Analysts Set Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) PT at $34.57

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) have earned a consensus recommendation of “Buy” from the eight analysts that are currently covering the firm, 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 target price among analysts that have updated their coverage on the stock in the last year is $34.57.

Several analysts have commented on the stock. Bank of America lowered their price objective on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. lowered their price target on shares of Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Wedbush reaffirmed an “outperform” rating and set a $32.00 target price on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. The Goldman Sachs Group decreased their target price on shares of Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $32.00 price target on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th.

Insider Activity

In other Day One Biopharmaceuticals news, CFO Charles N. York II sold 4,370 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $52,265.20. Following the sale, the chief financial officer now owns 252,638 shares of the company’s stock, valued at $3,021,550.48. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeremy Bender sold 12,048 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total transaction of $144,094.08. Following the completion of the sale, the chief executive officer now directly owns 128,015 shares in the company, valued at approximately $1,531,059.40. This trade represents a 8.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,064 shares of company stock valued at $251,925. Corporate insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of DAWN. FMR LLC lifted its position in shares of Day One Biopharmaceuticals by 73.9% in the 4th quarter. FMR LLC now owns 12,887,467 shares of the company’s stock worth $163,284,000 after purchasing an additional 5,475,087 shares during the period. Alyeska Investment Group L.P. purchased a new position in Day One Biopharmaceuticals in the fourth quarter worth about $31,829,000. Braidwell LP raised its holdings in Day One Biopharmaceuticals by 60.5% in the third quarter. Braidwell LP now owns 4,873,853 shares of the company’s stock worth $67,893,000 after buying an additional 1,837,949 shares during the last quarter. Vestal Point Capital LP grew its stake in shares of Day One Biopharmaceuticals by 100.0% in the third quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company’s stock worth $34,825,000 after acquiring an additional 1,250,000 shares during the period. Finally, Boxer Capital Management LLC bought a new stake in shares of Day One Biopharmaceuticals in the fourth quarter worth approximately $15,077,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

Day One Biopharmaceuticals Price Performance

Shares of NASDAQ DAWN opened at $8.07 on Friday. Day One Biopharmaceuticals has a 1 year low of $8.02 and a 1 year high of $18.07. The stock has a market capitalization of $817.93 million, a P/E ratio of -7.83 and a beta of -1.38. The company has a 50-day moving average price of $11.68 and a 200-day moving average price of $13.15.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.34). The company had revenue of $29.21 million for the quarter, compared to analyst estimates of $27.11 million. As a group, equities research analysts anticipate that Day One Biopharmaceuticals will post -0.72 earnings per share for the current fiscal year.

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.