Zacks Investment Research Lowers Day One Biopharmaceuticals (NASDAQ:DAWN) to Sell

Zacks Investment Research cut shares of Day One Biopharmaceuticals (NASDAQ:DAWNGet Rating) from a hold rating to a sell rating in a research note issued to investors on Friday morning, Zacks.com reports.

According to Zacks, “Day One Biopharmaceuticals Inc. is a clinical-stage biopharmaceutical company. It dedicated to developing and commercializing targeted therapies for patients of all ages with genetically defined cancers. Day One Biopharmaceuticals Inc. is based in SOUTH SAN FRANCISCO, Calif. “

Shares of DAWN stock opened at $11.32 on Friday. Day One Biopharmaceuticals has a fifty-two week low of $9.03 and a fifty-two week high of $28.70. The firm’s 50 day moving average price is $11.89 and its two-hundred day moving average price is $16.50.

Day One Biopharmaceuticals (NASDAQ:DAWNGet Rating) last announced its quarterly earnings results on Monday, March 7th. The company reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.01). As a group, equities research analysts anticipate that Day One Biopharmaceuticals will post -1.77 earnings per share for the current fiscal year.

In other Day One Biopharmaceuticals news, major shareholder Ai Day1 Llc purchased 43,429 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, January 18th. The shares were purchased at an average cost of $14.26 per share, with a total value of $619,297.54. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Several institutional investors and hedge funds have recently bought and sold shares of DAWN. Canaan Partners XI LLC purchased a new stake in shares of Day One Biopharmaceuticals during the fourth quarter valued at approximately $162,832,000. Deerfield Management Company L.P. Series C raised its stake in shares of Day One Biopharmaceuticals by 108.9% during the third quarter. Deerfield Management Company L.P. Series C now owns 1,710,730 shares of the company’s stock valued at $40,596,000 after purchasing an additional 891,750 shares during the period. BlackRock Inc. raised its stake in shares of Day One Biopharmaceuticals by 11,823.0% during the third quarter. BlackRock Inc. now owns 521,273 shares of the company’s stock valued at $12,370,000 after purchasing an additional 516,901 shares during the period. Pathway Capital Management LP purchased a new stake in shares of Day One Biopharmaceuticals during the fourth quarter valued at approximately $4,082,000. Finally, Millennium Management LLC purchased a new stake in shares of Day One Biopharmaceuticals during the third quarter valued at approximately $4,223,000. Institutional investors own 46.45% of the company’s stock.

Day One Biopharmaceuticals Company Profile (Get Rating)

Day One Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops and commercializes targeted therapies for patients with genetically defined cancers. Its lead product candidate is DAY101, an oral brain-penetrant type II pan-rapidly accelerated fibrosarcoma kinase inhibitor that is in Phase II clinical trial for pediatric patients with relapsed/progressive low-grade glioma.

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