Day One Biopharmaceuticals (NASDAQ:DAWN) Price Target Raised to $26.00

Day One Biopharmaceuticals (NASDAQ:DAWN) had its price target upped by equities research analysts at Piper Sandler from $25.00 to $26.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Piper Sandler’s price objective indicates a potential upside of 215.08% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Needham & Company LLC cut their target price on shares of Day One Biopharmaceuticals from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research note on Thursday, October 30th. Zacks Research raised shares of Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Finally, HC Wainwright dropped their price target on shares of Day One Biopharmaceuticals from $36.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Day One Biopharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $25.43.

Day One Biopharmaceuticals Stock Up 13.0%

Shares of DAWN stock traded up $0.95 during mid-day trading on Wednesday, reaching $8.25. The company’s stock had a trading volume of 1,946,647 shares, compared to its average volume of 1,366,614. The company’s 50 day simple moving average is $7.28 and its 200-day simple moving average is $6.93. Day One Biopharmaceuticals has a 12-month low of $5.64 and a 12-month high of $16.76. The firm has a market capitalization of $845.27 million, a PE ratio of -8.66 and a beta of -1.25.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its earnings results on Tuesday, November 4th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.09. Day One Biopharmaceuticals had a negative net margin of 50.63% and a negative return on equity of 19.01%. The business had revenue of $39.80 million for the quarter, compared to the consensus estimate of $38.20 million. During the same quarter last year, the firm posted $0.38 EPS. The business’s revenue for the quarter was down 57.6% compared to the same quarter last year. As a group, research analysts anticipate that Day One Biopharmaceuticals will post -0.72 EPS for the current fiscal year.

Insider Activity at Day One Biopharmaceuticals

In other news, insider Adam Dubow sold 4,365 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $6.77, for a total value of $29,551.05. Following the sale, the insider owned 54,858 shares in the company, valued at approximately $371,388.66. This represents a 7.37% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeremy Bender sold 16,058 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $6.77, for a total transaction of $108,712.66. Following the completion of the sale, the chief executive officer owned 161,365 shares in the company, valued at approximately $1,092,441.05. This trade represents a 9.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 28,295 shares of company stock worth $191,557. Company insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Day One Biopharmaceuticals

A number of institutional investors have recently modified their holdings of DAWN. Alyeska Investment Group L.P. raised its stake in shares of Day One Biopharmaceuticals by 61.6% in the 1st quarter. Alyeska Investment Group L.P. now owns 4,059,764 shares of the company’s stock valued at $32,194,000 after purchasing an additional 1,547,577 shares in the last quarter. AIGH Capital Management LLC acquired a new stake in shares of Day One Biopharmaceuticals in the 3rd quarter valued at about $10,719,000. Vestal Point Capital LP raised its stake in shares of Day One Biopharmaceuticals by 80.4% in the 1st quarter. Vestal Point Capital LP now owns 2,598,127 shares of the company’s stock valued at $20,603,000 after purchasing an additional 1,158,127 shares in the last quarter. Millennium Management LLC grew its position in shares of Day One Biopharmaceuticals by 587.2% during the 1st quarter. Millennium Management LLC now owns 1,320,095 shares of the company’s stock valued at $10,468,000 after buying an additional 1,127,995 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Day One Biopharmaceuticals by 232.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,569,918 shares of the company’s stock valued at $12,449,000 after buying an additional 1,097,679 shares during the last quarter. 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.