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

HC Wainwright reaffirmed their buy rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a report published on Thursday, Benzinga reports. HC Wainwright currently has a $40.00 target price on the stock.

A number of other brokerages have also issued reports on DAWN. Piper Sandler restated an “overweight” rating and issued a $40.00 target price on shares of Day One Biopharmaceuticals in a research note on Monday, July 8th. Wedbush reaffirmed an “outperform” rating and set a $33.00 target price on shares of Day One Biopharmaceuticals in a report on Thursday, July 25th. JPMorgan Chase & Co. cut their price target on Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Bank of America upgraded shares of Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $11.00 to $24.00 in a research report on Thursday, August 1st. Finally, Needham & Company LLC raised their price target on Day One Biopharmaceuticals from $32.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Day One Biopharmaceuticals has an average rating of “Moderate Buy” and an average target price of $35.71.

Day One Biopharmaceuticals Stock Down 0.9 %

Shares of NASDAQ DAWN traded down $0.13 during midday trading on Thursday, hitting $14.59. The company had a trading volume of 401,067 shares, compared to its average volume of 933,404. Day One Biopharmaceuticals has a twelve month low of $10.90 and a twelve month high of $18.07. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of -14.29 and a beta of -1.51. The business has a 50-day simple moving average of $14.18 and a two-hundred day simple moving average of $14.39.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.58. The company had revenue of $93.76 million for the quarter, compared to analysts’ expectations of $15.05 million. During the same period in the prior year, the business earned ($0.54) EPS. On average, equities analysts forecast that Day One Biopharmaceuticals will post -1.65 EPS for the current year.

Insider Activity

In other news, insider Samuel C. Blackman sold 30,000 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $14.22, for a total transaction of $426,600.00. Following the transaction, the insider now owns 1,097,535 shares in the company, valued at approximately $15,606,947.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Jeremy Bender sold 10,681 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $14.00, for a total value of $149,534.00. Following the completion of the transaction, the chief executive officer now directly owns 98,932 shares of the company’s stock, valued at $1,385,048. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Samuel C. Blackman sold 30,000 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $14.22, for a total transaction of $426,600.00. Following the sale, the insider now owns 1,097,535 shares of the company’s stock, valued at approximately $15,606,947.70. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 48,748 shares of company stock worth $689,072. 8.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Deerfield Management Company L.P. Series C raised its stake in shares of Day One Biopharmaceuticals by 65.6% in the second quarter. Deerfield Management Company L.P. Series C now owns 2,923,137 shares of the company’s stock worth $40,281,000 after buying an additional 1,157,825 shares during the period. Estuary Capital Management LP grew its stake in Day One Biopharmaceuticals by 82.5% in the 1st quarter. Estuary Capital Management LP now owns 1,611,137 shares of the company’s stock worth $26,616,000 after acquiring an additional 728,240 shares in the last quarter. Ally Bridge Group NY LLC purchased a new position in shares of Day One Biopharmaceuticals during the second quarter valued at $7,387,000. Point72 Asset Management L.P. purchased a new stake in shares of Day One Biopharmaceuticals in the 2nd quarter worth approximately $6,480,000. Finally, Janus Henderson Group PLC lifted its position in shares of 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 valued at $33,575,000 after buying an additional 336,281 shares during the last quarter. 87.95% of the stock is currently owned by 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.