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

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) has earned a consensus rating of “Moderate Buy” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $24.4286.

DAWN has been the topic of several analyst reports. Zacks Research raised shares of Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Piper Sandler lifted their target price on Day One Biopharmaceuticals from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Weiss Ratings reissued a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a report on Monday, December 1st. JPMorgan Chase & Co. raised their price objective on Day One Biopharmaceuticals from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $16.00 price objective on shares of Day One Biopharmaceuticals in a report on Monday, November 24th.

Day One Biopharmaceuticals Stock Performance

Day One Biopharmaceuticals stock opened at $7.92 on Monday. The firm has a market capitalization of $813.23 million, a PE ratio of -5.21 and a beta of -1.28. Day One Biopharmaceuticals has a one year low of $5.64 and a one year high of $13.92. The stock’s 50 day moving average price is $8.10 and its 200 day moving average price is $7.26.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, beating 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 company had revenue of $39.80 million for the quarter, compared to analyst estimates of $38.20 million. During the same quarter last year, the firm posted $0.38 earnings per share. The business’s quarterly revenue was down 57.6% on a year-over-year basis. On average, analysts forecast that Day One Biopharmaceuticals will post -0.72 earnings per share for the current fiscal year.

Insider Activity at Day One Biopharmaceuticals

In related news, CFO Charles N. York II sold 4,062 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $8.91, for a total value of $36,192.42. Following the sale, the chief financial officer directly owned 294,715 shares of the company’s stock, valued at $2,625,910.65. This represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lauren Merendino sold 3,726 shares of the firm’s stock in a transaction 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 transaction, the insider directly owned 50,809 shares of the company’s stock, valued at approximately $452,708.19. This represents a 6.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, 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

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Day One Biopharmaceuticals by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 5,943,243 shares of the company’s stock worth $47,130,000 after buying an additional 94,320 shares during the period. Invesco Ltd. boosted its holdings in shares of Day One Biopharmaceuticals by 41.6% in the first quarter. Invesco Ltd. now owns 46,424 shares of the company’s stock worth $368,000 after buying an additional 13,636 shares during the period. Nuveen LLC purchased a new position in shares of Day One Biopharmaceuticals in the first quarter worth approximately $1,107,000. Russell Investments Group Ltd. raised its holdings in shares of Day One Biopharmaceuticals by 326,700.0% during the first quarter. Russell Investments Group Ltd. now owns 16,340 shares of the company’s stock valued at $130,000 after acquiring an additional 16,335 shares during the period. Finally, American Century Companies Inc. acquired a new stake in shares of Day One Biopharmaceuticals during the first quarter valued at approximately $114,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

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.