Brokerages Set Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) PT at $30.57

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) have earned a consensus rating of “Buy” from the eight ratings firms that are presently covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $30.57.

A number of analysts have recently commented on the company. The Goldman Sachs Group cut their price objective on Day One Biopharmaceuticals from $39.00 to $27.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. Needham & Company LLC dropped their price target on shares of Day One Biopharmaceuticals from $30.00 to $27.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. HC Wainwright reissued a “buy” rating and issued a $36.00 price target on shares of Day One Biopharmaceuticals in a report on Thursday, April 3rd. JPMorgan Chase & Co. decreased their price objective on shares of Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. Finally, Wedbush reissued an “outperform” rating and set a $25.00 target price on shares of Day One Biopharmaceuticals in a research note on Wednesday, May 7th.

Day One Biopharmaceuticals Price Performance

NASDAQ:DAWN opened at $6.41 on Monday. The firm has a market cap of $649.72 million, a price-to-earnings ratio of -9.03 and a beta of -1.30. The company has a 50 day moving average price of $6.86 and a 200-day moving average price of $9.59. Day One Biopharmaceuticals has a 1-year low of $6.08 and a 1-year high of $16.76.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its earnings results on Tuesday, May 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.11. Day One Biopharmaceuticals had a negative net margin of 42.66% and a negative return on equity of 14.98%. The business had revenue of $30.76 million for the quarter, compared to analyst estimates of $30.28 million. On average, sell-side analysts anticipate that Day One Biopharmaceuticals will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Day One Biopharmaceuticals

In related news, CEO Jeremy Bender sold 13,964 shares of the business’s stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $6.26, for a total transaction of $87,414.64. Following the transaction, the chief executive officer now directly owns 145,737 shares in the company, valued at approximately $912,313.62. The trade was a 8.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Adam Dubow sold 4,552 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $6.26, for a total transaction of $28,495.52. Following the completion of the transaction, the general counsel now directly owns 47,136 shares in the company, valued at $295,071.36. This trade represents a 8.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,725 shares of company stock worth $167,299. Corporate insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DAWN. Handelsbanken Fonder AB increased its position in Day One Biopharmaceuticals by 16.7% during the fourth quarter. Handelsbanken Fonder AB now owns 31,500 shares of the company’s stock worth $399,000 after purchasing an additional 4,500 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Day One Biopharmaceuticals by 43.4% in the 4th quarter. Bank of New York Mellon Corp now owns 244,829 shares of the company’s stock valued at $3,102,000 after buying an additional 74,091 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Day One Biopharmaceuticals by 21.6% during the 4th quarter. Fisher Asset Management LLC now owns 89,132 shares of the company’s stock worth $1,129,000 after buying an additional 15,831 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Day One Biopharmaceuticals by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 535,501 shares of the company’s stock valued at $6,785,000 after buying an additional 28,053 shares during the period. Finally, E Fund Management Co. Ltd. acquired a new position in Day One Biopharmaceuticals in the fourth quarter valued at approximately $143,000. 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.