Day One Biopharmaceuticals (NASDAQ:DAWN) Price Target Cut to $25.00 by Analysts at Bank of America

Day One Biopharmaceuticals (NASDAQ:DAWN) had its target price cut by stock analysts at Bank of America from $28.00 to $25.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price target would suggest a potential upside of 100.00% from the stock’s current price.

DAWN has been the subject of several other reports. Needham & Company LLC reissued a “buy” rating and issued a $33.00 price objective on shares of Day One Biopharmaceuticals in a research report on Thursday, October 31st. HC Wainwright restated a “buy” rating and set a $40.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. Finally, TD Cowen upgraded shares of Day One Biopharmaceuticals to a “strong-buy” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $35.86.

Day One Biopharmaceuticals Price Performance

Shares of Day One Biopharmaceuticals stock traded up $0.30 during trading hours on Tuesday, reaching $12.50. The company’s stock had a trading volume of 290,853 shares, compared to its average volume of 723,660. The stock has a market cap of $1.26 billion, a P/E ratio of -12.14 and a beta of -1.46. Day One Biopharmaceuticals has a one year low of $11.94 and a one year high of $18.07. The firm has a 50 day moving average price of $13.63 and a 200-day moving average price of $14.01.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of ($0.20) by $0.58. The firm had revenue of $93.76 million for the quarter, compared to the consensus estimate of $15.05 million. During the same quarter in the previous year, the company posted ($0.54) earnings per share. As a group, sell-side analysts forecast that Day One Biopharmaceuticals will post -0.88 EPS for the current fiscal year.

Insider Activity

In related news, insider Samuel C. Blackman sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $16.10, for a total value of $161,000.00. Following the transaction, the insider now directly owns 1,057,535 shares of the company’s stock, valued at approximately $17,026,313.50. This trade represents a 0.94 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold a total of 51,745 shares of company stock valued at $748,567 in the last quarter. 8.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Turn Management LLC purchased a new stake in Day One Biopharmaceuticals during the 3rd quarter valued at about $13,204,000. GSA Capital Partners LLP purchased a new stake in Day One Biopharmaceuticals in the third quarter valued at $825,000. Algert Global LLC boosted its stake in Day One Biopharmaceuticals by 248.8% during the third quarter. Algert Global LLC now owns 71,487 shares of the company’s stock worth $996,000 after buying an additional 50,990 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Day One Biopharmaceuticals by 14.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 507,448 shares of the company’s stock valued at $7,069,000 after purchasing an additional 64,700 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Day One Biopharmaceuticals by 10.5% in the third quarter. Geode Capital Management LLC now owns 1,432,697 shares of the company’s stock valued at $19,961,000 after purchasing an additional 136,458 shares during the period. 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.