Brokerages Set Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) PT at $24.43

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) has been given a consensus rating of “Moderate Buy” by the eight brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $24.3333.

A number of analysts have weighed in on DAWN shares. JPMorgan Chase & Co. upped 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. HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of Day One Biopharmaceuticals in a research report on Monday, November 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research note on Monday, December 29th. Zacks Research upgraded Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Finally, Piper Sandler boosted 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.

Insider Activity

In related news, insider Adam Dubow sold 4,319 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $8.91, for a total transaction of $38,482.29. Following the completion of the sale, the insider owned 62,626 shares of the company’s stock, valued at $557,997.66. This represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lauren Merendino sold 3,726 shares of Day One Biopharmaceuticals stock in a transaction on Monday, November 17th. The stock was sold at an average price of $8.91, for a total transaction of $33,198.66. Following the completion of the transaction, the insider directly owned 50,809 shares in the company, valued at $452,708.19. This represents a 6.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 28,001 shares of company stock worth $249,489. Insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Schroder Investment Management Group purchased a new position in Day One Biopharmaceuticals in the 2nd quarter worth $1,171,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Day One Biopharmaceuticals in the first quarter valued at about $384,000. Ieq Capital LLC purchased a new position in shares of Day One Biopharmaceuticals in the first quarter worth about $294,000. Geode Capital Management LLC raised its stake in shares of Day One Biopharmaceuticals by 11.2% in the second quarter. Geode Capital Management LLC now owns 1,712,429 shares of the company’s stock worth $11,132,000 after purchasing an additional 171,964 shares during the last quarter. Finally, Parkman Healthcare Partners LLC lifted its holdings in shares of Day One Biopharmaceuticals by 4.3% during the first quarter. Parkman Healthcare Partners LLC now owns 1,043,162 shares of the company’s stock worth $8,272,000 after purchasing an additional 42,688 shares during the period. 87.95% of the stock is owned by institutional investors and hedge funds.

Day One Biopharmaceuticals Price Performance

NASDAQ:DAWN opened at $9.25 on Friday. Day One Biopharmaceuticals has a 1-year low of $5.64 and a 1-year high of $13.53. The company has a 50-day moving average of $8.91 and a 200 day moving average of $7.64. The firm has a market cap of $949.79 million, a PE ratio of -6.09 and a beta of -1.27.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.09. Day One Biopharmaceuticals had a negative net margin of 113.53% and a negative return on equity of 32.05%. The business had revenue of $39.80 million during the quarter, compared to analyst estimates of $38.20 million. During the same quarter in the previous year, the business posted $0.38 EPS. The company’s quarterly revenue was down 57.6% compared to the same quarter last year. Sell-side analysts anticipate 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.