Piper Sandler Reaffirms Overweight Rating for Day One Biopharmaceuticals (NASDAQ:DAWN)

Piper Sandler reiterated their overweight rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a research note released on Tuesday, Benzinga reports. Piper Sandler currently has a $40.00 price target on the stock.

Several other research analysts have also recently issued reports on DAWN. Oppenheimer reaffirmed a market perform rating on shares of Day One Biopharmaceuticals in a report on Tuesday, February 27th. The Goldman Sachs Group reduced their price target on shares of Day One Biopharmaceuticals from $50.00 to $44.00 and set a buy rating for the company in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. According to MarketBeat, Day One Biopharmaceuticals currently has a consensus rating of Moderate Buy and an average target price of $40.60.

Day One Biopharmaceuticals Price Performance

Shares of NASDAQ DAWN opened at $16.52 on Tuesday. The stock has a market cap of $1.44 billion, a P/E ratio of -6.94 and a beta of -1.48. Day One Biopharmaceuticals has a 1 year low of $9.67 and a 1 year high of $17.85. The firm has a 50-day moving average of $15.16 and a 200 day moving average of $13.54.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its earnings results on Monday, February 26th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). Research analysts expect that Day One Biopharmaceuticals will post -2.66 earnings per share for the current fiscal year.

Insider Activity at Day One Biopharmaceuticals

In related news, General Counsel Adam Dubow sold 3,242 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.25, for a total transaction of $49,440.50. Following the completion of the sale, the general counsel now directly owns 16,585 shares in the company, valued at $252,921.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Day One Biopharmaceuticals news, General Counsel Adam Dubow sold 3,242 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.25, for a total value of $49,440.50. Following the completion of the transaction, the general counsel now directly owns 16,585 shares in the company, valued at $252,921.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Samuel C. Blackman sold 2,258 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.25, for a total transaction of $34,434.50. Following the completion of the transaction, the insider now owns 1,244,662 shares of the company’s stock, valued at $18,981,095.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,781 shares of company stock worth $722,960. 8.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System lifted its holdings in shares of Day One Biopharmaceuticals by 1.4% in the fourth quarter. California State Teachers Retirement System now owns 52,923 shares of the company’s stock worth $773,000 after buying an additional 731 shares in the last quarter. Laurion Capital Management LP increased its position in Day One Biopharmaceuticals by 5.4% during the 4th quarter. Laurion Capital Management LP now owns 15,000 shares of the company’s stock valued at $323,000 after purchasing an additional 763 shares during the period. Arizona State Retirement System grew its position in shares of Day One Biopharmaceuticals by 8.8% in the 3rd quarter. Arizona State Retirement System now owns 12,363 shares of the company’s stock worth $152,000 after buying an additional 995 shares during the last quarter. Quintet Private Bank Europe S.A. boosted its stake in Day One Biopharmaceuticals by 43.2% in the 4th quarter. Quintet Private Bank Europe S.A. now owns 3,313 shares of the company’s stock worth $48,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Parkwood LLC boosted its stake in Day One Biopharmaceuticals by 5.3% in the 1st quarter. Parkwood LLC now owns 20,381 shares of the company’s stock worth $272,000 after purchasing an additional 1,028 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Day One Biopharmaceuticals Company Profile

Day One Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops and commercializes targeted therapies for patients with genomically defined cancers. Its lead product candidate is tovorafenib, an oral brain-penetrant type II pan-rapidly accelerated fibrosarcoma kinase inhibitor that is in Phase II clinical trial for pediatric patients with relapsed/ refractory low-grade glioma.