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

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

Several research firms recently weighed in on DAWN. TD Cowen raised Day One Biopharmaceuticals to a “strong-buy” rating in a research report on Monday, November 4th. Needham & Company LLC restated a “buy” rating and issued a $33.00 target price on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $40.00 target price on shares of Day One Biopharmaceuticals in a research report on Thursday, October 31st.

Day One Biopharmaceuticals Trading Up 1.5 %

NASDAQ:DAWN opened at $13.80 on Thursday. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of -13.40 and a beta of -1.51. Day One Biopharmaceuticals has a 1-year low of $11.51 and a 1-year high of $18.07. The business’s fifty day moving average price is $14.30 and its 200 day moving average price is $14.10.

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, beating the consensus estimate of ($0.20) by $0.58. The business had revenue of $93.76 million for the quarter, compared to analyst estimates of $15.05 million. During the same period in the previous year, the firm posted ($0.54) earnings per share. Equities analysts forecast that Day One Biopharmaceuticals will post -0.88 earnings per share for the current year.

Insider Activity

In other news, insider Samuel C. Blackman sold 11,245 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $16.03, for a total transaction of $180,257.35. Following the transaction, the insider now owns 1,085,790 shares of the company’s stock, valued at approximately $17,405,213.70. This represents a 1.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In the last quarter, insiders have sold 51,745 shares of company stock valued at $775,867. Insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. increased its holdings in shares of Day One Biopharmaceuticals by 2.3% during the 3rd quarter. Franklin Resources Inc. now owns 3,869,632 shares of the company’s stock valued at $55,336,000 after acquiring an additional 87,262 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Day One Biopharmaceuticals by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,432,697 shares of the company’s stock valued at $19,961,000 after acquiring an additional 136,458 shares during the last quarter. Frazier Life Sciences Management L.P. acquired a new stake in Day One Biopharmaceuticals in the 3rd quarter valued at approximately $9,607,000. XTX Topco Ltd acquired a new stake in Day One Biopharmaceuticals in the 3rd quarter valued at approximately $178,000. Finally, Wellington Management Group LLP grew its holdings in Day One Biopharmaceuticals by 142.1% in the 3rd quarter. Wellington Management Group LLP now owns 721,581 shares of the company’s stock valued at $10,052,000 after buying an additional 423,543 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

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.