Day One Biopharmaceuticals (NASDAQ:DAWN) Earns “Buy” Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a research note released on Wednesday morning, Benzinga reports. HC Wainwright currently has a $50.00 price objective on the stock. HC Wainwright also issued estimates for Day One Biopharmaceuticals’ FY2024 earnings at ($2.79) EPS, FY2025 earnings at ($2.43) EPS, FY2026 earnings at ($1.34) EPS, FY2027 earnings at $0.15 EPS and FY2028 earnings at $1.87 EPS.

A number of other research analysts have also recently issued reports on DAWN. The Goldman Sachs Group reduced their price objective on shares of Day One Biopharmaceuticals from $50.00 to $44.00 and set a buy rating for the company in a report on Tuesday, February 27th. Needham & Company LLC raised their price target on shares of Day One Biopharmaceuticals from $30.00 to $33.00 and gave the company a buy rating in a research report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Day One Biopharmaceuticals from $32.00 to $36.00 and gave the company an overweight rating in a research report on Monday, April 22nd. Oppenheimer reissued a market perform rating on shares of Day One Biopharmaceuticals in a research report on Tuesday, February 27th. Finally, Piper Sandler reissued an overweight rating and set a $40.00 price target on shares of Day One Biopharmaceuticals in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Day One Biopharmaceuticals presently has an average rating of Moderate Buy and a consensus price target of $39.33.

Day One Biopharmaceuticals Price Performance

Shares of NASDAQ DAWN opened at $14.92 on Wednesday. The stock has a market capitalization of $1.30 billion, a P/E ratio of -6.27 and a beta of -1.48. The company has a 50-day moving average price of $15.22 and a 200-day moving average price of $13.81. Day One Biopharmaceuticals has a 1 year low of $9.67 and a 1 year high of $17.85.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings data on Monday, February 26th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). As a group, equities research analysts anticipate that Day One Biopharmaceuticals will post -2.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 2,258 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 value of $34,434.50. Following the sale, the insider now owns 1,244,662 shares of the company’s stock, valued at $18,981,095.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Charles N. York II sold 2,666 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.25, for a total value of $40,656.50. Following the sale, the chief financial officer now owns 277,754 shares of the company’s stock, valued at $4,235,748.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Samuel C. Blackman sold 2,258 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.25, for a total transaction of $34,434.50. Following the completion of the sale, the insider now directly owns 1,244,662 shares in the company, valued at approximately $18,981,095.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,781 shares of company stock valued at $883,160. Company insiders own 8.40% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Day One Biopharmaceuticals by 8.1% in the third quarter. Vanguard Group Inc. now owns 4,629,754 shares of the company’s stock valued at $56,807,000 after purchasing an additional 346,090 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Day One Biopharmaceuticals by 38.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 447,138 shares of the company’s stock valued at $5,486,000 after purchasing an additional 125,050 shares during the period. Bank of New York Mellon Corp grew its stake in Day One Biopharmaceuticals by 22.4% during the third quarter. Bank of New York Mellon Corp now owns 220,296 shares of the company’s stock valued at $2,703,000 after acquiring an additional 40,387 shares in the last quarter. TimesSquare Capital Management LLC grew its stake in Day One Biopharmaceuticals by 41.8% during the third quarter. TimesSquare Capital Management LLC now owns 1,142,610 shares of the company’s stock valued at $14,020,000 after acquiring an additional 336,910 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in Day One Biopharmaceuticals by 5.5% during the third quarter. Deutsche Bank AG now owns 177,137 shares of the company’s stock valued at $2,173,000 after acquiring an additional 9,219 shares in the last quarter. Institutional investors own 87.95% of the company’s stock.

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.