Brokerages Set Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Price Target at $30.57

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) have been assigned a consensus rating of “Buy” from the eight brokerages that are presently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $30.57.

Several equities analysts have issued reports on DAWN shares. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 price target on shares of Day One Biopharmaceuticals in a report on Thursday, April 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, March 5th. The Goldman Sachs Group dropped their price objective on shares of Day One Biopharmaceuticals from $39.00 to $27.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Needham & Company LLC dropped their price objective on shares of Day One Biopharmaceuticals from $30.00 to $27.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Finally, Wedbush reissued an “outperform” rating and set a $25.00 price objective on shares of Day One Biopharmaceuticals in a report on Wednesday, May 7th.

Day One Biopharmaceuticals Stock Performance

NASDAQ DAWN opened at $6.27 on Thursday. The firm’s fifty day simple moving average is $7.19 and its two-hundred day simple moving average is $10.39. Day One Biopharmaceuticals has a 12-month low of $6.08 and a 12-month high of $16.76. The firm has a market capitalization of $635.54 million, a P/E ratio of -6.09 and a beta of -1.24.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.46) by $0.11. The firm had revenue of $30.76 million during the quarter, compared to analysts’ expectations of $30.28 million. As a group, sell-side analysts predict that Day One Biopharmaceuticals will post -0.72 earnings per share for the current fiscal year.

Insider Activity at Day One Biopharmaceuticals

In related news, CFO Charles N. York II sold 4,282 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.26, for a total transaction of $26,805.32. Following the completion of the transaction, the chief financial officer now directly owns 265,231 shares in the company, valued at $1,660,346.06. The trade was a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeremy Bender sold 13,964 shares of the business’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.26, for a total transaction of $87,414.64. Following the transaction, the chief executive officer now owns 145,737 shares of the company’s stock, valued at $912,313.62. This represents a 8.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,725 shares of company stock worth $167,299 over the last three months. Company insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. FMR LLC raised its position in shares of Day One Biopharmaceuticals by 73.9% in the fourth quarter. FMR LLC now owns 12,887,467 shares of the company’s stock worth $163,284,000 after acquiring an additional 5,475,087 shares during the period. Vanguard Group Inc. raised its position in shares of Day One Biopharmaceuticals by 1.6% in the first quarter. Vanguard Group Inc. now owns 5,943,243 shares of the company’s stock worth $47,130,000 after acquiring an additional 94,320 shares during the period. Alyeska Investment Group L.P. raised its position in shares of Day One Biopharmaceuticals by 61.6% in the first quarter. Alyeska Investment Group L.P. now owns 4,059,764 shares of the company’s stock worth $32,194,000 after acquiring an additional 1,547,577 shares during the period. Franklin Resources Inc. raised its position in shares of Day One Biopharmaceuticals by 0.3% in the fourth quarter. Franklin Resources Inc. now owns 3,882,952 shares of the company’s stock worth $49,197,000 after acquiring an additional 13,320 shares during the period. Finally, Estuary Capital Management LP raised its position in shares of Day One Biopharmaceuticals by 35.5% in the fourth quarter. Estuary Capital Management LP now owns 3,716,777 shares of the company’s stock worth $47,092,000 after acquiring an additional 972,997 shares during the period. Institutional investors and hedge funds 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.