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

Needham & Company LLC reiterated their buy rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a research report released on Monday,Benzinga reports. The brokerage currently has a $16.00 price objective on the stock.

Several other analysts have also recently commented on the stock. Piper Sandler upped their target price on shares of Day One Biopharmaceuticals from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. HC Wainwright dropped their price objective on Day One Biopharmaceuticals from $36.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Day One Biopharmaceuticals in a report on Wednesday, November 19th. JPMorgan Chase & Co. increased their target price on shares of Day One Biopharmaceuticals from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, Zacks Research raised Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Day One Biopharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $24.43.

Day One Biopharmaceuticals Trading Up 4.2%

DAWN stock opened at $8.88 on Monday. Day One Biopharmaceuticals has a 1-year low of $5.64 and a 1-year high of $14.46. The business’s 50 day moving average is $7.76 and its 200-day moving average is $7.10. The firm has a market cap of $911.80 million, a P/E ratio of -5.84 and a beta of -1.25.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its earnings results on Tuesday, November 4th. The company reported ($0.19) earnings per share (EPS) 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 analysts’ expectations of $38.20 million. During the same quarter last year, the company posted $0.38 EPS. The firm’s revenue for the quarter was down 57.6% on a year-over-year basis. Sell-side analysts forecast that Day One Biopharmaceuticals will post -0.72 EPS for the current year.

Insider Buying and Selling at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, CFO Charles N. York II sold 4,062 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $8.91, for a total value of $36,192.42. Following the transaction, the chief financial officer owned 294,715 shares of the company’s stock, valued at approximately $2,625,910.65. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lauren Merendino sold 3,726 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $8.91, for a total transaction of $33,198.66. Following the sale, the insider owned 50,809 shares of the company’s stock, valued at approximately $452,708.19. The trade was a 6.83% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 28,001 shares of company stock valued at $249,489. Insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. PharVision Advisers LLC bought a new position in shares of Day One Biopharmaceuticals in the third quarter valued at approximately $299,000. XTX Topco Ltd grew its stake in shares of Day One Biopharmaceuticals by 224.9% in the third quarter. XTX Topco Ltd now owns 78,848 shares of the company’s stock worth $556,000 after purchasing an additional 54,580 shares during the last quarter. Polymer Capital Management US LLC bought a new position in Day One Biopharmaceuticals in the third quarter worth about $134,000. Quarry LP bought a new stake in shares of Day One Biopharmaceuticals during the 3rd quarter valued at $49,000. Finally, Qube Research & Technologies Ltd boosted its position in shares of Day One Biopharmaceuticals by 23.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,167,669 shares of the company’s stock worth $8,232,000 after purchasing an additional 223,467 shares in the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

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.