Day One Biopharmaceuticals (NASDAQ:DAWN) Shares Up 12.2% After Analyst Upgrade

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s stock price traded up 12.2% during trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $32.00 to $36.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Day One Biopharmaceuticals traded as high as $17.39 and last traded at $17.26. 3,653,007 shares were traded during trading, an increase of 457% from the average session volume of 656,201 shares. The stock had previously closed at $15.38.

DAWN has been the topic of a number of other reports. The Goldman Sachs Group decreased their price target on Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. Oppenheimer restated a “market perform” rating on shares of Day One Biopharmaceuticals in a research report on Tuesday, February 27th. Finally, Piper Sandler restated an “overweight” rating and set a $40.00 price objective on shares of Day One Biopharmaceuticals in a research report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.83.

Insider Activity

In other news, CEO Jeremy Bender sold 7,615 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.25, for a total transaction of $116,128.75. Following the completion of the transaction, the chief executive officer now owns 721,813 shares in the company, valued at $11,007,648.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Jeremy Bender sold 7,615 shares of Day One Biopharmaceuticals stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.25, for a total value of $116,128.75. Following the completion of the transaction, the chief executive officer now owns 721,813 shares in the company, valued at $11,007,648.25. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Samuel C. Blackman sold 20,000 shares of Day One Biopharmaceuticals stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $16.11, for a total value of $322,200.00. Following the completion of the transaction, the insider now owns 1,224,662 shares of the company’s stock, valued at approximately $19,729,304.82. The disclosure for this sale can be found here. Insiders sold a total of 55,781 shares of company stock worth $883,160 over the last 90 days. Corporate insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Day One Biopharmaceuticals by 8.1% in the third quarter. Vanguard Group Inc. now owns 4,629,754 shares of the company’s stock worth $56,807,000 after acquiring an additional 346,090 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Day One Biopharmaceuticals by 38.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 447,138 shares of the company’s stock valued at $5,486,000 after buying an additional 125,050 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Day One Biopharmaceuticals by 22.4% during the third quarter. Bank of New York Mellon Corp now owns 220,296 shares of the company’s stock valued at $2,703,000 after buying an additional 40,387 shares during the period. TimesSquare Capital Management LLC boosted its position in shares of Day One Biopharmaceuticals by 41.8% during the third quarter. TimesSquare Capital Management LLC now owns 1,142,610 shares of the company’s stock valued at $14,020,000 after buying an additional 336,910 shares during the period. Finally, Deutsche Bank AG boosted its position in shares of Day One Biopharmaceuticals by 5.5% during the third quarter. Deutsche Bank AG now owns 177,137 shares of the company’s stock valued at $2,173,000 after buying an additional 9,219 shares during the period. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Day One Biopharmaceuticals Price Performance

The company has a 50-day simple moving average of $15.27 and a 200-day simple moving average of $13.78. The firm has a market cap of $1.45 billion, a PE ratio of -6.99 and a beta of -1.48.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its earnings results on Monday, February 26th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). As a group, equities research analysts predict that Day One Biopharmaceuticals, Inc. will post -2.66 earnings per share 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.