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

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report) has been given an average recommendation of "Moderate Buy" by the eight brokerages that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $35.71.

Several analysts have recently issued reports on the company. HC Wainwright reissued a "buy" rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a report on Thursday. Needham & Company LLC reiterated a "buy" rating and set a $33.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday. Bank of America raised shares of Day One Biopharmaceuticals from an "underperform" rating to a "buy" rating and raised their target price for the company from $11.00 to $24.00 in a report on Thursday, August 1st. JPMorgan Chase & Co. cut their price target on shares of Day One Biopharmaceuticals from $38.00 to $36.00 and set an "overweight" rating for the company in a report on Tuesday, August 6th. Finally, Piper Sandler reissued an "overweight" rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a research note on Monday, July 8th.

Insiders Place Their Bets

In related news, insider Samuel C. Blackman sold 30,000 shares of the firm's stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $14.22, for a total transaction of $426,600.00. Following the sale, the insider now owns 1,097,535 shares of the company's stock, valued at $15,606,947.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Jeremy Bender sold 10,681 shares of the firm's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $14.00, for a total transaction of $149,534.00. Following the completion of the transaction, the chief executive officer now owns 98,932 shares of the company's stock, valued at approximately $1,385,048. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Samuel C. Blackman sold 30,000 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $14.22, for a total transaction of $426,600.00. Following the transaction, the insider now owns 1,097,535 shares in the company, valued at approximately $15,606,947.70. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 48,748 shares of company stock valued at $689,072. 8.40% of the stock is currently owned by insiders.

Institutional Trading of Day One Biopharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of DAWN. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Day One Biopharmaceuticals by 38.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,611 shares of the company's stock valued at $51,000 after buying an additional 1,002 shares during the last quarter. SG Americas Securities LLC bought a new stake in Day One Biopharmaceuticals in the second quarter valued at approximately $113,000. Point72 DIFC Ltd bought a new stake in Day One Biopharmaceuticals during the second quarter valued at $124,000. Hsbc Holdings PLC bought a new position in shares of Day One Biopharmaceuticals in the 2nd quarter worth about $163,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Day One Biopharmaceuticals in the 1st quarter valued at about $221,000. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Day One Biopharmaceuticals Price Performance

Day One Biopharmaceuticals stock traded down $0.07 during midday trading on Friday, hitting $14.65. The company's stock had a trading volume of 1,194,332 shares, compared to its average volume of 1,145,668. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -14.22 and a beta of -1.51. Day One Biopharmaceuticals has a 1-year low of $10.90 and a 1-year high of $18.07. The company has a 50-day moving average price of $14.19 and a two-hundred day moving average price of $14.39.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share 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 analyst estimates of $15.05 million. During the same quarter in the previous year, the firm posted ($0.54) earnings per share. Sell-side analysts forecast that Day One Biopharmaceuticals will post -1.65 EPS for the current year.

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.