Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Receives $35.71 Average Target Price from Analysts

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) has been given an average rating of “Buy” by the nine research firms that are covering the firm, Marketbeat Ratings reports. 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 on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $35.71.

Several research analysts recently weighed in on the stock. Bank of America cut their target price on shares of 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. Needham & Company LLC reissued a “buy” rating and issued a $33.00 target price on shares of Day One Biopharmaceuticals in a research note on Monday, January 13th. HC Wainwright reissued a “buy” rating and issued a $40.00 target price on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. The Goldman Sachs Group lowered their price target on Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, TD Cowen upgraded Day One Biopharmaceuticals to a “strong-buy” rating in a report on Monday, November 4th.

Insider Buying and Selling

In related news, insider Samuel C. Blackman sold 30,000 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $13.31, for a total transaction of $399,300.00. Following the completion of the sale, the insider now owns 1,034,015 shares of the company’s stock, valued at approximately $13,762,739.65. This represents a 2.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 8.40% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of DAWN. FMR LLC increased its position in Day One Biopharmaceuticals by 73.9% during the 4th quarter. FMR LLC now owns 12,887,467 shares of the company’s stock worth $163,284,000 after purchasing an additional 5,475,087 shares in the last quarter. Braidwell LP grew its position in Day One Biopharmaceuticals by 60.5% in the third quarter. Braidwell LP now owns 4,873,853 shares of the company’s stock valued at $67,893,000 after acquiring an additional 1,837,949 shares in the last quarter. Vestal Point Capital LP grew its position in Day One Biopharmaceuticals by 100.0% in the third quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company’s stock valued at $34,825,000 after acquiring an additional 1,250,000 shares in the last quarter. Boxer Capital Management LLC acquired a new stake in Day One Biopharmaceuticals in the fourth quarter valued at approximately $15,077,000. Finally, Marshall Wace LLP acquired a new stake in Day One Biopharmaceuticals in the fourth quarter valued at approximately $13,909,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

Day One Biopharmaceuticals Trading Up 0.4 %

Shares of DAWN stock opened at $12.26 on Tuesday. The firm has a 50-day moving average price of $12.47 and a 200 day moving average price of $13.53. Day One Biopharmaceuticals has a twelve month low of $11.13 and a twelve month high of $18.07. The company has a market capitalization of $1.24 billion, a price-to-earnings ratio of -11.90 and a beta of -1.46.

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.