Day One Biopharmaceuticals (NASDAQ:DAWN) Receives “Outperform” Rating from Wedbush

Wedbush reaffirmed their outperform rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a research report released on Wednesday morning, RTT News reports. Wedbush currently has a $33.00 target price on the stock.

Other equities analysts also recently issued research reports about the company. Oppenheimer reiterated a market perform rating on shares of Day One Biopharmaceuticals in a research note on Tuesday, February 27th. Piper Sandler reiterated an overweight rating and set a $40.00 price target on shares of Day One Biopharmaceuticals in a research note on Tuesday, March 26th. The Goldman Sachs Group cut their price target on Day One Biopharmaceuticals from $50.00 to $44.00 and set a buy rating for the company in a research note on Tuesday, February 27th. JPMorgan Chase & Co. lifted their price target on Day One Biopharmaceuticals from $32.00 to $36.00 and gave the company an overweight rating in a research note on Monday. Finally, HC Wainwright restated a buy rating and issued a $50.00 target price on shares of Day One Biopharmaceuticals in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $39.33.

Day One Biopharmaceuticals Price Performance

Shares of Day One Biopharmaceuticals stock opened at $15.19 on Wednesday. Day One Biopharmaceuticals has a one year low of $9.67 and a one year high of $17.85. The firm has a market capitalization of $1.33 billion, a price-to-earnings ratio of -6.38 and a beta of -1.48. The business has a 50-day simple moving average of $15.28 and a 200 day simple moving average of $13.79.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings results on Monday, February 26th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). On average, sell-side analysts expect that Day One Biopharmaceuticals will post -2.66 EPS for the current year.

Insiders Place Their Bets

In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 10,000 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $16.02, for a total transaction of $160,200.00. Following the sale, the insider now owns 1,174,662 shares in the company, valued at $18,818,085.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 10,000 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $16.02, for a total transaction of $160,200.00. Following the sale, the insider now owns 1,174,662 shares in the company, valued at $18,818,085.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Adam Dubow sold 3,242 shares of the stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.25, for a total value of $49,440.50. Following the completion of the sale, the general counsel now owns 16,585 shares in the company, valued at approximately $252,921.25. The disclosure for this sale can be found here. Insiders have sold a total of 55,781 shares of company stock worth $883,160 over the last 90 days. Corporate insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Quest Partners LLC bought a new position in Day One Biopharmaceuticals in the fourth quarter valued at $29,000. China Universal Asset Management Co. Ltd. increased its stake in Day One Biopharmaceuticals by 130.9% in the third quarter. China Universal Asset Management Co. Ltd. now owns 2,226 shares of the company’s stock valued at $27,000 after acquiring an additional 1,262 shares during the last quarter. Quintet Private Bank Europe S.A. increased its stake in Day One Biopharmaceuticals by 43.2% in the fourth quarter. Quintet Private Bank Europe S.A. now owns 3,313 shares of the company’s stock valued at $48,000 after acquiring an additional 1,000 shares during the last quarter. Amalgamated Bank increased its stake in Day One Biopharmaceuticals by 35.7% in the third quarter. Amalgamated Bank now owns 8,628 shares of the company’s stock valued at $106,000 after acquiring an additional 2,268 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its stake in Day One Biopharmaceuticals by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 10,072 shares of the company’s stock valued at $147,000 after acquiring an additional 2,554 shares during the last quarter. Institutional investors 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.