HC Wainwright Cuts Day One Biopharmaceuticals (NASDAQ:DAWN) Price Target to $36.00

Day One Biopharmaceuticals (NASDAQ:DAWN) had its target price reduced by HC Wainwright from $40.00 to $36.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the stock. HC Wainwright also issued estimates for Day One Biopharmaceuticals’ Q1 2025 earnings at ($0.28) EPS, Q2 2025 earnings at ($0.26) EPS, Q4 2025 earnings at ($0.18) EPS, FY2025 earnings at ($0.94) EPS, FY2026 earnings at $0.34 EPS, FY2027 earnings at $0.58 EPS, FY2028 earnings at $1.21 EPS and FY2029 earnings at $1.73 EPS.

A number of other research firms also recently commented on DAWN. Needham & Company LLC reiterated a “buy” rating and set a $33.00 target price on shares of Day One Biopharmaceuticals in a research report on Monday, January 13th. Bank of America reduced their price objective on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. TD Cowen upgraded Day One Biopharmaceuticals to a “strong-buy” rating in a research report on Monday, November 4th. Finally, The Goldman Sachs Group dropped their price objective on Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $34.86.

Day One Biopharmaceuticals Stock Performance

DAWN opened at $9.06 on Wednesday. The business’s fifty day moving average is $12.16 and its two-hundred day moving average is $13.38. The company has a market cap of $913.66 million, a price-to-earnings ratio of -8.80 and a beta of -1.46. Day One Biopharmaceuticals has a one year low of $9.02 and a one year high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its earnings results on Tuesday, February 25th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.34). The business had revenue of $29.21 million during the quarter, compared to the consensus estimate of $27.11 million. On average, analysts predict that Day One Biopharmaceuticals will post -0.72 EPS for the current fiscal year.

Insider Activity

In other news, insider Samuel C. Blackman sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $13.31, for a total value of $399,300.00. Following the completion of the transaction, the insider now owns 1,034,015 shares of the company’s stock, valued at $13,762,739.65. The trade was a 2.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jeremy Bender sold 12,048 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total transaction of $144,094.08. Following the completion of the transaction, the chief executive officer now directly owns 128,015 shares of the company’s stock, valued at approximately $1,531,059.40. This represents a 8.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,064 shares of company stock valued at $651,225 over the last 90 days. Insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of DAWN. FMR LLC increased its position in Day One Biopharmaceuticals by 73.9% during the fourth quarter. FMR LLC now owns 12,887,467 shares of the company’s stock worth $163,284,000 after purchasing an additional 5,475,087 shares during the last quarter. Alyeska Investment Group L.P. acquired a new position in Day One Biopharmaceuticals during the fourth quarter worth approximately $31,829,000. Braidwell LP increased its position in Day One Biopharmaceuticals by 60.5% during the third quarter. Braidwell LP now owns 4,873,853 shares of the company’s stock worth $67,893,000 after purchasing an additional 1,837,949 shares during the last quarter. Vestal Point Capital LP increased its position in Day One Biopharmaceuticals by 100.0% during the third quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company’s stock worth $34,825,000 after purchasing an additional 1,250,000 shares during the last quarter. Finally, Boxer Capital Management LLC acquired a new position in Day One Biopharmaceuticals during the fourth quarter worth approximately $15,077,000. 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.