Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $8.60, but opened at $9.10. Day One Biopharmaceuticals shares last traded at $9.32, with a volume of 379,562 shares changing hands.
Wall Street Analysts Forecast Growth
Several research firms recently commented on DAWN. Needham & Company LLC reiterated a "buy" rating and set a $32.00 target price on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. Wedbush restated an "outperform" rating and issued a $32.00 price objective on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. Bank of America dropped their price objective 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. HC Wainwright dropped their price objective on shares of Day One Biopharmaceuticals from $40.00 to $36.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group dropped their price objective on shares of Day One Biopharmaceuticals from $48.00 to $43.00 and set a "buy" rating for the company in a research note on Monday, February 10th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $34.57.
View Our Latest Stock Analysis on DAWN
Day One Biopharmaceuticals Stock Performance
The firm has a market cap of $878.75 million, a price-to-earnings ratio of -8.42 and a beta of -1.38. The business's 50-day moving average is $11.77 and its 200-day moving average is $13.19.
Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.34). The company had revenue of $29.21 million for the quarter, compared to analyst estimates of $27.11 million. Equities research analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, insider Samuel C. Blackman sold 30,000 shares of the firm's stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $13.31, for a total value of $399,300.00. Following the transaction, the insider now owns 1,034,015 shares of the company's stock, valued at approximately $13,762,739.65. This trade represents a 2.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Charles N. York II sold 4,370 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total transaction of $52,265.20. Following the completion of the transaction, the chief financial officer now directly owns 252,638 shares in the company, valued at $3,021,550.48. This trade represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,064 shares of company stock valued at $651,225 in the last 90 days. 8.40% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of DAWN. FMR LLC boosted its stake in shares of Day One Biopharmaceuticals by 73.9% in the 4th quarter. FMR LLC now owns 12,887,467 shares of the company's stock valued at $163,284,000 after purchasing an additional 5,475,087 shares during the last quarter. Alyeska Investment Group L.P. bought a new position in shares of Day One Biopharmaceuticals in the 4th quarter valued at about $31,829,000. Braidwell LP boosted its stake in shares of Day One Biopharmaceuticals by 60.5% in the 3rd 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 stake 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 purchasing an additional 1,250,000 shares during the last quarter. Finally, Boxer Capital Management LLC bought a new position in shares of Day One Biopharmaceuticals in the 4th quarter valued at about $15,077,000. Institutional investors own 87.95% of the company's stock.
Day One Biopharmaceuticals Company Profile
(
Get Free Report)
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.
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