Piper Sandler Reaffirms Overweight Rating for Day One Biopharmaceuticals (NASDAQ:DAWN)

Piper Sandler reissued their overweight rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a report released on Tuesday morning, Benzinga reports. The firm currently has a $40.00 target price on the stock.

Several other equities research analysts have also recently weighed in on DAWN. The Goldman Sachs Group decreased their target price on Day One Biopharmaceuticals from $50.00 to $44.00 and set a buy rating for the company in a research note on Tuesday, February 27th. Oppenheimer restated a market perform rating on shares of Day One Biopharmaceuticals in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $40.60.

Day One Biopharmaceuticals Trading Up 4.6 %

Day One Biopharmaceuticals stock opened at $16.52 on Tuesday. Day One Biopharmaceuticals has a 12 month low of $9.67 and a 12 month high of $17.85. The firm has a market cap of $1.44 billion, a PE ratio of -6.94 and a beta of -1.48. The stock’s 50 day simple moving average is $15.16 and its two-hundred day simple moving average is $13.54.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its earnings results on Monday, February 26th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). On average, equities research analysts forecast that Day One Biopharmaceuticals will post -2.66 EPS for the current year.

Insider Activity

In other news, CFO Charles N. York II sold 2,666 shares of Day One Biopharmaceuticals stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.25, for a total transaction of $40,656.50. Following the transaction, the chief financial officer now directly owns 277,754 shares in the company, valued at approximately $4,235,748.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Charles N. York II sold 2,666 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.25, for a total transaction of $40,656.50. Following the completion of the sale, the chief financial officer now directly owns 277,754 shares of the company’s stock, valued at approximately $4,235,748.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, General Counsel Adam Dubow sold 3,242 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.25, for a total value of $49,440.50. Following the sale, the general counsel now directly owns 16,585 shares of the company’s stock, valued at $252,921.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,781 shares of company stock worth $722,960. 8.80% of the stock is owned by company insiders.

Institutional Trading of Day One Biopharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its position in shares of Day One Biopharmaceuticals by 38.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 447,138 shares of the company’s stock worth $5,486,000 after buying an additional 125,050 shares during the period. Bank of New York Mellon Corp raised its holdings in Day One Biopharmaceuticals by 22.4% during the third quarter. Bank of New York Mellon Corp now owns 220,296 shares of the company’s stock valued at $2,703,000 after buying an additional 40,387 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Day One Biopharmaceuticals by 5.5% in the third quarter. Deutsche Bank AG now owns 177,137 shares of the company’s stock worth $2,173,000 after purchasing an additional 9,219 shares during the period. Citigroup Inc. increased its stake in shares of Day One Biopharmaceuticals by 4.4% in the third quarter. Citigroup Inc. now owns 100,665 shares of the company’s stock worth $1,235,000 after purchasing an additional 4,234 shares during the period. Finally, TimesSquare Capital Management LLC increased its stake in shares of Day One Biopharmaceuticals by 41.8% in the third quarter. TimesSquare Capital Management LLC now owns 1,142,610 shares of the company’s stock worth $14,020,000 after purchasing an additional 336,910 shares during the period. Institutional investors and hedge funds own 87.95% of the company’s stock.

About Day One Biopharmaceuticals

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.