Day One Biopharmaceuticals (NASDAQ:DAWN) Upgraded at Zacks Research

Zacks Research upgraded shares of Day One Biopharmaceuticals (NASDAQ:DAWN) from a hold rating to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

Several other research analysts also recently commented on the stock. Piper Sandler lifted their target price on shares of Day One Biopharmaceuticals from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. JPMorgan Chase & Co. boosted their price objective on Day One Biopharmaceuticals from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. TD Cowen initiated coverage on Day One Biopharmaceuticals in a research note on Tuesday, January 13th. They set a “buy” rating and a $34.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research report on Monday, December 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $16.00 price objective on shares of Day One Biopharmaceuticals in a research report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.71.

Day One Biopharmaceuticals Stock Performance

DAWN opened at $11.78 on Monday. The company has a market cap of $1.21 billion, a PE ratio of -7.75 and a beta of -1.27. The stock has a 50-day moving average of $9.57 and a 200-day moving average of $8.10. Day One Biopharmaceuticals has a 52-week low of $5.64 and a 52-week high of $13.38.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its earnings results on Tuesday, November 4th. The company reported ($0.19) earnings per share (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 firm had revenue of $39.80 million during the quarter, compared to analysts’ expectations of $38.20 million. During the same quarter in the prior year, the business earned $0.38 earnings per share. The company’s revenue was down 57.6% on a year-over-year basis. On average, research analysts predict that Day One Biopharmaceuticals will post -0.72 earnings per share for the current year.

Insider Transactions at Day One Biopharmaceuticals

In related news, insider Lauren Merendino sold 3,726 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 $33,198.66. Following the completion of the transaction, the insider directly owned 50,809 shares in the company, valued at approximately $452,708.19. This represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeremy Bender sold 15,894 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $8.91, for a total transaction of $141,615.54. Following the completion of the sale, the chief executive officer directly owned 177,165 shares in the company, valued at $1,578,540.15. This trade represents a 8.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 28,001 shares of company stock valued at $249,489. Company insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Day One Biopharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in DAWN. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Day One Biopharmaceuticals by 59.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,520 shares of the company’s stock worth $359,000 after buying an additional 14,425 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Day One Biopharmaceuticals by 26.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,989 shares of the company’s stock worth $46,000 after acquiring an additional 1,029 shares in the last quarter. CWM LLC boosted its stake in shares of Day One Biopharmaceuticals by 32.4% in the 4th quarter. CWM LLC now owns 8,373 shares of the company’s stock valued at $78,000 after purchasing an additional 2,051 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Day One Biopharmaceuticals in the 4th quarter worth about $1,407,000. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of Day One Biopharmaceuticals by 229.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 313,455 shares of the company’s stock worth $2,921,000 after purchasing an additional 218,383 shares during the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

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.