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

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) have been given a consensus rating of “Buy” by the nine ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $35.86.

Several research firms have issued reports on DAWN. HC Wainwright reiterated a “buy” rating and issued a $40.00 target price on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. TD Cowen raised shares of Day One Biopharmaceuticals to a “strong-buy” rating in a research report on Monday, November 4th. Bank of America decreased their target price on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 price target on shares of Day One Biopharmaceuticals in a report on Monday, January 13th.

Day One Biopharmaceuticals Stock Performance

Shares of DAWN opened at $12.51 on Friday. The company has a 50 day moving average price of $12.86 and a 200-day moving average price of $13.87. Day One Biopharmaceuticals has a fifty-two week low of $11.13 and a fifty-two week high of $18.07. The stock has a market capitalization of $1.26 billion, a PE ratio of -12.15 and a beta of -1.46.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.58. The company had revenue of $93.76 million for the quarter, compared to the consensus estimate of $15.05 million. During the same period last year, the business posted ($0.54) EPS. Equities research analysts forecast that Day One Biopharmaceuticals will post -0.85 EPS for the current year.

Insider Buying and Selling at Day One Biopharmaceuticals

In other news, insider Samuel C. Blackman sold 11,245 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $16.03, for a total transaction of $180,257.35. Following the sale, the insider now directly owns 1,085,790 shares of the company’s stock, valued at $17,405,213.70. The trade was a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have sold 51,745 shares of company stock worth $748,567. 8.40% of the stock is owned by corporate insiders.

Institutional Trading of Day One Biopharmaceuticals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Day One Biopharmaceuticals by 178.5% in the third quarter. FMR LLC now owns 7,412,380 shares of the company’s stock worth $103,254,000 after purchasing an additional 4,750,936 shares during the last quarter. Braidwell LP increased its holdings in Day One Biopharmaceuticals by 60.5% in the 3rd quarter. Braidwell LP now owns 4,873,853 shares of the company’s stock worth $67,893,000 after buying an additional 1,837,949 shares during the period. Vestal Point Capital LP raised its position in Day One Biopharmaceuticals by 100.0% during the 3rd quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company’s stock worth $34,825,000 after buying an additional 1,250,000 shares during the last quarter. Deerfield Management Company L.P. Series C lifted its stake in Day One Biopharmaceuticals by 65.6% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 2,923,137 shares of the company’s stock valued at $40,281,000 after acquiring an additional 1,157,825 shares during the period. Finally, First Turn Management LLC purchased a new stake in shares of Day One Biopharmaceuticals in the 3rd quarter valued at $13,204,000. Institutional investors and hedge funds 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.