Day One Biopharmaceuticals’ (DAWN) Neutral Rating Reaffirmed at Wedbush

Wedbush reaffirmed their neutral rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a research note issued to investors on Monday morning,Benzinga reports. Wedbush currently has a $21.50 target price on the stock, down from their previous target price of $30.00.

Other equities analysts have also recently issued reports about the company. HC Wainwright reduced their price target on Day One Biopharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Oppenheimer restated a “market perform” rating on shares of Day One Biopharmaceuticals in a research note on Friday. Zacks Research lowered Day One Biopharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. JonesTrading cut Day One Biopharmaceuticals from a “buy” rating to a “hold” rating and upped their price target for the company from $20.00 to $21.50 in a research report on Friday. Finally, Needham & Company LLC downgraded shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $24.50.

Day One Biopharmaceuticals Trading Up 0.6%

DAWN opened at $21.33 on Monday. The company has a 50 day moving average of $11.34 and a 200 day moving average of $9.18. The company has a market cap of $2.20 billion, a PE ratio of -20.71 and a beta of -1.25. Day One Biopharmaceuticals has a 12 month low of $5.64 and a 12 month high of $21.40.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its earnings results on Tuesday, February 24th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). The business had revenue of $53.72 million for the quarter, compared to the consensus estimate of $49.81 million. Day One Biopharmaceuticals had a negative net margin of 67.85% and a negative return on equity of 23.43%. Research analysts forecast that Day One Biopharmaceuticals will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Day One Biopharmaceuticals news, insider Lauren Merendino sold 5,814 shares of Day One Biopharmaceuticals stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total transaction of $67,442.40. Following the completion of the sale, the insider owned 60,157 shares of the company’s stock, valued at $697,821.20. The trade was a 8.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Michael Vasconcelles sold 2,728 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total value of $31,644.80. Following the completion of the transaction, the insider owned 4,397 shares of the company’s stock, valued at $51,005.20. The trade was a 38.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 36,461 shares of company stock valued at $422,948 in the last three months. 6.20% of the stock is owned by corporate insiders.

Institutional Trading of Day One Biopharmaceuticals

A number of hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. bought a new position in Day One Biopharmaceuticals during the third quarter valued at approximately $39,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Day One Biopharmaceuticals by 26.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,989 shares of the company’s stock valued at $46,000 after purchasing an additional 1,029 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in shares of Day One Biopharmaceuticals by 44.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,349 shares of the company’s stock valued at $48,000 after purchasing an additional 2,264 shares in the last quarter. Quarry LP bought a new position in shares of Day One Biopharmaceuticals during the 3rd quarter valued at $49,000. Finally, Entropy Technologies LP bought a new position in shares of Day One Biopharmaceuticals during the 2nd quarter valued at $67,000. Institutional investors own 87.95% of the company’s stock.

Trending Headlines about Day One Biopharmaceuticals

Here are the key news stories impacting Day One Biopharmaceuticals this week:

• Positive Sentiment: Servier agreed to acquire Day One for $21.50 per share (~$2.5B), a takeover offer that prompted the rally by putting a clear floor on value and including Day One’s brain-tumor drug Ojemda and oncology assets. Read More.
• Positive Sentiment: Market outlets reported large pre-market and intraday price jumps and unusually high trading/option volume tied to the acquisition speculation and subsequent offer, signaling heavy investor interest and arbitrage activity. Read More.
• Neutral Sentiment: Unusually high options trading was reported ahead of and around the deal news; this underscores speculative positioning and short-term volatility but is not a definitive indicator of fundamentals. Read More.
• Neutral Sentiment: Short-interest data shown in some feeds appears to be a reporting glitch (zeros/NaN), so it offers no clear signal about bearish positioning at present.
• Neutral Sentiment: Coverage pieces and analyst roundups are circulating (Barron’s, Globe & Mail) summarizing the takeover and pipeline; these provide context but little new catalyst beyond the bid. Read More.
• Negative Sentiment: A PR notice flagged potential conflicts: insiders may receive special financial benefits in the proposed transactions and deal terms could include protections that limit superior competing offers — risks to shareholder value and to receiving a higher bid. Read More.
• Negative Sentiment: Several firms (Wedbush, Needham, JonesTrading) moved to “Hold” or cut coverage/price targets after the deal news; some target levels align with the $21.50 offer, signaling limited upside absent a higher bid. Read More.

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.