Needham & Company LLC Has Lowered Expectations for Day One Biopharmaceuticals (NASDAQ:DAWN) Stock Price

Day One Biopharmaceuticals (NASDAQ:DAWN) had its price objective cut by Needham & Company LLC from $30.00 to $27.00 in a report published on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts also recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. HC Wainwright reissued a “buy” rating and issued a $36.00 price objective on shares of Day One Biopharmaceuticals in a report on Thursday, April 3rd. Bank of America lowered their price objective on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. The Goldman Sachs Group reduced their target price on shares of Day One Biopharmaceuticals from $39.00 to $27.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. Finally, Wedbush reissued an “outperform” rating and issued a $32.00 price target on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Day One Biopharmaceuticals currently has an average rating of “Buy” and an average target price of $30.57.

Day One Biopharmaceuticals Stock Down 4.6 %

Day One Biopharmaceuticals stock opened at $6.45 on Wednesday. Day One Biopharmaceuticals has a 52 week low of $6.26 and a 52 week high of $17.14. The company’s 50 day moving average price is $7.70 and its two-hundred day moving average price is $11.10. The stock has a market cap of $653.73 million, a P/E ratio of -6.26 and a beta of -1.24.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.46) by $0.11. The business had revenue of $30.76 million during the quarter, compared to analysts’ expectations of $30.28 million. On average, equities analysts anticipate that Day One Biopharmaceuticals will post -0.72 EPS for the current year.

Insider Activity at Day One Biopharmaceuticals

In related news, General Counsel Adam Dubow sold 4,646 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total transaction of $55,566.16. Following the completion of the sale, the general counsel now owns 39,602 shares of the company’s stock, valued at approximately $473,639.92. This trade represents a 10.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeremy Bender sold 12,048 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total value of $144,094.08. Following the completion of the transaction, the chief executive officer now owns 128,015 shares in the company, valued at $1,531,059.40. This represents a 8.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,064 shares of company stock valued at $251,925. Corporate insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DAWN. FMR LLC raised its position in shares of Day One Biopharmaceuticals by 73.9% during the 4th quarter. FMR LLC now owns 12,887,467 shares of the company’s stock valued at $163,284,000 after buying an additional 5,475,087 shares in the last quarter. Alyeska Investment Group L.P. bought a new position in Day One Biopharmaceuticals in the fourth quarter valued at $31,829,000. Boxer Capital Management LLC purchased a new stake in Day One Biopharmaceuticals during the fourth quarter valued at about $15,077,000. Marshall Wace LLP bought a new stake in Day One Biopharmaceuticals during the fourth quarter worth about $13,909,000. Finally, Estuary Capital Management LP boosted its holdings in shares of Day One Biopharmaceuticals by 35.5% in the 4th quarter. Estuary Capital Management LP now owns 3,716,777 shares of the company’s stock worth $47,092,000 after purchasing an additional 972,997 shares in the last quarter. Hedge funds and other 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.