Day One Biopharmaceuticals (NASDAQ:DAWN) Trading Up 5.2% Following Analyst Upgrade

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report) shot up 5.2% during mid-day trading on Wednesday after Needham & Company LLC raised their price target on the stock from $32.00 to $33.00. Needham & Company LLC currently has a buy rating on the stock. Day One Biopharmaceuticals traded as high as $14.49 and last traded at $14.40. 327,080 shares traded hands during trading, a decline of 64% from the average session volume of 916,812 shares. The stock had previously closed at $13.69.

Several other research firms have also commented on DAWN. HC Wainwright reiterated a "buy" rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a research report on Thursday, August 1st. Wedbush reiterated an "outperform" rating and issued a $33.00 price target on shares of Day One Biopharmaceuticals in a research report on Thursday, July 25th. JPMorgan Chase & Co. dropped their price objective on shares of Day One Biopharmaceuticals from $38.00 to $36.00 and set an "overweight" rating for the company in a research note on Tuesday, August 6th. Bank of America raised Day One Biopharmaceuticals from an "underperform" rating to a "buy" rating and upped their target price for the company from $11.00 to $24.00 in a research note on Thursday, August 1st. Finally, Piper Sandler reissued an "overweight" rating and set a $40.00 price target on shares of Day One Biopharmaceuticals in a research report on Monday, July 8th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $35.71.

Insider Buying and Selling

In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 20,000 shares of Day One Biopharmaceuticals stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $16.01, for a total value of $320,200.00. Following the completion of the sale, the insider now owns 1,121,081 shares in the company, valued at $17,948,506.81. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 20,000 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $16.01, for a total value of $320,200.00. Following the transaction, the insider now owns 1,121,081 shares in the company, valued at $17,948,506.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeremy Bender sold 10,681 shares of the company's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $14.00, for a total value of $149,534.00. Following the sale, the chief executive officer now owns 98,932 shares of the company's stock, valued at approximately $1,385,048. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 68,748 shares of company stock worth $1,009,272. 8.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Day One Biopharmaceuticals

A number of large investors have recently modified their holdings of the company. Quintet Private Bank Europe S.A. lifted its holdings in shares of Day One Biopharmaceuticals by 43.2% during the 4th quarter. Quintet Private Bank Europe S.A. now owns 3,313 shares of the company's stock valued at $48,000 after acquiring an additional 1,000 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Day One Biopharmaceuticals during the second quarter worth about $113,000. Point72 DIFC Ltd purchased a new stake in shares of Day One Biopharmaceuticals in the second quarter worth about $124,000. Hsbc Holdings PLC acquired a new stake in shares of Day One Biopharmaceuticals in the second quarter valued at about $163,000. Finally, Bayesian Capital Management LP purchased a new stake in shares of Day One Biopharmaceuticals during the 1st quarter valued at about $221,000. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Day One Biopharmaceuticals Trading Up 2.6 %

The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -5.74 and a beta of -1.51. The firm has a 50-day moving average of $13.90 and a 200 day moving average of $14.45.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last posted its earnings results on Tuesday, July 30th. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.75) by $0.70. The firm had revenue of $8.19 million for the quarter, compared to analyst estimates of $0.90 million. As a group, research analysts forecast that Day One Biopharmaceuticals, Inc. will post -1.68 EPS for the current 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.