Day One Biopharmaceuticals’ (DAWN) Buy Rating Reaffirmed at Needham & Company LLC

Day One Biopharmaceuticals (NASDAQ:DAWN)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a note issued to investors on Tuesday, Benzinga reports. They presently have a $33.00 target price on the stock. Needham & Company LLC’s price objective suggests a potential upside of 101.10% from the stock’s previous close.

Several other brokerages have also recently issued reports on DAWN. JPMorgan Chase & Co. boosted their price target on shares of Day One Biopharmaceuticals from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. HC Wainwright reduced their price target on shares of Day One Biopharmaceuticals from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday. The Goldman Sachs Group cut their price objective on shares of Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. Oppenheimer restated a “market perform” rating on shares of Day One Biopharmaceuticals in a report on Tuesday, February 27th. Finally, Wedbush restated an “outperform” rating and issued a $33.00 price objective on shares of Day One Biopharmaceuticals in a report on Wednesday, April 24th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $37.67.

Day One Biopharmaceuticals Price Performance

Shares of NASDAQ DAWN opened at $16.41 on Tuesday. Day One Biopharmaceuticals has a 1 year low of $9.67 and a 1 year high of $18.07. The company’s 50-day moving average is $15.46 and its 200 day moving average is $14.17. The stock has a market capitalization of $1.43 billion, a P/E ratio of -6.89 and a beta of -1.44.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings results on Monday, February 26th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). Research analysts anticipate that Day One Biopharmaceuticals will post -2.67 earnings per share for the current year.

Insider Transactions at Day One Biopharmaceuticals

In other news, CFO Charles N. York II sold 2,666 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.25, for a total value of $40,656.50. Following the transaction, the chief financial officer now owns 277,754 shares in the company, valued at $4,235,748.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Charles N. York II sold 2,666 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.25, for a total value of $40,656.50. Following the transaction, the chief financial officer now owns 277,754 shares in the company, valued at $4,235,748.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Adam Dubow sold 3,242 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.25, for a total transaction of $49,440.50. Following the completion of the transaction, 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. Over the last 90 days, insiders have sold 195,247 shares of company stock worth $3,376,817. Corporate insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quest Partners LLC bought a new position in Day One Biopharmaceuticals during the fourth quarter valued at approximately $29,000. China Universal Asset Management Co. Ltd. lifted its position in Day One Biopharmaceuticals by 130.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,226 shares of the company’s stock valued at $27,000 after purchasing an additional 1,262 shares during the period. Quintet Private Bank Europe S.A. lifted its position in Day One Biopharmaceuticals by 43.2% during the fourth quarter. Quintet Private Bank Europe S.A. now owns 3,313 shares of the company’s stock valued at $48,000 after purchasing an additional 1,000 shares during the period. Amalgamated Bank lifted its position in Day One Biopharmaceuticals by 35.7% during the third quarter. Amalgamated Bank now owns 8,628 shares of the company’s stock valued at $106,000 after purchasing an additional 2,268 shares during the period. Finally, Exchange Traded Concepts LLC lifted its position in Day One Biopharmaceuticals by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 10,072 shares of the company’s stock valued at $147,000 after purchasing an additional 2,554 shares during the period. Institutional investors own 87.95% of the company’s stock.

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.