Day One Biopharmaceuticals (NASDAQ:DAWN) Earns “Outperform” Rating from Wedbush

Day One Biopharmaceuticals (NASDAQ:DAWN)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a note issued to investors on Wednesday, RTT News reports. They presently have a $33.00 price objective on the stock. Wedbush’s target price would indicate a potential upside of 149.81% from the stock’s current price.

Several other research analysts have also recently commented on the stock. Needham & Company LLC upped their target price on shares of Day One Biopharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday. JPMorgan Chase & Co. increased their price objective on shares of Day One Biopharmaceuticals from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Monday. Piper Sandler reiterated an “overweight” rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a report on Tuesday, March 26th. HC Wainwright reiterated a “buy” rating and issued a $50.00 price objective on shares of Day One Biopharmaceuticals in a report on Wednesday. Finally, Oppenheimer reiterated a “market perform” rating on shares of Day One Biopharmaceuticals in a report on Tuesday, February 27th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Day One Biopharmaceuticals has an average rating of “Moderate Buy” and an average price target of $39.33.

Day One Biopharmaceuticals Trading Down 13.0 %

NASDAQ DAWN opened at $13.21 on Wednesday. Day One Biopharmaceuticals has a 52 week low of $9.67 and a 52 week high of $17.85. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of -5.55 and a beta of -1.48. The company has a 50-day moving average price of $15.23 and a two-hundred day moving average price of $13.79.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its earnings results on Monday, February 26th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.07). As a group, equities 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, insider Samuel C. Blackman sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $16.02, for a total transaction of $160,200.00. Following the completion of the sale, the insider now directly owns 1,174,662 shares of the company’s stock, valued at $18,818,085.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Samuel C. Blackman sold 10,000 shares of the stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $16.02, for a total transaction of $160,200.00. Following the completion of the sale, the insider now directly owns 1,174,662 shares of the company’s stock, valued at $18,818,085.24. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Charles N. York II sold 2,666 shares of the 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 $40,656.50. Following the sale, the chief financial officer now directly owns 277,754 shares of the company’s stock, valued at $4,235,748.50. The disclosure for this sale can be found here. Insiders sold a total of 55,781 shares of company stock valued at $883,160 over the last ninety days. Insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Several hedge funds have recently made changes to their positions in DAWN. First Turn Management LLC purchased a new stake in shares of Day One Biopharmaceuticals in the 4th quarter valued at approximately $24,834,000. TimesSquare Capital Management LLC lifted its position in shares of Day One Biopharmaceuticals by 45.8% in the 4th quarter. TimesSquare Capital Management LLC now owns 1,666,065 shares of the company’s stock valued at $24,325,000 after acquiring an additional 523,455 shares in the last quarter. Braidwell LP lifted its position in shares of Day One Biopharmaceuticals by 13.5% in the 4th quarter. Braidwell LP now owns 4,215,573 shares of the company’s stock valued at $61,547,000 after acquiring an additional 500,000 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Day One Biopharmaceuticals by 28.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,118,849 shares of the company’s stock valued at $30,935,000 after acquiring an additional 472,654 shares in the last quarter. Finally, Superstring Capital Management LP purchased a new stake in shares of Day One Biopharmaceuticals in the 4th quarter valued at approximately $5,543,000. Hedge funds and other institutional investors 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.