HC Wainwright Has Lowered Expectations for Day One Biopharmaceuticals (NASDAQ:DAWN) Stock Price

Day One Biopharmaceuticals (NASDAQ:DAWN) had its price objective dropped by research analysts at HC Wainwright from $40.00 to $36.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s target price would indicate a potential upside of 204.57% from the stock’s previous close.

Several other analysts have also issued reports on the company. The Goldman Sachs Group reduced their target price on Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Needham & Company LLC reiterated a “buy” rating and set a $33.00 price objective on shares of Day One Biopharmaceuticals in a research note on Monday, January 13th. TD Cowen upgraded shares of Day One Biopharmaceuticals to a “strong-buy” rating in a research report on Monday, November 4th. Finally, Bank of America cut their price target on shares of 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 equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $35.00.

Day One Biopharmaceuticals Stock Performance

DAWN stock opened at $11.82 on Wednesday. The company’s 50-day simple moving average is $12.34 and its 200 day simple moving average is $13.46. Day One Biopharmaceuticals has a 52 week low of $11.13 and a 52 week high of $18.07. The company has a market capitalization of $1.19 billion, a PE ratio of -11.48 and a beta of -1.46.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.34). On average, analysts forecast that Day One Biopharmaceuticals will post -0.72 EPS for the current year.

Insider Transactions at Day One Biopharmaceuticals

In other news, insider Samuel C. Blackman sold 30,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were 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 directly owns 1,034,015 shares in the company, valued at approximately $13,762,739.65. This represents a 2.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeremy Bender sold 12,048 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $144,094.08. Following the sale, the chief executive officer now directly owns 128,015 shares in the company, valued at approximately $1,531,059.40. This trade represents a 8.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,064 shares of company stock valued at $651,225. 8.40% of the stock is currently owned by insiders.

Institutional Trading of Day One Biopharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new stake in Day One Biopharmaceuticals during the 4th quarter worth approximately $27,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Day One Biopharmaceuticals by 15.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,579 shares of the company’s stock worth $958,000 after purchasing an additional 10,386 shares during the period. Squarepoint Ops LLC bought a new stake in shares of Day One Biopharmaceuticals in the fourth quarter worth $380,000. Stonepine Capital Management LLC grew its stake in shares of Day One Biopharmaceuticals by 14.3% in the fourth quarter. Stonepine Capital Management LLC now owns 235,000 shares of the company’s stock worth $2,977,000 after purchasing an additional 29,325 shares during the last quarter. Finally, Tema Etfs LLC acquired a new stake in Day One Biopharmaceuticals in the fourth quarter valued at $1,087,000. 87.95% of the stock is currently owned by institutional investors.

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.