Day One Biopharmaceuticals (NASDAQ:DAWN) Sees Unusually-High Trading Volume Following Analyst Upgrade

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) saw an uptick in trading volume on Wednesday after Needham & Company LLC raised their price target on the stock from $30.00 to $33.00. Needham & Company LLC currently has a buy rating on the stock. 1,343,090 shares were traded during mid-day trading, an increase of 85% from the previous session’s volume of 726,171 shares.The stock last traded at $15.66 and had previously closed at $16.64.

A number of other analysts also recently issued reports on DAWN. The Goldman Sachs Group reduced their price target on shares of Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. JPMorgan Chase & Co. lifted their price objective on shares of Day One Biopharmaceuticals from $32.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday. Oppenheimer reissued a “market perform” rating on shares of Day One Biopharmaceuticals in a research note on Tuesday, February 27th. Finally, Piper Sandler reissued an “overweight” rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a research note on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.33.

Insiders Place Their Bets

In related news, CEO Jeremy Bender sold 7,615 shares of Day One Biopharmaceuticals stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.25, for a total transaction of $116,128.75. Following the completion of the transaction, the chief executive officer now directly owns 721,813 shares of the company’s stock, valued at approximately $11,007,648.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Samuel C. Blackman sold 10,000 shares of Day One Biopharmaceuticals stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $16.02, for a total transaction of $160,200.00. Following the completion of the transaction, the insider now directly owns 1,174,662 shares of the company’s stock, valued at approximately $18,818,085.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Jeremy Bender sold 7,615 shares of Day One Biopharmaceuticals stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.25, for a total transaction of $116,128.75. Following the transaction, the chief executive officer now directly owns 721,813 shares of the company’s stock, valued at $11,007,648.25. The disclosure for this sale can be found here. Insiders sold 55,781 shares of company stock valued at $883,160 in the last three months. Corporate insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

A number of large investors have recently made changes to their positions in the company. Arizona State Retirement System boosted its position in Day One Biopharmaceuticals by 8.8% in the 3rd quarter. Arizona State Retirement System now owns 12,363 shares of the company’s stock valued at $152,000 after buying an additional 995 shares during the period. Quintet Private Bank Europe S.A. boosted its position in Day One Biopharmaceuticals by 43.2% in the 4th quarter. Quintet Private Bank Europe S.A. now owns 3,313 shares of the company’s stock valued at $48,000 after buying an additional 1,000 shares during the period. China Universal Asset Management Co. Ltd. boosted its position in Day One Biopharmaceuticals by 130.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,226 shares of the company’s stock valued at $27,000 after buying an additional 1,262 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in Day One Biopharmaceuticals by 2.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 59,289 shares of the company’s stock valued at $979,000 after buying an additional 1,445 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Day One Biopharmaceuticals by 9.7% in the 3rd quarter. Principal Financial Group Inc. now owns 17,781 shares of the company’s stock valued at $218,000 after buying an additional 1,569 shares during the period. 87.95% of the stock is owned by hedge funds and other institutional investors.

Day One Biopharmaceuticals Trading Down 8.7 %

The company has a market capitalization of $1.33 billion, a PE ratio of -6.38 and a beta of -1.48. The firm’s 50-day simple moving average is $15.28 and its 200-day simple moving average is $13.79.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings results on Monday, February 26th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.07). As a group, analysts anticipate that Day One Biopharmaceuticals, Inc. will post -2.66 EPS for the current year.

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.