Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Receives Consensus Rating of “Buy” from Analysts

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) have been assigned an average rating of “Buy” from the nine research firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $35.71.

Several research analysts have recently weighed in on DAWN shares. HC Wainwright restated a “buy” rating and set a $40.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and set a $33.00 price target on shares of Day One Biopharmaceuticals in a research report on Thursday, October 31st. Finally, TD Cowen upgraded Day One Biopharmaceuticals to a “strong-buy” rating in a research note on Monday, November 4th.

Insider Activity

In related news, insider Samuel C. Blackman sold 10,000 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $16.10, for a total transaction of $161,000.00. Following the completion of the sale, the insider now directly owns 1,057,535 shares of the company’s stock, valued at approximately $17,026,313.50. This trade represents a 0.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 51,745 shares of company stock valued at $748,567. 8.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Day One Biopharmaceuticals by 178.5% in the third quarter. FMR LLC now owns 7,412,380 shares of the company’s stock valued at $103,254,000 after acquiring an additional 4,750,936 shares during the period. Braidwell LP raised its stake in Day One Biopharmaceuticals by 60.5% in the 3rd quarter. Braidwell LP now owns 4,873,853 shares of the company’s stock worth $67,893,000 after purchasing an additional 1,837,949 shares in the last quarter. Vestal Point Capital LP boosted its holdings in Day One Biopharmaceuticals by 100.0% in the 3rd quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company’s stock valued at $34,825,000 after purchasing an additional 1,250,000 shares during the period. Deerfield Management Company L.P. Series C grew its position in shares of Day One Biopharmaceuticals by 65.6% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 2,923,137 shares of the company’s stock worth $40,281,000 after purchasing an additional 1,157,825 shares in the last quarter. Finally, First Turn Management LLC bought a new position in shares of Day One Biopharmaceuticals during the third quarter worth approximately $13,204,000. Institutional investors own 87.95% of the company’s stock.

Day One Biopharmaceuticals Stock Performance

DAWN opened at $12.87 on Monday. The business’s 50-day simple moving average is $13.86 and its 200 day simple moving average is $14.01. The firm has a market capitalization of $1.30 billion, a PE ratio of -12.50 and a beta of -1.51. Day One Biopharmaceuticals has a 52-week low of $11.94 and a 52-week high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of ($0.20) by $0.58. The company had revenue of $93.76 million during the quarter, compared to analyst estimates of $15.05 million. During the same period in the previous year, the company posted ($0.54) EPS. On average, research analysts forecast that Day One Biopharmaceuticals will post -0.88 earnings per share for the current year.

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.