Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Given Average Recommendation of “Moderate Buy” by Analysts

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) has been given an average recommendation of “Moderate Buy” by the nine ratings firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $24.4286.

A number of equities research analysts recently commented on the company. Piper Sandler lifted their price objective on Day One Biopharmaceuticals from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research report on Thursday, October 30th. Needham & Company LLC decreased their price target on shares of Day One Biopharmaceuticals from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Zacks Research upgraded Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Day One Biopharmaceuticals from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, November 7th.

Day One Biopharmaceuticals Trading Down 0.2%

Shares of NASDAQ DAWN opened at $10.34 on Thursday. Day One Biopharmaceuticals has a 1 year low of $5.64 and a 1 year high of $15.91. The firm’s 50-day moving average is $7.55 and its 200-day moving average is $7.03. The firm has a market capitalization of $1.06 billion, a PE ratio of -6.80 and a beta of -1.25.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.09. Day One Biopharmaceuticals had a negative net margin of 113.53% and a negative return on equity of 32.05%. The business had revenue of $39.80 million during the quarter, compared to the consensus estimate of $38.20 million. During the same period in the previous year, the firm posted $0.38 earnings per share. Day One Biopharmaceuticals’s revenue for the quarter was down 57.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Day One Biopharmaceuticals will post -0.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Day One Biopharmaceuticals news, insider Lauren Merendino sold 3,766 shares of the firm’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $6.77, for a total transaction of $25,495.82. Following the completion of the sale, the insider owned 41,931 shares of the company’s stock, valued at $283,872.87. This trade represents a 8.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Adam Dubow sold 4,365 shares of the firm’s stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $6.77, for a total transaction of $29,551.05. Following the sale, the insider owned 54,858 shares of the company’s stock, valued at approximately $371,388.66. This represents a 7.37% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,295 shares of company stock worth $191,557 in the last quarter. Insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Federated Hermes Inc. bought a new position in Day One Biopharmaceuticals during the third quarter worth about $39,000. Ameritas Investment Partners Inc. grew its position in shares of Day One Biopharmaceuticals by 44.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,349 shares of the company’s stock worth $48,000 after purchasing an additional 2,264 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Day One Biopharmaceuticals during the second quarter worth approximately $67,000. Prudential Financial Inc. acquired a new stake in shares of Day One Biopharmaceuticals in the second quarter valued at approximately $69,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Day One Biopharmaceuticals in the second quarter valued at approximately $76,000. Institutional investors own 87.95% of the company’s stock.

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.