Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Receives Average Rating of “Buy” from Analysts

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) have earned an average recommendation of “Buy” from the nine research firms that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have covered the stock in the last year is $35.71.

A number of analysts have recently issued reports on DAWN shares. JPMorgan Chase & Co. cut their price objective on Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. Wedbush reissued an “outperform” rating and issued a $33.00 price target on shares of Day One Biopharmaceuticals in a report on Thursday, July 25th. Needham & Company LLC restated a “buy” rating and set a $33.00 price objective on shares of Day One Biopharmaceuticals in a research report on Thursday, October 31st. TD Cowen raised Day One Biopharmaceuticals to a “strong-buy” rating in a research report on Monday, November 4th. Finally, HC Wainwright reissued a “buy” rating and set a $40.00 price target on shares of Day One Biopharmaceuticals in a report on Thursday, October 31st.

Day One Biopharmaceuticals Trading Up 4.0 %

NASDAQ DAWN opened at $16.39 on Friday. The firm’s fifty day moving average price is $14.34 and its two-hundred day moving average price is $14.39. Day One Biopharmaceuticals has a 1 year low of $10.90 and a 1 year high of $18.07. The firm has a market capitalization of $1.65 billion, a P/E ratio of -15.91 and a beta of -1.51.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.58. The firm had revenue of $93.76 million during the quarter, compared to the consensus estimate of $15.05 million. During the same period in the previous year, the company posted ($0.54) earnings per share. On average, research analysts anticipate that Day One Biopharmaceuticals will post -0.97 EPS for the current fiscal year.

Insider Activity

In related news, insider Samuel C. Blackman sold 11,245 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $16.03, for a total value of $180,257.35. Following the transaction, the insider now owns 1,085,790 shares in the company, valued at approximately $17,405,213.70. This trade represents 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 this link. In other news, insider Samuel C. Blackman sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $14.22, for a total value of $426,600.00. Following the completion of the transaction, the insider now directly owns 1,097,535 shares in the company, valued at approximately $15,606,947.70. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samuel C. Blackman sold 11,245 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $16.03, for a total transaction of $180,257.35. Following the sale, the insider now owns 1,085,790 shares in the company, valued at $17,405,213.70. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 60,493 shares of company stock worth $877,339. 8.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in DAWN. Janus Henderson Group PLC raised its holdings in shares of Day One Biopharmaceuticals by 19.8% during the 1st quarter. Janus Henderson Group PLC now owns 2,032,384 shares of the company’s stock worth $33,575,000 after buying an additional 336,281 shares in the last quarter. AQR Capital Management LLC grew its position in Day One Biopharmaceuticals by 517.0% in the second quarter. AQR Capital Management LLC now owns 113,020 shares of the company’s stock valued at $1,557,000 after acquiring an additional 94,703 shares during the last quarter. ProShare Advisors LLC raised its stake in Day One Biopharmaceuticals by 9.1% during the first quarter. ProShare Advisors LLC now owns 17,379 shares of the company’s stock worth $287,000 after acquiring an additional 1,447 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its holdings 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 acquiring an additional 1,157,825 shares during the last quarter. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of Day One Biopharmaceuticals in the 3rd quarter valued at approximately $2,566,000. 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.