Day One Biopharmaceuticals (NASDAQ:DAWN) Shares Gap Up After Analyst Upgrade

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) gapped up before the market opened on Monday after JPMorgan Chase & Co. raised their price target on the stock from $32.00 to $36.00. The stock had previously closed at $14.96, but opened at $15.39. JPMorgan Chase & Co. currently has an overweight rating on the stock. Day One Biopharmaceuticals shares last traded at $14.91, with a volume of 150,318 shares traded.

Several other equities analysts have also recently commented on DAWN. The Goldman Sachs Group reduced their price target on shares of Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. Oppenheimer reissued a “market perform” rating on shares of Day One Biopharmaceuticals in a report on Tuesday, February 27th. Finally, Piper Sandler reissued an “overweight” rating and issued a $40.00 target price on shares of Day One Biopharmaceuticals in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $39.83.

Insider Buying and Selling at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, General Counsel Adam Dubow sold 3,242 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.25, for a total value of $49,440.50. Following the sale, the general counsel now owns 16,585 shares in the company, valued at $252,921.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Charles N. York II sold 2,666 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.25, for a total transaction of $40,656.50. Following the transaction, the chief financial officer now owns 277,754 shares in the company, valued at $4,235,748.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Adam Dubow sold 3,242 shares of the firm’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.25, for a total transaction of $49,440.50. Following the transaction, the general counsel now owns 16,585 shares in the company, valued at approximately $252,921.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,781 shares of company stock worth $883,160. 8.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Day One Biopharmaceuticals by 8.1% during the third quarter. Vanguard Group Inc. now owns 4,629,754 shares of the company’s stock worth $56,807,000 after buying an additional 346,090 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Day One Biopharmaceuticals by 4.2% during the fourth quarter. Franklin Resources Inc. now owns 4,236,795 shares of the company’s stock worth $61,857,000 after buying an additional 169,463 shares in the last quarter. Braidwell LP boosted its holdings in Day One Biopharmaceuticals by 13.5% during the fourth quarter. Braidwell LP now owns 4,215,573 shares of the company’s stock worth $61,547,000 after buying an additional 500,000 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Day One Biopharmaceuticals by 28.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,118,849 shares of the company’s stock worth $30,935,000 after buying an additional 472,654 shares in the last quarter. Finally, Polar Capital Holdings Plc boosted its holdings in Day One Biopharmaceuticals by 9.0% during the third quarter. Polar Capital Holdings Plc now owns 1,935,000 shares of the company’s stock worth $23,742,000 after buying an additional 160,385 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Day One Biopharmaceuticals Price Performance

The stock has a market capitalization of $1.34 billion, a P/E ratio of -6.46 and a beta of -1.48. The stock’s fifty day moving average is $15.22 and its two-hundred day moving average is $13.75.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its earnings results on Monday, February 26th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). Analysts expect that Day One Biopharmaceuticals, Inc. will post -2.66 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.