Day One Biopharmaceuticals’ (DAWN) Buy Rating Reaffirmed at HC Wainwright

Day One Biopharmaceuticals (NASDAQ:DAWN)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a report released on Thursday, Benzinga reports. They presently have a $40.00 target price on the stock. HC Wainwright’s target price suggests a potential upside of 179.52% from the stock’s current price.

DAWN has been the topic of several other reports. Wedbush reissued an “outperform” rating and set a $33.00 price target on shares of Day One Biopharmaceuticals in a research report on Thursday, July 25th. Bank of America raised shares of Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and raised their price target for the company from $11.00 to $24.00 in a report on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $33.00 price objective on shares of Day One Biopharmaceuticals in a research report on Tuesday. Piper Sandler reiterated an “overweight” rating and issued a $40.00 price target on shares of Day One Biopharmaceuticals in a research note on Monday, July 8th. Finally, JPMorgan Chase & Co. raised their price objective on Day One Biopharmaceuticals from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $35.71.

Day One Biopharmaceuticals Trading Down 5.8 %

Shares of DAWN stock opened at $14.31 on Thursday. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of -5.70 and a beta of -1.51. The firm has a 50-day moving average price of $14.00 and a 200 day moving average price of $14.84. Day One Biopharmaceuticals has a twelve month low of $9.67 and a twelve month high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate 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. As a group, research analysts predict that Day One Biopharmaceuticals will post -2.66 earnings per share for the current year.

Insider Buying and Selling at Day One Biopharmaceuticals

In other news, 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 value of $320,200.00. Following the completion of the transaction, the insider now directly owns 1,121,081 shares of the company’s stock, valued at approximately $17,948,506.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Jeremy Bender sold 9,154 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $17.85, for a total transaction of $163,398.90. Following the sale, the chief executive officer now owns 642,602 shares of the company’s stock, valued at $11,470,445.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Samuel C. Blackman sold 20,000 shares of Day One Biopharmaceuticals 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 disclosure for this sale can be found here. Insiders sold a total of 73,300 shares of company stock worth $1,181,765 over the last 90 days. Insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DAWN. Vanguard Group Inc. grew its position in Day One Biopharmaceuticals by 8.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,629,754 shares of the company’s stock valued at $56,807,000 after buying an additional 346,090 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Day One Biopharmaceuticals by 4.2% in the 4th quarter. Franklin Resources Inc. now owns 4,236,795 shares of the company’s stock worth $61,857,000 after acquiring an additional 169,463 shares during the period. Braidwell LP boosted its holdings in shares of Day One Biopharmaceuticals by 13.5% in the fourth quarter. Braidwell LP now owns 4,215,573 shares of the company’s stock valued at $61,547,000 after acquiring an additional 500,000 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Day One Biopharmaceuticals by 28.7% during the fourth 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 during the period. Finally, Janus Henderson Group PLC raised its holdings in Day One Biopharmaceuticals by 19.8% during the first quarter. Janus Henderson Group PLC now owns 2,032,384 shares of the company’s stock worth $33,575,000 after purchasing an additional 336,281 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

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.