Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Given Average Rating of “Hold” by Brokerages

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) have earned a consensus rating of “Hold” from the ten analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $23.2857.

A number of research analysts recently commented on DAWN shares. JonesTrading cut Day One Biopharmaceuticals from a “buy” rating to a “hold” rating and boosted their price target for the stock from $20.00 to $21.50 in a report on Friday, March 6th. Needham & Company LLC cut Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, March 6th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $21.50 price target (down from $27.00) on shares of Day One Biopharmaceuticals in a report on Wednesday, March 11th. Zacks Research cut Day One Biopharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Finally, TD Cowen cut Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, March 6th.

Day One Biopharmaceuticals Trading Down 0.1%

Shares of NASDAQ:DAWN opened at $21.45 on Friday. The stock has a 50 day moving average of $17.41 and a 200 day moving average of $11.91. The company has a market cap of $2.22 billion, a PE ratio of -20.83 and a beta of -1.74. Day One Biopharmaceuticals has a 12-month low of $5.64 and a 12-month high of $21.49.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted 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 23.43% and a negative net margin of 67.85%.The business had revenue of $53.72 million during the quarter, compared to analysts’ expectations of $49.81 million. Equities research analysts predict that Day One Biopharmaceuticals will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Charles N. York II sold 6,065 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total value of $70,354.00. Following the transaction, the chief financial officer directly owned 312,025 shares of the company’s stock, valued at approximately $3,619,490. The trade was a 1.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Vasconcelles sold 2,728 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total value of $31,644.80. Following the completion of the transaction, the insider directly owned 4,397 shares in the company, valued at approximately $51,005.20. This represents a 38.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 36,461 shares of company stock worth $422,948 in the last quarter. 6.20% of the stock is owned by insiders.

Institutional Trading of Day One Biopharmaceuticals

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Day One Biopharmaceuticals by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 6,282,376 shares of the company’s stock worth $58,552,000 after acquiring an additional 101,047 shares in the last quarter. Vestal Point Capital LP raised its holdings in shares of Day One Biopharmaceuticals by 94.4% during the 4th quarter. Vestal Point Capital LP now owns 5,200,000 shares of the company’s stock worth $48,464,000 after acquiring an additional 2,525,000 shares in the last quarter. Deerfield Management Company L.P. raised its holdings in shares of Day One Biopharmaceuticals by 26.4% during the 3rd quarter. Deerfield Management Company L.P. now owns 4,705,413 shares of the company’s stock worth $33,173,000 after acquiring an additional 982,282 shares in the last quarter. State Street Corp raised its holdings in shares of Day One Biopharmaceuticals by 32.4% during the 4th quarter. State Street Corp now owns 4,289,566 shares of the company’s stock worth $39,979,000 after acquiring an additional 1,049,122 shares in the last quarter. Finally, Rubric Capital Management LP purchased a new stake in shares of Day One Biopharmaceuticals during the 3rd quarter worth approximately $23,808,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

Day One Biopharmaceuticals Company Profile

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.