Day One Biopharmaceuticals (NASDAQ:DAWN) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a $33.00 target price on the stock.

A number of other equities analysts also recently commented on the stock. Piper Sandler reiterated an overweight rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a research note on Tuesday, March 26th. HC Wainwright decreased their price objective on shares of Day One Biopharmaceuticals from $50.00 to $40.00 and set a buy rating for the company in a research note on Tuesday. The Goldman Sachs Group decreased their price objective on shares of Day One Biopharmaceuticals from $50.00 to $44.00 and set a buy rating for the company in a research note on Tuesday, February 27th. Wedbush restated an outperform rating and issued a $33.00 price objective on shares of Day One Biopharmaceuticals in a research note on Wednesday, April 24th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Day One Biopharmaceuticals from $32.00 to $36.00 and gave the company an overweight rating in a research note on Monday, April 22nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Day One Biopharmaceuticals presently has a consensus rating of Moderate Buy and a consensus target price of $37.67.

Day One Biopharmaceuticals Trading Up 2.9 %

Shares of DAWN stock opened at $17.08 on Tuesday. The firm has a fifty day moving average price of $15.47 and a 200 day moving average price of $14.12. The company has a market cap of $1.49 billion, a P/E ratio of -7.18 and a beta of -1.44. Day One Biopharmaceuticals has a 12 month low of $9.67 and a 12 month high of $18.07.

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

Insider Activity

In other news, General Counsel Adam Dubow sold 3,242 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.25, for a total value of $49,440.50. Following the completion of the sale, the general counsel now directly owns 16,585 shares of the company’s stock, valued at $252,921.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Charles N. York II sold 8,078 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.85, for a total transaction of $144,192.30. Following the completion of the transaction, the chief financial officer now directly owns 217,293 shares of the company’s stock, valued at $3,878,680.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Adam Dubow sold 3,242 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.25, for a total transaction of $49,440.50. Following the transaction, the general counsel now directly owns 16,585 shares of the company’s stock, valued at $252,921.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 195,247 shares of company stock valued at $3,376,817. Insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised 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 purchasing an additional 346,090 shares in the last quarter. Franklin Resources Inc. raised 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 purchasing an additional 169,463 shares in the last quarter. Braidwell LP raised 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 purchasing an additional 500,000 shares in the last quarter. Goldman Sachs Group Inc. grew its position 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 during the period. Finally, Polar Capital Holdings Plc grew its position 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 during the period. 87.95% of the stock is owned by hedge funds and other institutional investors.

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.