Wedbush Issues Positive Forecast for Day One Biopharmaceuticals (NASDAQ:DAWN) Stock Price

Day One Biopharmaceuticals (NASDAQ:DAWNGet Free Report) had its target price boosted by Wedbush from $29.00 to $30.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Wedbush’s price objective indicates a potential upside of 149.58% from the stock’s current price.

Several other brokerages also recently issued reports on DAWN. Zacks Research upgraded shares of Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. JPMorgan Chase & Co. upped their price objective on Day One Biopharmaceuticals from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, November 7th. TD Cowen began coverage on shares of Day One Biopharmaceuticals in a research report on Tuesday, January 13th. They set a “buy” rating and a $34.00 price target on the stock. Needham & Company LLC cut their price objective on Day One Biopharmaceuticals from $18.00 to $17.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research note on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.14.

Check Out Our Latest Stock Report on Day One Biopharmaceuticals

Day One Biopharmaceuticals Trading Up 2.7%

NASDAQ DAWN opened at $12.02 on Wednesday. Day One Biopharmaceuticals has a 1-year low of $5.64 and a 1-year high of $13.20. The company has a 50 day moving average of $10.63 and a 200-day moving average of $8.74. The firm has a market cap of $1.23 billion, a price-to-earnings ratio of -7.91 and a beta of -1.26.

Day One Biopharmaceuticals (NASDAQ:DAWNGet Free Report) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). Day One Biopharmaceuticals had a negative return on equity of 32.05% and a negative net margin of 113.53%.The business had revenue of $53.72 million for the quarter, compared to the consensus estimate of $49.81 million. On average, analysts forecast that Day One Biopharmaceuticals will post -0.72 earnings per share for the current year.

Insider Transactions at Day One Biopharmaceuticals

In other news, insider Lauren Merendino sold 5,814 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $11.60, for a total value of $67,442.40. Following the sale, the insider directly owned 60,157 shares of the company’s stock, valued at approximately $697,821.20. This represents a 8.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeremy Bender sold 15,459 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $11.60, for a total transaction of $179,324.40. Following the completion of the sale, the chief executive officer owned 204,603 shares of the company’s stock, valued at $2,373,394.80. This trade represents a 7.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 36,461 shares of company stock valued at $422,948. 6.20% of the stock is owned by company insiders.

Institutional Trading of Day One Biopharmaceuticals

A number of hedge funds have recently made changes to their positions in DAWN. Federated Hermes Inc. bought a new position in shares of Day One Biopharmaceuticals during the 3rd quarter worth approximately $39,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Day One Biopharmaceuticals by 26.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,989 shares of the company’s stock valued at $46,000 after purchasing an additional 1,029 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Day One Biopharmaceuticals by 44.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,349 shares of the company’s stock valued at $48,000 after purchasing an additional 2,264 shares during the last quarter. Quarry LP bought a new position in Day One Biopharmaceuticals during the third quarter worth $49,000. Finally, Entropy Technologies LP acquired a new position in shares of Day One Biopharmaceuticals in the second quarter valued at $67,000. 87.95% of the stock is owned by institutional investors and hedge funds.

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About Day One Biopharmaceuticals

(Get Free Report)

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.

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Analyst Recommendations for Day One Biopharmaceuticals (NASDAQ:DAWN)

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