Bank of America Cuts Day One Biopharmaceuticals (NASDAQ:DAWN) Price Target to $25.00

Day One Biopharmaceuticals (NASDAQ:DAWN - Free Report) had its price target reduced by Bank of America from $28.00 to $25.00 in a research report sent to investors on Tuesday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

Several other research firms have also issued reports on DAWN. HC Wainwright reaffirmed a "buy" rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a "buy" rating and issued a $33.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. Finally, TD Cowen raised shares of Day One Biopharmaceuticals to a "strong-buy" rating in a research report on Monday, November 4th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Day One Biopharmaceuticals has an average rating of "Buy" and a consensus price target of $35.86.

Day One Biopharmaceuticals Stock Up 1.6 %

Shares of NASDAQ:DAWN traded up $0.20 during trading on Tuesday, reaching $12.40. 748,767 shares of the company traded hands, compared to its average volume of 841,167. The firm has a fifty day simple moving average of $13.63 and a 200 day simple moving average of $14.01. The firm has a market cap of $1.25 billion, a P/E ratio of -12.04 and a beta of -1.46. Day One Biopharmaceuticals has a 1-year low of $11.94 and a 1-year high of $18.07.

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

Insider Transactions at Day One Biopharmaceuticals

In other news, insider Samuel C. Blackman sold 10,000 shares of the business's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $16.10, for a total transaction of $161,000.00. Following the transaction, the insider now owns 1,057,535 shares in the company, valued at approximately $17,026,313.50. The trade was a 0.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last 90 days, insiders have sold 51,745 shares of company stock worth $748,567. 8.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC bought a new stake in Day One Biopharmaceuticals in the second quarter valued at about $994,000. Hsbc Holdings PLC bought a new stake in Day One Biopharmaceuticals in the second quarter valued at about $163,000. Ally Bridge Group NY LLC bought a new stake in Day One Biopharmaceuticals in the second quarter valued at about $7,387,000. Marshall Wace LLP grew its stake in Day One Biopharmaceuticals by 20.1% during the second quarter. Marshall Wace LLP now owns 161,129 shares of the company's stock worth $2,220,000 after buying an additional 26,958 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in Day One Biopharmaceuticals during the second quarter worth about $124,000. 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.