Day One Biopharmaceuticals (NASDAQ:DAWN) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has a $33.00 price objective on the stock.

Other equities analysts have also recently issued reports about the stock. Wedbush reaffirmed an outperform rating and set a $33.00 price target on shares of Day One Biopharmaceuticals in a research note on Thursday, July 25th. HC Wainwright restated a buy rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a research report on Friday, July 26th. JPMorgan Chase & Co. boosted their price target on Day One Biopharmaceuticals from $32.00 to $36.00 and gave the stock an overweight rating in a research note on Monday, April 22nd. Finally, Piper Sandler reissued an overweight rating and issued a $40.00 target price on shares of Day One Biopharmaceuticals in a report on Monday, July 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Day One Biopharmaceuticals has an average rating of Moderate Buy and an average target price of $35.71.

Day One Biopharmaceuticals Stock Down 1.0 %

NASDAQ DAWN opened at $14.17 on Tuesday. The stock has a market capitalization of $1.24 billion, a P/E ratio of -5.65 and a beta of -1.51. Day One Biopharmaceuticals has a 52-week low of $9.67 and a 52-week high of $18.07. The firm has a 50-day moving average price of $14.01 and a 200 day moving average price of $14.83.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its earnings results on Tuesday, July 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.70. The business had revenue of $8.19 million for the quarter, compared to analyst estimates of $0.90 million. On average, equities research analysts expect that Day One Biopharmaceuticals will post -2.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Samuel C. Blackman sold 10,000 shares of Day One Biopharmaceuticals stock in a transaction on Friday, May 10th. The stock was sold at an average price of $16.37, for a total value of $163,700.00. Following the completion of the sale, the insider now owns 1,164,662 shares of the company’s stock, valued at $19,065,516.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 10,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $16.37, for a total transaction of $163,700.00. Following the transaction, the insider now owns 1,164,662 shares of the company’s stock, valued at $19,065,516.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Samuel C. Blackman sold 20,000 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $16.01, for a total value of $320,200.00. Following the sale, the insider now owns 1,121,081 shares of the company’s stock, valued at $17,948,506.81. The disclosure for this sale can be found here. Insiders have sold a total of 56,068 shares of company stock valued at $874,173 in the last quarter. 8.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake 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 buying an additional 346,090 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Day One Biopharmaceuticals by 28.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,118,849 shares of the company’s stock valued at $30,935,000 after purchasing an additional 472,654 shares during the period. Parkman Healthcare Partners LLC increased its stake in Day One Biopharmaceuticals by 34.2% during the 4th quarter. Parkman Healthcare Partners LLC now owns 625,749 shares of the company’s stock worth $9,136,000 after buying an additional 159,341 shares during the period. Braidwell LP lifted its holdings in Day One Biopharmaceuticals by 13.5% in the 4th quarter. Braidwell LP now owns 4,215,573 shares of the company’s stock worth $61,547,000 after buying an additional 500,000 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Day One Biopharmaceuticals by 19.8% during the first quarter. Janus Henderson Group PLC now owns 2,032,384 shares of the company’s stock valued at $33,575,000 after acquiring an additional 336,281 shares in the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

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.