Day One Biopharmaceuticals (NASDAQ:DAWN) Shares Up 12.2% on Analyst Upgrade

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) shares were up 12.2% on Tuesday 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. Day One Biopharmaceuticals traded as high as $17.39 and last traded at $17.26. Approximately 3,653,007 shares were traded during mid-day trading, an increase of 457% from the average daily volume of 656,201 shares. The stock had previously closed at $15.38.

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

Insider Transactions at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $16.02, for a total value of $160,200.00. Following the completion of the sale, the insider now directly owns 1,174,662 shares of the company’s stock, valued at approximately $18,818,085.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 10,000 shares of the company’s stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $16.02, for a total value of $160,200.00. Following the completion of the sale, the insider now directly owns 1,174,662 shares of the company’s stock, valued at approximately $18,818,085.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Adam Dubow sold 3,242 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.25, for a total transaction of $49,440.50. Following the completion of the sale, the general counsel now directly owns 16,585 shares of the company’s stock, valued at $252,921.25. The disclosure for this sale can be found here. Insiders sold a total of 55,781 shares of company stock valued at $883,160 over the last three months. Corporate insiders own 8.40% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

A number of institutional investors have recently modified their holdings of DAWN. SG Americas Securities LLC lifted its stake in shares of Day One Biopharmaceuticals by 58.7% during the 3rd quarter. SG Americas Securities LLC now owns 36,980 shares of the company’s stock valued at $454,000 after buying an additional 13,683 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Day One Biopharmaceuticals by 22.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 220,296 shares of the company’s stock valued at $2,703,000 after buying an additional 40,387 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Day One Biopharmaceuticals by 24.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,567 shares of the company’s stock valued at $535,000 after buying an additional 8,522 shares in the last quarter. TD Asset Management Inc lifted its stake in shares of Day One Biopharmaceuticals by 100.0% during the 3rd quarter. TD Asset Management Inc now owns 55,196 shares of the company’s stock valued at $677,000 after buying an additional 27,598 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in shares of Day One Biopharmaceuticals by 89.5% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 53,803 shares of the company’s stock valued at $660,000 after buying an additional 25,414 shares in the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Day One Biopharmaceuticals Trading Down 8.7 %

The stock’s fifty day moving average is $15.28 and its two-hundred day moving average is $13.79. The firm has a market cap of $1.33 billion, a P/E ratio of -6.38 and a beta of -1.48.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its earnings results on Monday, February 26th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). On average, analysts forecast 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.