Day One Biopharmaceuticals (NASDAQ:DAWN) Given New $27.00 Price Target at JPMorgan Chase & Co.

Day One Biopharmaceuticals (NASDAQ:DAWN) had its price target boosted by JPMorgan Chase & Co. from $26.00 to $27.00 in a research report released on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

DAWN has been the topic of several other research reports. Zacks Research raised Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Needham & Company LLC lowered 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. HC Wainwright dropped their target price on shares of Day One Biopharmaceuticals from $36.00 to $25.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a report on Thursday, October 30th. Finally, Piper Sandler raised their price objective on shares of Day One Biopharmaceuticals from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.43.

Day One Biopharmaceuticals Stock Performance

NASDAQ DAWN traded up $0.74 on Friday, hitting $9.73. The stock had a trading volume of 5,792,996 shares, compared to its average volume of 2,011,434. The firm has a 50-day moving average of $7.38 and a 200-day moving average of $6.98. Day One Biopharmaceuticals has a 52-week low of $5.64 and a 52-week high of $16.76. The company has a market capitalization of $999.04 million, a price-to-earnings ratio of -6.40 and a beta of -1.25.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly 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 113.53% and a negative return on equity of 32.05%. The firm had revenue of $39.80 million during the quarter, compared to analyst estimates of $38.20 million. During the same period in the previous year, the business earned $0.38 EPS. The business’s revenue for the quarter was down 57.6% on a year-over-year basis. As a group, research analysts anticipate that Day One Biopharmaceuticals will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Day One Biopharmaceuticals

In other news, insider Lauren Merendino sold 3,766 shares of Day One Biopharmaceuticals stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $6.77, for a total value of $25,495.82. Following the transaction, the insider owned 41,931 shares in the company, valued at approximately $283,872.87. The trade was a 8.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Adam Dubow sold 4,365 shares of the business’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 completion of the sale, the insider directly owned 54,858 shares of the company’s stock, valued at approximately $371,388.66. This trade represents a 7.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,295 shares of company stock worth $191,557 in the last quarter. 6.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Day One Biopharmaceuticals

A number of large investors have recently bought and sold shares of DAWN. Alyeska Investment Group L.P. boosted its stake in shares of Day One Biopharmaceuticals by 61.6% during the first 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 during the period. AIGH Capital Management LLC bought a new stake in Day One Biopharmaceuticals during the 3rd quarter valued at $10,719,000. Vestal Point Capital LP raised its holdings in Day One Biopharmaceuticals by 80.4% during the 1st quarter. Vestal Point Capital LP now owns 2,598,127 shares of the company’s stock valued at $20,603,000 after buying an additional 1,158,127 shares during the last quarter. Millennium Management LLC boosted its position in 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 period. Finally, Goldman Sachs Group Inc. grew its holdings in Day One Biopharmaceuticals by 232.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,569,918 shares of the company’s stock worth $12,449,000 after acquiring an additional 1,097,679 shares during the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

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.