Day One Biopharmaceuticals (NASDAQ:DAWN) Coverage Initiated at TD Cowen

Equities research analysts at TD Cowen initiated coverage on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a research note issued on Tuesday. The firm set a “buy” rating and a $34.00 price target on the stock. TD Cowen’s price objective would suggest a potential upside of 210.08% from the company’s previous close.

Several other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. upped their target price on shares of Day One Biopharmaceuticals from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. HC Wainwright restated a “buy” rating and issued a $25.00 price target on shares of Day One Biopharmaceuticals in a research note on Monday, November 24th. Piper Sandler increased their price objective on Day One Biopharmaceuticals from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Day One Biopharmaceuticals in a report on Monday, November 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Day One Biopharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $25.71.

Day One Biopharmaceuticals Stock Performance

Shares of NASDAQ DAWN traded down $0.37 during trading on Tuesday, reaching $10.97. The stock had a trading volume of 943,716 shares, compared to its average volume of 2,308,276. The company has a market cap of $1.13 billion, a P/E ratio of -7.26 and a beta of -1.27. Day One Biopharmaceuticals has a fifty-two week low of $5.64 and a fifty-two week high of $13.53. The business’s 50-day moving average price is $9.02 and its 200-day moving average price is $7.71.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced 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. The company had revenue of $39.80 million during the quarter, compared to analysts’ expectations of $38.20 million. Day One Biopharmaceuticals had a negative return on equity of 32.05% and a negative net margin of 113.53%.Day One Biopharmaceuticals’s revenue for the quarter was down 57.6% on a year-over-year basis. During the same period last year, the business posted $0.38 EPS. Analysts forecast that Day One Biopharmaceuticals will post -0.72 EPS for the current fiscal year.

Insider Transactions at Day One Biopharmaceuticals

In other news, CFO Charles N. York II sold 4,062 shares of Day One Biopharmaceuticals stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $8.91, for a total transaction of $36,192.42. Following the sale, the chief financial officer owned 294,715 shares in the company, valued at approximately $2,625,910.65. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jeremy Bender sold 15,894 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $8.91, for a total value of $141,615.54. Following the completion of the sale, the chief executive officer directly owned 177,165 shares of the company’s stock, valued at $1,578,540.15. The trade was a 8.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 28,001 shares of company stock worth $249,489. 6.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Institutional investors have recently modified their holdings of the business. Federated Hermes Inc. acquired a new stake in shares of Day One Biopharmaceuticals during the third quarter worth about $39,000. Quarry LP acquired a new position in shares of Day One Biopharmaceuticals in the third quarter valued at approximately $49,000. Ameritas Investment Partners Inc. raised its stake in shares of 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 purchased a new position in Day One Biopharmaceuticals in the 2nd quarter valued at $67,000. Finally, Prudential Financial Inc. acquired a new position in Day One Biopharmaceuticals in the 2nd quarter valued at $69,000. 87.95% of the stock is owned by institutional investors and hedge funds.

Day One Biopharmaceuticals Company Profile

Day One Biopharmaceuticals, Inc (NASDAQ: DAWN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted therapies for oncology. The company employs a precision medicine approach, leveraging biomarker-driven strategies to identify patient populations most likely to respond to its investigational compounds. By concentrating on well-validated molecular drivers of cancer, Day One seeks to deliver first-in-class or best-in-class therapies with the potential for meaningful clinical benefit.

The company’s pipeline includes several small-molecule candidates in various stages of development.