Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Receives $35.71 Consensus Target Price from Analysts

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report) have been assigned a consensus rating of "Buy" from the nine brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $35.71.

Several research firms have issued reports on DAWN. Needham & Company LLC reaffirmed a "buy" rating and set a $33.00 price objective on shares of Day One Biopharmaceuticals in a report on Thursday, October 31st. HC Wainwright reaffirmed a "buy" rating and issued a $40.00 price target on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. Finally, TD Cowen upgraded Day One Biopharmaceuticals to a "strong-buy" rating in a research note on Monday, November 4th.

Insider Activity

In other news, insider Samuel C. Blackman sold 10,000 shares of the company's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $16.10, for a total transaction of $161,000.00. Following the sale, the insider now owns 1,057,535 shares of the company's stock, valued at approximately $17,026,313.50. This represents a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 51,745 shares of company stock valued at $748,567. 8.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Several large investors have recently bought and sold shares of DAWN. FMR LLC grew its stake in shares of Day One Biopharmaceuticals by 178.5% during 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 in the last quarter. Braidwell LP increased its stake in Day One Biopharmaceuticals by 60.5% in the third quarter. Braidwell LP now owns 4,873,853 shares of the company's stock valued at $67,893,000 after purchasing an additional 1,837,949 shares during the last quarter. Vestal Point Capital LP boosted its holdings in shares of Day One Biopharmaceuticals by 100.0% in the 3rd quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company's stock valued at $34,825,000 after buying an additional 1,250,000 shares in the last quarter. Deerfield Management Company L.P. Series C raised 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 worth $40,281,000 after acquiring an additional 1,157,825 shares in the last quarter. Finally, First Turn Management LLC purchased a new stake in Day One Biopharmaceuticals in the third quarter valued at $13,204,000. Hedge funds and other institutional investors own 87.95% of the company's stock.

Day One Biopharmaceuticals Stock Down 0.8 %

Shares of NASDAQ:DAWN traded down $0.10 during midday trading on Monday, reaching $12.69. The company's stock had a trading volume of 784,631 shares, compared to its average volume of 963,777. The firm has a market capitalization of $1.28 billion, a PE ratio of -12.32 and a beta of -1.51. The stock has a fifty day moving average of $14.07 and a 200 day moving average of $14.02. Day One Biopharmaceuticals has a twelve month low of $11.94 and a twelve month high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating analysts' consensus estimates of ($0.20) by $0.58. The business had revenue of $93.76 million during the quarter, compared to analysts' expectations of $15.05 million. During the same quarter last year, the firm earned ($0.54) earnings per share. Sell-side analysts anticipate that Day One Biopharmaceuticals will post -0.88 earnings per share for the current fiscal year.

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.