Day One Biopharmaceuticals’ (DAWN) “Neutral” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. restated their neutral rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a report published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a $21.50 price objective on the stock, down from their previous price objective of $27.00.

Other equities analysts have also issued research reports about the company. TD Cowen lowered Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. Wedbush restated a “neutral” rating and issued a $21.50 price objective (down from $30.00) on shares of Day One Biopharmaceuticals in a report on Monday, March 9th. JonesTrading cut shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating and upped their target price for the company from $20.00 to $21.50 in a research report on Friday, March 6th. Oppenheimer reaffirmed a “market perform” rating on shares of Day One Biopharmaceuticals in a research note on Friday, March 6th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $23.75.

Day One Biopharmaceuticals Stock Performance

DAWN opened at $21.31 on Wednesday. Day One Biopharmaceuticals has a one year low of $5.64 and a one year high of $21.43. The stock has a market capitalization of $2.20 billion, a PE ratio of -20.69 and a beta of -1.25. The business’s 50 day moving average price is $12.31 and its 200 day moving average price is $9.54.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings data on Tuesday, February 24th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.04). The business had revenue of $53.72 million during the quarter, compared to analysts’ expectations of $49.81 million. Day One Biopharmaceuticals had a negative return on equity of 23.43% and a negative net margin of 67.85%. As a group, equities research analysts forecast that Day One Biopharmaceuticals will post -0.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jeremy Bender sold 15,459 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total transaction of $179,324.40. Following the transaction, the chief executive officer owned 204,603 shares of the company’s stock, valued at approximately $2,373,394.80. This represents a 7.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Vasconcelles sold 2,728 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 value of $31,644.80. Following the transaction, the insider owned 4,397 shares of the company’s stock, valued at $51,005.20. This trade represents a 38.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 36,461 shares of company stock valued at $422,948. Insiders own 6.20% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. acquired a new stake in shares of Day One Biopharmaceuticals during the third quarter worth about $39,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Day One Biopharmaceuticals by 26.0% in the fourth 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 in the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Day One Biopharmaceuticals by 44.5% in the second 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 in the last quarter. Quarry LP purchased a new stake in Day One Biopharmaceuticals during the 3rd quarter worth approximately $49,000. Finally, Entropy Technologies LP purchased a new stake in Day One Biopharmaceuticals during the 2nd quarter worth approximately $67,000. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

About Day One Biopharmaceuticals

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.