JPMorgan Chase & Co. Reaffirms “Neutral” Rating for Day One Biopharmaceuticals (NASDAQ:DAWN)

Day One Biopharmaceuticals (NASDAQ:DAWN)‘s stock had its “neutral” rating reissued by equities research analysts at JPMorgan Chase & Co. in a report released on Wednesday,Benzinga reports. They currently have a $21.50 target price on the stock, down from their previous target price of $27.00. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 1.08% from the stock’s previous close.

DAWN has been the subject of several other reports. Zacks Research downgraded shares of Day One Biopharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Needham & Company LLC downgraded shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. TD Cowen lowered shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. JonesTrading cut shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $20.00 to $21.50 in a research report on Friday, March 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $23.75.

Day One Biopharmaceuticals Stock Up 0.1%

Shares of Day One Biopharmaceuticals stock opened at $21.27 on Wednesday. Day One Biopharmaceuticals has a 12-month low of $5.64 and a 12-month high of $21.43. The firm has a market capitalization of $2.20 billion, a PE ratio of -20.65 and a beta of -1.25. The stock’s fifty day moving average is $12.06 and its 200-day moving average is $9.44.

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

Insider Activity

In other Day One Biopharmaceuticals news, CFO Charles N. York II sold 6,065 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $11.60, for a total value of $70,354.00. Following the transaction, the chief financial officer owned 312,025 shares in the company, valued at approximately $3,619,490. This represents a 1.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeremy Bender sold 15,459 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total transaction of $179,324.40. Following the completion of the sale, the chief executive officer owned 204,603 shares of the company’s stock, valued at approximately $2,373,394.80. The trade was a 7.02% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 36,461 shares of company stock valued at $422,948 in the last three months. 6.20% of the stock is currently owned by insiders.

Institutional Trading of Day One Biopharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of DAWN. Vanguard Group Inc. grew its stake in Day One Biopharmaceuticals by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 6,282,376 shares of the company’s stock valued at $58,552,000 after purchasing an additional 101,047 shares in the last quarter. Vestal Point Capital LP raised its stake in shares of Day One Biopharmaceuticals by 94.4% during the 4th quarter. Vestal Point Capital LP now owns 5,200,000 shares of the company’s stock worth $48,464,000 after purchasing an additional 2,525,000 shares in the last quarter. Deerfield Management Company L.P. raised its stake in shares of Day One Biopharmaceuticals by 26.4% during the 3rd quarter. Deerfield Management Company L.P. now owns 4,705,413 shares of the company’s stock worth $33,173,000 after purchasing an additional 982,282 shares in the last quarter. State Street Corp lifted its holdings in shares of Day One Biopharmaceuticals by 32.4% during the 4th quarter. State Street Corp now owns 4,289,566 shares of the company’s stock valued at $39,979,000 after buying an additional 1,049,122 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Day One Biopharmaceuticals by 2.0% in the 2nd quarter. Franklin Resources Inc. now owns 4,097,625 shares of the company’s stock valued at $26,635,000 after buying an additional 79,255 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 (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.