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

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) have been given an average rating of “Moderate Buy” by the nine analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $24.4286.

A number of brokerages have recently weighed in on DAWN. JPMorgan Chase & Co. boosted their price target on Day One Biopharmaceuticals from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research note on Monday. Zacks Research raised shares of Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price target on shares of Day One Biopharmaceuticals in a report on Monday, November 24th. Finally, Piper Sandler increased their price objective on shares of Day One Biopharmaceuticals from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th.

Insider Buying and Selling

In related news, 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 value of $33,198.66. Following the sale, the insider owned 50,809 shares of the company’s stock, valued at approximately $452,708.19. This trade represents a 6.83% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Charles N. York II sold 4,062 shares of the company’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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 28,001 shares of company stock valued at $249,489 over the last quarter. Company insiders own 6.20% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

Several hedge funds have recently bought and sold shares of DAWN. Tudor Investment Corp ET AL grew its position in Day One Biopharmaceuticals by 36.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 49,550 shares of the company’s stock worth $349,000 after purchasing an additional 13,157 shares during the last quarter. Hudson Bay Capital Management LP boosted its position in shares of Day One Biopharmaceuticals by 1.8% during the third quarter. Hudson Bay Capital Management LP now owns 1,320,000 shares of the company’s stock worth $9,306,000 after buying an additional 23,300 shares during the period. PharVision Advisers LLC bought a new position in shares of Day One Biopharmaceuticals in the third quarter worth $299,000. XTX Topco Ltd lifted its stake in shares of Day One Biopharmaceuticals by 224.9% in the 3rd quarter. XTX Topco Ltd now owns 78,848 shares of the company’s stock worth $556,000 after acquiring an additional 54,580 shares during the period. Finally, Polymer Capital Management US LLC acquired a new position in shares of Day One Biopharmaceuticals during the 3rd quarter valued at $134,000. 87.95% of the stock is currently owned by institutional investors.

Day One Biopharmaceuticals Stock Performance

Shares of DAWN stock opened at $9.32 on Friday. Day One Biopharmaceuticals has a one year low of $5.64 and a one year high of $13.53. The company’s 50-day simple moving average is $8.74 and its 200-day simple moving average is $7.56. The stock has a market capitalization of $956.98 million, a price-to-earnings ratio of -6.13 and a beta of -1.27.

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

Day One Biopharmaceuticals Company Profile

Day One Biopharmaceuticals, Inc (NASDAQ: DAWN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted therapies for oncology. The company employs a precision medicine approach, leveraging biomarker-driven strategies to identify patient populations most likely to respond to its investigational compounds. By concentrating on well-validated molecular drivers of cancer, Day One seeks to deliver first-in-class or best-in-class therapies with the potential for meaningful clinical benefit.

The company’s pipeline includes several small-molecule candidates in various stages of development.