Day One Biopharmaceuticals (NASDAQ:DAWN) Stock Price Up 5% - What's Next?

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report) shot up 5% during mid-day trading on Monday . The company traded as high as $7.03 and last traded at $7.18. 168,101 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 1,116,017 shares. The stock had previously closed at $6.84.

Analysts Set New Price Targets

Several brokerages have recently commented on DAWN. The Goldman Sachs Group lowered their price objective on Day One Biopharmaceuticals from $39.00 to $27.00 and set a "buy" rating on the stock in a research report on Tuesday, March 25th. Needham & Company LLC restated a "buy" rating and issued a $32.00 price target on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lowered their target price 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. HC Wainwright reaffirmed a "buy" rating and set a $36.00 target price on shares of Day One Biopharmaceuticals in a research note on Thursday, April 3rd. Finally, Wedbush reiterated an "outperform" rating and issued a $32.00 price target on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Day One Biopharmaceuticals presently has an average rating of "Buy" and a consensus price target of $32.29.

Day One Biopharmaceuticals Trading Down 2.4 %

The business's 50 day simple moving average is $8.44 and its 200 day simple moving average is $11.64. The firm has a market capitalization of $781.44 million, a PE ratio of -7.49 and a beta of -1.24.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.34). The business had revenue of $29.21 million during the quarter, compared to the consensus estimate of $27.11 million. Analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current year.

Insider Activity at Day One Biopharmaceuticals

In related news, CEO Jeremy Bender sold 12,048 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $144,094.08. Following the sale, the chief executive officer now directly owns 128,015 shares of the company's stock, valued at $1,531,059.40. This represents a 8.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Charles N. York II sold 4,370 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $52,265.20. Following the transaction, the chief financial officer now owns 252,638 shares of the company's stock, 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. In the last 90 days, insiders have sold 21,064 shares of company stock worth $251,925. Company insiders own 8.40% of the company's stock.

Institutional Trading of Day One Biopharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC grew its holdings in shares of Day One Biopharmaceuticals by 19.6% in the first quarter. Exchange Traded Concepts LLC now owns 14,693 shares of the company's stock worth $117,000 after purchasing an additional 2,407 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in Day One Biopharmaceuticals in the 1st quarter valued at about $88,000. Pallas Capital Advisors LLC bought a new position in Day One Biopharmaceuticals in the 1st quarter worth about $87,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Day One Biopharmaceuticals by 13.9% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 137,968 shares of the company's stock worth $1,094,000 after acquiring an additional 16,801 shares during the period. Finally, Rhumbline Advisers increased its position in shares of Day One Biopharmaceuticals by 8.3% during the first quarter. Rhumbline Advisers now owns 81,844 shares of the company's stock worth $649,000 after acquiring an additional 6,291 shares during the period. 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.