The Goldman Sachs Group Lowers Day One Biopharmaceuticals (NASDAQ:DAWN) Price Target to $27.00

Day One Biopharmaceuticals (NASDAQ:DAWN) had its price target dropped by equities researchers at The Goldman Sachs Group from $39.00 to $27.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 235.40% from the stock’s previous close.

Several other research analysts have also recently issued reports on DAWN. HC Wainwright lowered their price target on Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $32.00 price target on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lowered their price objective on shares of Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Bank of America decreased their price target on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, Wedbush reissued an “outperform” rating and issued a $32.00 price objective on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $32.29.

Day One Biopharmaceuticals Price Performance

Shares of NASDAQ:DAWN traded down $0.26 during trading on Tuesday, reaching $8.05. 186,218 shares of the company’s stock traded hands, compared to its average volume of 1,084,257. The stock has a market capitalization of $815.91 million, a P/E ratio of -7.82 and a beta of -1.38. Day One Biopharmaceuticals has a 12 month low of $7.88 and a 12 month high of $18.07. The company has a 50 day moving average of $10.90 and a 200-day moving average of $12.76.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.34). The firm had revenue of $29.21 million during the quarter, compared to analyst estimates of $27.11 million. Equities research analysts predict that Day One Biopharmaceuticals will post -0.72 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Charles N. York II sold 4,370 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $52,265.20. Following the completion of the sale, the chief financial officer now directly owns 252,638 shares of the company’s stock, valued at $3,021,550.48. This represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeremy Bender sold 12,048 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total transaction of $144,094.08. Following the transaction, the chief executive officer now directly owns 128,015 shares in the company, valued at $1,531,059.40. The trade was a 8.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,064 shares of company stock worth $251,925 over the last quarter. Corporate insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its holdings in Day One Biopharmaceuticals by 73.9% in the 4th quarter. FMR LLC now owns 12,887,467 shares of the company’s stock worth $163,284,000 after acquiring an additional 5,475,087 shares during the period. Alyeska Investment Group L.P. acquired a new stake in shares of Day One Biopharmaceuticals in the fourth quarter worth $31,829,000. Braidwell LP grew its stake in shares of Day One Biopharmaceuticals by 60.5% in the third quarter. Braidwell LP now owns 4,873,853 shares of the company’s stock worth $67,893,000 after acquiring an additional 1,837,949 shares during the last quarter. Vestal Point Capital LP increased its position in Day One Biopharmaceuticals by 100.0% during the third quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company’s stock worth $34,825,000 after acquiring an additional 1,250,000 shares during the period. Finally, Boxer Capital Management LLC acquired a new position in Day One Biopharmaceuticals during the 4th quarter valued at $15,077,000. Institutional investors and hedge funds 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.