Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Given Average Recommendation of "Buy" by Brokerages

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report) have earned a consensus recommendation of "Buy" from the eight brokerages that are currently covering the stock, MarketBeat Ratings 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 price target among analysts that have updated their coverage on the stock in the last year is $32.29.

A number of brokerages recently commented on DAWN. Bank of America lowered 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 note on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price objective on shares of Day One Biopharmaceuticals from $39.00 to $34.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. Needham & Company LLC reissued a "buy" rating and issued a $32.00 price target on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. The Goldman Sachs Group reduced their target price on Day One Biopharmaceuticals from $39.00 to $27.00 and set a "buy" rating for the company in a report on Tuesday, March 25th. Finally, Wedbush reissued an "outperform" rating and issued a $32.00 price objective on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th.

Day One Biopharmaceuticals Stock Performance

Shares of DAWN traded down $0.06 during midday trading on Friday, hitting $7.68. 1,023,523 shares of the stock were exchanged, compared to its average volume of 1,062,520. The stock has a fifty day simple moving average of $8.27 and a 200 day simple moving average of $11.53. Day One Biopharmaceuticals has a 52-week low of $6.41 and a 52-week high of $18.07. The firm has a market cap of $778.40 million, a P/E ratio of -7.46 and a beta of -1.24.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.34). The firm had revenue of $29.21 million during the quarter, compared to analyst estimates of $27.11 million. As a group, equities research analysts forecast that Day One Biopharmaceuticals will post -0.72 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Adam Dubow sold 4,646 shares of Day One Biopharmaceuticals stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $55,566.16. Following the sale, the general counsel now directly owns 39,602 shares in the company, valued at $473,639.92. This trade represents a 10.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeremy Bender sold 12,048 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total value of $144,094.08. Following the transaction, the chief executive officer now owns 128,015 shares of the company's stock, valued at approximately $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. Insiders have sold 21,064 shares of company stock valued at $251,925 over the last quarter. Insiders own 6.20% of the company's stock.

Institutional Inflows and Outflows

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