Day One Biopharmaceuticals (NASDAQ:DAWN) Sees Large Volume Increase Following Analyst Upgrade

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) saw strong trading volume on Wednesday after Needham & Company LLC raised their price target on the stock from $30.00 to $33.00. Needham & Company LLC currently has a buy rating on the stock. 1,343,090 shares traded hands during mid-day trading, an increase of 85% from the previous session’s volume of 726,171 shares.The stock last traded at $15.66 and had previously closed at $16.64.

DAWN has been the subject of several other research reports. Piper Sandler restated an “overweight” rating and set a $40.00 price target on shares of Day One Biopharmaceuticals in a research note on Tuesday, March 26th. The Goldman Sachs Group decreased their price target on shares of Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. JPMorgan Chase & Co. raised their price target on shares of Day One Biopharmaceuticals from $32.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Oppenheimer restated a “market perform” rating on shares of Day One Biopharmaceuticals in a research note on Tuesday, February 27th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $39.33.

Insider Buying and Selling at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, CFO Charles N. York II sold 2,666 shares of the firm’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $15.25, for a total value of $40,656.50. Following the completion of the transaction, the chief financial officer now directly owns 277,754 shares of the company’s stock, valued at approximately $4,235,748.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Samuel C. Blackman sold 2,258 shares of Day One Biopharmaceuticals stock in a transaction on Friday, February 16th. The shares were sold at an average price of $15.25, for a total transaction of $34,434.50. Following the completion of the sale, the insider now directly owns 1,244,662 shares of the company’s stock, valued at approximately $18,981,095.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Charles N. York II sold 2,666 shares of Day One Biopharmaceuticals stock in a transaction on Friday, February 16th. The stock was 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 in the last three months. Company insiders own 8.40% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

A number of hedge funds have recently made changes to their positions in DAWN. China Universal Asset Management Co. Ltd. raised its position in Day One Biopharmaceuticals by 130.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,226 shares of the company’s stock worth $27,000 after purchasing an additional 1,262 shares during the period. Quest Partners LLC purchased a new position in Day One Biopharmaceuticals in the 4th quarter worth $29,000. Quintet Private Bank Europe S.A. raised its position in Day One Biopharmaceuticals by 43.2% in the 4th quarter. Quintet Private Bank Europe S.A. now owns 3,313 shares of the company’s stock worth $48,000 after purchasing an additional 1,000 shares during the period. Amalgamated Bank raised its position in Day One Biopharmaceuticals by 35.7% in the 3rd quarter. Amalgamated Bank now owns 8,628 shares of the company’s stock worth $106,000 after purchasing an additional 2,268 shares during the period. Finally, Exchange Traded Concepts LLC raised its position in Day One Biopharmaceuticals by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 10,072 shares of the company’s stock worth $147,000 after purchasing an additional 2,554 shares during the period. 87.95% of the stock is owned by institutional investors.

Day One Biopharmaceuticals Stock Performance

The company has a market cap of $1.15 billion, a PE ratio of -5.55 and a beta of -1.48. The business’s 50-day moving average is $15.23 and its 200 day moving average is $13.79.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its earnings results on Monday, February 26th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). Equities research analysts anticipate that Day One Biopharmaceuticals, Inc. will post -2.66 EPS for the current fiscal year.

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.