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

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) has been assigned a consensus recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $25.7143.

Several brokerages have recently commented on DAWN. Needham & Company LLC restated a “buy” rating and issued a $16.00 target price on shares of Day One Biopharmaceuticals in a research note on Monday, November 24th. TD Cowen assumed coverage on shares of Day One Biopharmaceuticals in a report on Tuesday, January 13th. They set a “buy” rating and a $34.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $25.00 price objective on shares of Day One Biopharmaceuticals in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. boosted their target price on Day One Biopharmaceuticals from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, November 7th.

Insiders Place Their Bets

In other Day One Biopharmaceuticals news, CFO Charles N. York II sold 4,062 shares of the business’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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lauren Merendino sold 3,726 shares of the firm’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 $33,198.66. Following the completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 28,001 shares of company stock worth $249,489. 6.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Institutional investors have recently modified their holdings of the stock. Federated Hermes Inc. acquired a new position in shares of Day One Biopharmaceuticals during the third quarter worth approximately $39,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Day One Biopharmaceuticals by 26.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,989 shares of the company’s stock worth $46,000 after buying an additional 1,029 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in 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 buying an additional 2,264 shares during the last quarter. Quarry LP acquired a new stake in shares of Day One Biopharmaceuticals in the 3rd quarter valued at $49,000. Finally, Entropy Technologies LP acquired a new stake in shares of Day One Biopharmaceuticals in the 2nd quarter valued at $67,000. 87.95% of the stock is owned by institutional investors.

Day One Biopharmaceuticals Trading Up 0.7%

Shares of DAWN opened at $12.03 on Tuesday. The stock has a market cap of $1.24 billion, a PE ratio of -7.91 and a beta of -1.27. Day One Biopharmaceuticals has a 1 year low of $5.64 and a 1 year high of $13.53. The stock has a 50 day simple moving average of $9.42 and a 200-day simple moving average of $8.03.

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

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.