for a total transaction of $34,434.50. Following the sale, the insider now directly owns 1,244,662 shares of the company’s stock, valued at approximately $18,981,095.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,781 shares of company stock valued at $883,160. 8.40% of the stock is currently owned by company insiders.

Institutional Trading of Day One Biopharmaceuticals

Several large investors have recently modified their holdings of DAWN. First Turn Management LLC acquired a new stake in shares of Day One Biopharmaceuticals during the 4th quarter worth approximately $24,834,000. TimesSquare Capital Management LLC lifted its holdings in shares of Day One Biopharmaceuticals by 45.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,666,065 shares of the company’s stock worth $24,325,000 after purchasing an additional 523,455 shares in the last quarter. Braidwell LP lifted its holdings in shares of Day One Biopharmaceuticals by 13.5% in the 4th quarter. Braidwell LP now owns 4,215,573 shares of the company’s stock worth $61,547,000 after purchasing an additional 500,000 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Day One Biopharmaceuticals by 28.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,118,849 shares of the company’s stock worth $30,935,000 after purchasing an additional 472,654 shares in the last quarter. Finally, Superstring Capital Management LP bought a new position in shares of Day One Biopharmaceuticals in the 4th quarter worth $5,543,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

Day One Biopharmaceuticals Stock Performance

The business has a fifty day moving average of $15.27 and a 200-day moving average of $13.78. The company has a market capitalization of $1.45 billion, a P/E ratio of -6.99 and a beta of -1.48.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its earnings results on Monday, February 26th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). Sell-side analysts anticipate that Day One Biopharmaceuticals, Inc. will post -2.66 EPS for the current year.

Day One Biopharmaceuticals Company Profile

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.