Day One Biopharmaceuticals (NASDAQ:DAWN) Sees Large Volume Increase After Analyst Upgrade

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) saw an uptick in trading volume on Wednesday after Needham & Company LLC raised their price target on the stock from $30.00 to $33.00. Needham & Company LLC currently has a buy rating on the stock. 1,343,090 shares were traded during mid-day trading, an increase of 85% from the previous session’s volume of 726,171 shares.The stock last traded at $15.66 and had previously closed at $16.64.

A number of other analysts have also commented on DAWN. JPMorgan Chase & Co. raised 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. The Goldman Sachs Group lowered their price objective on Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Piper Sandler reissued an “overweight” rating and set a $40.00 price objective on shares of Day One Biopharmaceuticals in a research report on Tuesday, March 26th. Finally, Oppenheimer reaffirmed 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 six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $39.67.

Insider Buying and Selling at Day One Biopharmaceuticals

In related news, insider Samuel C. Blackman sold 2,258 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.25, for a total transaction of $34,434.50. Following the completion of the transaction, the insider now directly owns 1,244,662 shares in the company, valued at approximately $18,981,095.50. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Samuel C. Blackman sold 2,258 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.25, for a total value of $34,434.50. Following the transaction, the insider now directly owns 1,244,662 shares of the company’s stock, valued at approximately $18,981,095.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Samuel C. Blackman sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $16.11, for a total value of $322,200.00. Following the completion of the transaction, the insider now directly owns 1,224,662 shares in the company, valued at $19,729,304.82. The disclosure for this sale can be found here. Insiders sold a total of 55,781 shares of company stock worth $883,160 in the last three months. 8.40% of the stock is currently owned by company insiders.

Institutional Trading of Day One Biopharmaceuticals

Hedge funds have recently modified their holdings of the company. Quest Partners LLC purchased a new stake in shares of Day One Biopharmaceuticals during the 4th quarter worth approximately $29,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of Day One Biopharmaceuticals by 130.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,226 shares of the company’s stock worth $27,000 after acquiring an additional 1,262 shares in the last quarter. Quintet Private Bank Europe S.A. increased its position in shares of Day One Biopharmaceuticals by 43.2% during the 4th quarter. Quintet Private Bank Europe S.A. now owns 3,313 shares of the company’s stock valued at $48,000 after purchasing an additional 1,000 shares during the last quarter. Amalgamated Bank increased its position in shares of Day One Biopharmaceuticals by 35.7% during the 3rd quarter. Amalgamated Bank now owns 8,628 shares of the company’s stock valued at $106,000 after purchasing an additional 2,268 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its position in shares of Day One Biopharmaceuticals by 34.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 10,072 shares of the company’s stock valued at $147,000 after purchasing an additional 2,554 shares during the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Day One Biopharmaceuticals Trading Down 5.8 %

The stock has a market cap of $1.37 billion, a P/E ratio of -6.58 and a beta of -1.48. The company has a 50-day moving average price of $15.27 and a two-hundred day moving average price of $13.78.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its earnings results on Monday, February 26th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.07). As a group, equities analysts forecast that Day One Biopharmaceuticals, Inc. will post -2.66 earnings per share for the current fiscal 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.