Day One Biopharmaceuticals (NASDAQ:DAWN) Earns Buy Rating from HC Wainwright

Day One Biopharmaceuticals (NASDAQ:DAWN)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a research report issued on Monday,Benzinga reports. They currently have a $25.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 176.33% from the stock’s current price.

Other analysts have also issued research reports about the stock. Zacks Research raised shares of Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Day One Biopharmaceuticals in a research report on Wednesday. JPMorgan Chase & Co. lifted their price objective on Day One Biopharmaceuticals from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Piper Sandler increased their target price on Day One Biopharmaceuticals from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $16.00 target price on shares of Day One Biopharmaceuticals in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Day One Biopharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.43.

Day One Biopharmaceuticals Stock Performance

Shares of NASDAQ DAWN traded up $0.53 during midday trading on Monday, reaching $9.05. 2,024,257 shares of the company traded hands, compared to its average volume of 1,510,234. Day One Biopharmaceuticals has a 12 month low of $5.64 and a 12 month high of $14.46. The stock’s 50-day simple moving average is $7.72 and its 200-day simple moving average is $7.09. The firm has a market cap of $928.95 million, a PE ratio of -5.95 and a beta of -1.25.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its earnings results on Tuesday, November 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.09. The business had revenue of $39.80 million during the quarter, compared to analysts’ expectations of $38.20 million. Day One Biopharmaceuticals had a negative net margin of 113.53% and a negative return on equity of 32.05%. The firm’s revenue for the quarter was down 57.6% on a year-over-year basis. During the same quarter last year, the company posted $0.38 EPS. On average, equities research analysts expect that Day One Biopharmaceuticals will post -0.72 EPS for the current year.

Insider Transactions at Day One Biopharmaceuticals

In other news, insider Adam Dubow sold 4,319 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $8.91, for a total transaction of $38,482.29. Following the completion of the sale, the insider owned 62,626 shares in the company, valued at $557,997.66. The trade was a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Charles N. York II sold 4,062 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $8.91, for a total value of $36,192.42. Following the transaction, the chief financial officer directly owned 294,715 shares in the company, valued at $2,625,910.65. This trade represents a 1.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 28,001 shares of company stock valued at $249,489 over the last quarter. Corporate insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of DAWN. Vanguard Group Inc. raised its stake in shares of Day One Biopharmaceuticals by 1.6% during the first quarter. Vanguard Group Inc. now owns 5,943,243 shares of the company’s stock worth $47,130,000 after buying an additional 94,320 shares during the last quarter. Deerfield Management Company L.P. grew its holdings in Day One Biopharmaceuticals by 26.4% during the 3rd quarter. Deerfield Management Company L.P. now owns 4,705,413 shares of the company’s stock worth $33,173,000 after acquiring an additional 982,282 shares during the period. Franklin Resources Inc. grew its holdings in Day One Biopharmaceuticals by 2.0% during the 2nd quarter. Franklin Resources Inc. now owns 4,097,625 shares of the company’s stock worth $26,635,000 after acquiring an additional 79,255 shares during the period. Alyeska Investment Group L.P. raised its position in shares of Day One Biopharmaceuticals by 61.6% during the 1st quarter. Alyeska Investment Group L.P. now owns 4,059,764 shares of the company’s stock valued at $32,194,000 after acquiring an additional 1,547,577 shares during the last quarter. Finally, Rubric Capital Management LP acquired a new position in shares of Day One Biopharmaceuticals in the 3rd quarter valued at $23,808,000. 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.