Day One Biopharmaceuticals’ (DAWN) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $32.00 price target on the stock.

A number of other equities research analysts have also recently issued reports on the stock. HC Wainwright cut their price objective on shares of Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday. The Goldman Sachs Group cut their price target on shares of Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, February 10th. TD Cowen upgraded Day One Biopharmaceuticals to a “strong-buy” rating in a report on Monday, November 4th. Finally, Bank of America dropped their target price on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $34.86.

Day One Biopharmaceuticals Stock Down 16.7 %

Shares of DAWN stock opened at $9.85 on Wednesday. The business has a 50-day moving average price of $12.29 and a two-hundred day moving average price of $13.44. Day One Biopharmaceuticals has a 12-month low of $9.77 and a 12-month high of $18.07. The firm has a market cap of $992.83 million, a P/E ratio of -9.56 and a beta of -1.46.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.34). The company had revenue of $29.21 million during the quarter, compared to the consensus estimate of $27.11 million. As a group, research analysts expect that Day One Biopharmaceuticals will post -0.72 EPS for the current fiscal year.

Insider Transactions at Day One Biopharmaceuticals

In related news, insider Samuel C. Blackman sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $13.31, for a total transaction of $399,300.00. Following the completion of the transaction, the insider now owns 1,034,015 shares in the company, valued at $13,762,739.65. This represents a 2.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeremy Bender sold 12,048 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total value of $144,094.08. Following the completion of the sale, the chief executive officer now directly owns 128,015 shares of the company’s stock, valued at $1,531,059.40. The trade was a 8.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,064 shares of company stock worth $651,225. Company insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DAWN. GF Fund Management CO. LTD. purchased a new stake in shares of Day One Biopharmaceuticals in the 4th quarter worth about $27,000. R Squared Ltd purchased a new stake in Day One Biopharmaceuticals in the fourth quarter worth about $31,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Day One Biopharmaceuticals by 38.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,611 shares of the company’s stock valued at $51,000 after acquiring an additional 1,002 shares in the last quarter. Quest Partners LLC boosted its position in Day One Biopharmaceuticals by 9,238.6% during the 3rd quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock valued at $108,000 after acquiring an additional 7,668 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Day One Biopharmaceuticals by 911.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,657 shares of the company’s stock worth $135,000 after acquiring an additional 9,603 shares during the period. 87.95% of the stock is owned by hedge funds and other institutional investors.

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.