Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) have received an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $25.7143.

Several research firms have recently commented on DAWN. Piper Sandler boosted their price objective on Day One Biopharmaceuticals from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Zacks Research upgraded shares of Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Needham & Company LLC restated a “buy” rating and set a $16.00 price objective on shares of Day One Biopharmaceuticals in a report on Monday, November 24th. TD Cowen began coverage on shares of Day One Biopharmaceuticals in a research report on Tuesday, January 13th. They set a “buy” rating and a $34.00 target price for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research report on Monday, December 29th.

Day One Biopharmaceuticals Trading Up 3.0%

NASDAQ:DAWN opened at $11.50 on Tuesday. Day One Biopharmaceuticals has a 12 month low of $5.64 and a 12 month high of $13.20. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -7.57 and a beta of -1.26. The firm has a fifty day simple moving average of $9.73 and a two-hundred day simple moving average of $8.20.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings data 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 net margin of 113.53% and a negative return on equity of 32.05%. The company had revenue of $39.80 million for the quarter, compared to analysts’ expectations of $38.20 million. During the same quarter in the prior year, the firm earned $0.38 EPS. The business’s revenue was down 57.6% on a year-over-year basis. Equities analysts predict that Day One Biopharmaceuticals will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jeremy Bender sold 15,894 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $8.91, for a total transaction of $141,615.54. Following the transaction, the chief executive officer owned 177,165 shares of the company’s stock, valued at $1,578,540.15. The trade was a 8.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Adam Dubow sold 4,319 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $8.91, for a total value of $38,482.29. Following the completion of the sale, the insider directly owned 62,626 shares of the company’s stock, valued at $557,997.66. The trade was a 6.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,001 shares of company stock worth $249,489 over the last three months. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Hedge funds have recently modified their holdings of the company. Rubric Capital Management LP bought a new position in shares of Day One Biopharmaceuticals in the third quarter valued at approximately $23,808,000. AIGH Capital Management LLC purchased a new position in Day One Biopharmaceuticals in the third quarter worth $10,719,000. Mak Capital One LLC purchased a new position in Day One Biopharmaceuticals in the third quarter worth $10,212,000. Balyasny Asset Management L.P. bought a new position in Day One Biopharmaceuticals in the 3rd quarter valued at $9,758,000. Finally, Millennium Management LLC increased its position in shares of Day One Biopharmaceuticals by 587.2% during the 1st quarter. Millennium Management LLC now owns 1,320,095 shares of the company’s stock valued at $10,468,000 after purchasing an additional 1,127,995 shares during the last quarter. Institutional investors own 87.95% of the company’s stock.

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.