Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Receives Consensus Rating of “Hold” from Brokerages

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) have earned an average recommendation of “Hold” from the eleven analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and two have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $23.75.

A number of research firms have weighed in on DAWN. Wedbush reiterated a “neutral” rating and issued a $21.50 target price (down from $30.00) on shares of Day One Biopharmaceuticals in a research note on Monday, March 9th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $21.50 target price (down from $27.00) on shares of Day One Biopharmaceuticals in a research note on Wednesday, March 11th. HC Wainwright restated a “neutral” rating and issued a $21.50 price target (down from $22.00) on shares of Day One Biopharmaceuticals in a report on Tuesday, March 10th. Zacks Research downgraded shares of Day One Biopharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Finally, JonesTrading lowered shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating and lifted their price objective for the company from $20.00 to $21.50 in a report on Friday, March 6th.

Day One Biopharmaceuticals Price Performance

Shares of NASDAQ DAWN opened at $21.29 on Wednesday. Day One Biopharmaceuticals has a 1 year low of $5.64 and a 1 year high of $21.43. The firm has a 50-day simple moving average of $12.82 and a two-hundred day simple moving average of $9.77. The company has a market cap of $2.20 billion, a P/E ratio of -20.67 and a beta of -1.25.

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

Insider Buying and Selling at Day One Biopharmaceuticals

In related news, insider Lauren Merendino sold 5,814 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 value of $67,442.40. Following the transaction, the insider owned 60,157 shares of the company’s stock, valued at $697,821.20. This represents a 8.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Vasconcelles sold 2,728 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total value of $31,644.80. Following the transaction, the insider owned 4,397 shares in the company, valued at $51,005.20. The trade was a 38.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 36,461 shares of company stock valued at $422,948. 6.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Several hedge funds have recently made changes to their positions in DAWN. Federated Hermes Inc. purchased a new position in shares of Day One Biopharmaceuticals during the third quarter valued at $39,000. Mirae Asset Global Investments Co. Ltd. raised its holdings 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. raised its holdings 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 purchased a new stake in shares of Day One Biopharmaceuticals in the 3rd quarter worth approximately $49,000. Finally, Entropy Technologies LP bought a new position in shares of Day One Biopharmaceuticals during the second quarter valued at approximately $67,000. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

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.