Day One Biopharmaceuticals’ (DAWN) Hold Rating Reaffirmed at Needham & Company LLC

Day One Biopharmaceuticals (NASDAQ:DAWN)‘s stock had its “hold” rating restated by equities researchers at Needham & Company LLC in a report released on Friday,Benzinga reports.

A number of other research firms also recently issued reports on DAWN. Zacks Research downgraded shares of Day One Biopharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. JPMorgan Chase & Co. increased their target price on shares of Day One Biopharmaceuticals from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. TD Cowen began coverage on shares of Day One Biopharmaceuticals in a research note on Tuesday, January 13th. They set a “buy” rating and a $34.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a report on Monday, December 29th. Finally, Wedbush increased their price objective on Day One Biopharmaceuticals from $29.00 to $30.00 and gave the company an “outperform” rating in a report on Wednesday, February 25th. Six research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $26.14.

Day One Biopharmaceuticals Stock Up 65.7%

DAWN stock traded up $8.40 during midday trading on Friday, hitting $21.18. The company’s stock had a trading volume of 67,211,562 shares, compared to its average volume of 4,102,873. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -20.56 and a beta of -1.25. The stock’s 50-day moving average price is $10.87 and its 200 day moving average price is $8.95. Day One Biopharmaceuticals has a 1 year low of $5.64 and a 1 year high of $21.20.

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

Insider Activity at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, CEO Jeremy Bender sold 15,459 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total transaction of $179,324.40. Following the sale, the chief executive officer owned 204,603 shares in the company, valued at $2,373,394.80. This represents a 7.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Adam Dubow sold 6,395 shares of the firm’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total value of $74,182.00. Following the completion of the transaction, the insider directly owned 72,694 shares of the company’s stock, valued at $843,250.40. The trade was a 8.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 36,461 shares of company stock worth $422,948 in the last ninety days. Insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Rubric Capital Management LP purchased a new position in Day One Biopharmaceuticals during the 3rd quarter valued at about $23,808,000. Vestal Point Capital LP lifted its holdings in shares of Day One Biopharmaceuticals by 94.4% in the fourth quarter. Vestal Point Capital LP now owns 5,200,000 shares of the company’s stock worth $48,464,000 after buying an additional 2,525,000 shares in the last quarter. AIGH Capital Management LLC bought a new position in shares of Day One Biopharmaceuticals in the third quarter valued at approximately $10,719,000. Mak Capital One LLC bought a new position in shares of Day One Biopharmaceuticals in the third quarter valued at approximately $10,212,000. Finally, Balyasny Asset Management L.P. purchased a new position in Day One Biopharmaceuticals during the third quarter valued at approximately $9,758,000. Institutional investors own 87.95% of the company’s stock.

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.