Day One Biopharmaceuticals (NASDAQ:DAWN) Stock Rating Reaffirmed by Wedbush

Wedbush restated their outperform rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a research note issued to investors on Thursday morning, RTT News reports. They currently have a $33.00 price objective on the stock.

A number of other analysts have also recently issued reports on DAWN. Piper Sandler reiterated an overweight rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a report on Monday, July 8th. Needham & Company LLC restated a buy rating and issued a $33.00 price target on shares of Day One Biopharmaceuticals in a report on Wednesday, June 19th. JPMorgan Chase & Co. upped their price target on Day One Biopharmaceuticals from $32.00 to $36.00 and gave the stock an overweight rating in a report on Monday, April 22nd. Finally, HC Wainwright restated a buy rating and issued a $40.00 price target on shares of Day One Biopharmaceuticals in a report on Thursday, June 20th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Day One Biopharmaceuticals currently has a consensus rating of Moderate Buy and an average price target of $37.67.

Day One Biopharmaceuticals Stock Performance

Shares of NASDAQ:DAWN opened at $16.03 on Thursday. Day One Biopharmaceuticals has a 1 year low of $9.67 and a 1 year high of $18.07. The stock has a market capitalization of $1.40 billion, a P/E ratio of -6.39 and a beta of -1.51. The stock has a 50-day simple moving average of $14.01 and a 200-day simple moving average of $14.82.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its earnings results on Monday, May 6th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.05). Analysts predict that Day One Biopharmaceuticals will post -2.69 earnings per share for the current year.

Insider Buying and Selling at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, Director Saira Ramasastry sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $13.19, for a total value of $131,900.00. Following the transaction, the director now directly owns 40,485 shares of the company’s stock, valued at approximately $533,997.15. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Saira Ramasastry sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was 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 of the company’s stock, valued at approximately $533,997.15. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Samuel C. Blackman sold 2,267 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $16.08, for a total value of $36,453.36. Following the sale, the insider now directly owns 1,171,081 shares in the company, valued at $18,830,982.48. The disclosure for this sale can be found here. Insiders have sold a total of 195,534 shares of company stock valued at $3,367,830 in the last three months. Corporate insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Day One Biopharmaceuticals by 8.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,629,754 shares of the company’s stock valued at $56,807,000 after acquiring an additional 346,090 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Day One Biopharmaceuticals by 28.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,118,849 shares of the company’s stock valued at $30,935,000 after acquiring an additional 472,654 shares in the last quarter. Parkman Healthcare Partners LLC increased its position in Day One Biopharmaceuticals by 34.2% in the fourth quarter. Parkman Healthcare Partners LLC now owns 625,749 shares of the company’s stock worth $9,136,000 after buying an additional 159,341 shares during the period. Braidwell LP increased its position in Day One Biopharmaceuticals by 13.5% in the fourth quarter. Braidwell LP now owns 4,215,573 shares of the company’s stock worth $61,547,000 after buying an additional 500,000 shares during the period. Finally, New York State Common Retirement Fund increased its position in Day One Biopharmaceuticals by 20.5% in the fourth quarter. New York State Common Retirement Fund now owns 78,299 shares of the company’s stock worth $1,143,000 after buying an additional 13,294 shares during the period. 87.95% of the stock is 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.