Day One Biopharmaceuticals (NASDAQ:DAWN) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a report released on Thursday, Benzinga reports. They currently have a $33.00 price target on the stock.

Other equities analysts have also issued reports about the stock. Piper Sandler restated an “overweight” rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a report on Monday, July 8th. Wedbush reaffirmed an “outperform” rating and set a $33.00 target price on shares of Day One Biopharmaceuticals in a report on Thursday, July 25th. JPMorgan Chase & Co. lowered their price objective on Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 target price on shares of Day One Biopharmaceuticals in a report on Thursday. Finally, Bank of America upgraded shares of Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $11.00 to $24.00 in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Day One Biopharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $35.71.

Day One Biopharmaceuticals Stock Performance

Day One Biopharmaceuticals stock opened at $14.65 on Thursday. The firm’s fifty day moving average price is $14.19 and its 200-day moving average price is $14.39. Day One Biopharmaceuticals has a fifty-two week low of $10.90 and a fifty-two week high of $18.07. The stock has a market cap of $1.29 billion, a P/E ratio of -14.22 and a beta of -1.51.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.58. The firm had revenue of $93.76 million during the quarter, compared to the consensus estimate of $15.05 million. During the same period last year, the business earned ($0.54) EPS. On average, analysts predict that Day One Biopharmaceuticals will post -1.65 earnings per share for the current year.

Insider Activity

In other news, CEO Jeremy Bender sold 10,681 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $14.00, for a total value of $149,534.00. Following the completion of the transaction, the chief executive officer now owns 98,932 shares of the company’s stock, valued at $1,385,048. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Samuel C. Blackman sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $14.22, for a total transaction of $426,600.00. Following the completion of the sale, the insider now directly owns 1,097,535 shares in the company, valued at approximately $15,606,947.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeremy Bender sold 10,681 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $14.00, for a total transaction of $149,534.00. Following the sale, the chief executive officer now directly owns 98,932 shares of the company’s stock, valued at approximately $1,385,048. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,748 shares of company stock valued at $689,072. Company insiders own 8.40% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Day One Biopharmaceuticals by 38.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,611 shares of the company’s stock valued at $51,000 after purchasing an additional 1,002 shares during the last quarter. SG Americas Securities LLC acquired a new position in Day One Biopharmaceuticals in the second quarter valued at about $113,000. Point72 DIFC Ltd acquired a new position in Day One Biopharmaceuticals in the second quarter valued at about $124,000. Hsbc Holdings PLC purchased a new position in Day One Biopharmaceuticals during the second quarter worth about $163,000. Finally, SteelPeak Wealth LLC acquired a new stake in shares of Day One Biopharmaceuticals during the second quarter valued at about $218,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

About Day One Biopharmaceuticals

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.