Day One Biopharmaceuticals (NASDAQ:DAWN) Trading 8.4% Higher – Still a Buy?

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s stock price traded up 8.4% during mid-day trading on Friday . The company traded as high as $8.06 and last traded at $8.05. 1,019,388 shares were traded during mid-day trading, a decline of 24% from the average session volume of 1,340,668 shares. The stock had previously closed at $7.43.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Day One Biopharmaceuticals in a research report on Saturday, September 27th. Piper Sandler initiated coverage on Day One Biopharmaceuticals in a research report on Monday, August 18th. They issued an “overweight” rating and a $25.00 target price on the stock. HC Wainwright lowered their price target on Day One Biopharmaceuticals from $36.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Finally, Needham & Company LLC lowered their price target on Day One Biopharmaceuticals from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $25.29.

Day One Biopharmaceuticals Stock Up 7.0%

The firm has a market capitalization of $814.32 million, a P/E ratio of -8.37 and a beta of -1.26. The firm has a 50 day moving average of $6.97 and a 200-day moving average of $6.96.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.06. The business had revenue of $33.91 million during the quarter, compared to analysts’ expectations of $35.55 million. Day One Biopharmaceuticals had a negative return on equity of 19.01% and a negative net margin of 50.63%. As a group, research analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Insider Buying and Selling

In related news, CFO Charles N. York II sold 4,106 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $6.77, for a total value of $27,797.62. Following the completion of the sale, the chief financial officer directly owned 278,000 shares in the company, valued at approximately $1,882,060. The trade was a 1.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jeremy Bender sold 16,058 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $6.77, for a total value of $108,712.66. Following the sale, the chief executive officer owned 161,365 shares of the company’s stock, valued at $1,092,441.05. The trade was a 9.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,295 shares of company stock valued at $191,557. 6.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in DAWN. Ameritas Investment Partners Inc. lifted its stake in Day One Biopharmaceuticals by 44.5% during the second quarter. Ameritas Investment Partners Inc. now owns 7,349 shares of the company’s stock worth $48,000 after purchasing an additional 2,264 shares during the last quarter. Entropy Technologies LP bought a new stake in Day One Biopharmaceuticals during the second quarter worth $67,000. Prudential Financial Inc. bought a new stake in Day One Biopharmaceuticals during the second quarter worth $69,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Day One Biopharmaceuticals during the second quarter worth $76,000. Finally, Quantbot Technologies LP bought a new stake in Day One Biopharmaceuticals during the first quarter worth $82,000. 87.95% of the stock is currently owned by 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.