Day One Biopharmaceuticals (NASDAQ:DAWN) Receives “Buy” Rating from HC Wainwright

HC Wainwright reissued their buy rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a research note issued to investors on Wednesday, Benzinga reports. HC Wainwright currently has a $50.00 target price on the stock. HC Wainwright also issued estimates for Day One Biopharmaceuticals’ FY2024 earnings at ($2.79) EPS, FY2025 earnings at ($2.43) EPS, FY2026 earnings at ($1.34) EPS, FY2027 earnings at $0.15 EPS and FY2028 earnings at $1.87 EPS.

Other research analysts have also issued reports about the company. Needham & Company LLC lifted their target price on Day One Biopharmaceuticals from $30.00 to $33.00 and gave the stock a buy rating in a report on Wednesday. Piper Sandler reaffirmed an overweight rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a research note on Tuesday, March 26th. Oppenheimer reissued a market perform rating on shares of Day One Biopharmaceuticals in a research note on Tuesday, February 27th. The Goldman Sachs Group decreased 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. Finally, JPMorgan Chase & Co. increased their price objective on Day One Biopharmaceuticals from $32.00 to $36.00 and gave the company an overweight rating in a research report on Monday, April 22nd. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Day One Biopharmaceuticals has a consensus rating of Moderate Buy and a consensus price target of $39.33.

Day One Biopharmaceuticals Price Performance

Day One Biopharmaceuticals stock opened at $14.92 on Wednesday. Day One Biopharmaceuticals has a 12-month low of $9.67 and a 12-month high of $17.85. The stock has a market capitalization of $1.30 billion, a PE ratio of -6.27 and a beta of -1.48. The firm has a 50 day simple moving average of $15.22 and a 200-day simple moving average of $13.83.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings results on Monday, February 26th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). On average, analysts forecast that Day One Biopharmaceuticals will post -2.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Samuel C. Blackman sold 2,258 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.25, for a total value of $34,434.50. Following the completion of the sale, the insider now owns 1,244,662 shares of the company’s stock, valued at $18,981,095.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Samuel C. Blackman sold 2,258 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 $34,434.50. Following the completion of the sale, the insider now directly owns 1,244,662 shares in the company, valued at $18,981,095.50. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jeremy Bender sold 7,615 shares of the business’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 $116,128.75. Following the transaction, the chief executive officer now directly owns 721,813 shares in the company, valued at $11,007,648.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,781 shares of company stock worth $883,160. Corporate insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

A number of hedge funds have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. boosted its position in Day One Biopharmaceuticals by 130.9% during the third quarter. China Universal Asset Management Co. Ltd. now owns 2,226 shares of the company’s stock valued at $27,000 after purchasing an additional 1,262 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Day One Biopharmaceuticals during the 4th quarter worth about $29,000. Quintet Private Bank Europe S.A. raised its stake 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 worth $48,000 after purchasing an additional 1,000 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Day One Biopharmaceuticals by 35.7% during the 3rd quarter. Amalgamated Bank now owns 8,628 shares of the company’s stock valued at $106,000 after buying an additional 2,268 shares during the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of Day One Biopharmaceuticals by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 10,072 shares of the company’s stock valued at $147,000 after buying an additional 2,554 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

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.