Day One Biopharmaceuticals (NASDAQ:DAWN) Price Target Raised to $33.00

Day One Biopharmaceuticals (NASDAQ:DAWN) had its price objective raised by Needham & Company LLC from $30.00 to $33.00 in a research note released on Wednesday morning, MarketBeat reports. They currently have a buy rating on the stock.

Several other equities analysts also recently commented on DAWN. The Goldman Sachs Group lowered their target price on shares of Day One Biopharmaceuticals from $50.00 to $44.00 and set a buy rating on the stock in a report on Tuesday, February 27th. Piper Sandler reissued an overweight rating and issued a $40.00 target price on shares of Day One Biopharmaceuticals in a report on Tuesday, March 26th. JPMorgan Chase & Co. boosted their target price on shares of Day One Biopharmaceuticals from $32.00 to $36.00 and gave the stock an overweight rating in a report on Monday, April 22nd. Finally, Oppenheimer reissued a market perform rating on shares of Day One Biopharmaceuticals in a report on Tuesday, February 27th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $39.33.

Day One Biopharmaceuticals Price Performance

Shares of NASDAQ:DAWN opened at $14.92 on Wednesday. Day One Biopharmaceuticals has a 1-year low of $9.67 and a 1-year high of $17.85. The company has a market capitalization of $1.30 billion, a P/E ratio of -6.27 and a beta of -1.48. The firm’s 50 day simple moving average is $15.22 and its two-hundred day simple moving average is $13.81.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly 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). On average, sell-side analysts anticipate that Day One Biopharmaceuticals will post -2.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Adam Dubow sold 3,242 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $15.25, for a total value of $49,440.50. Following the sale, the general counsel now owns 16,585 shares in the company, valued at $252,921.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel Adam Dubow sold 3,242 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $15.25, for a total value of $49,440.50. Following the sale, the general counsel now owns 16,585 shares in the company, valued at $252,921.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeremy Bender sold 7,615 shares of the business’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 $116,128.75. Following the completion of the sale, the chief executive officer now owns 721,813 shares in the company, valued at approximately $11,007,648.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,781 shares of company stock worth $883,160. Insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of DAWN. First Turn Management LLC bought a new position in Day One Biopharmaceuticals during the fourth quarter valued at $24,834,000. TimesSquare Capital Management LLC increased its position in Day One Biopharmaceuticals by 45.8% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,666,065 shares of the company’s stock valued at $24,325,000 after acquiring an additional 523,455 shares during the last quarter. Braidwell LP increased its position in Day One Biopharmaceuticals by 13.5% during the fourth quarter. Braidwell LP now owns 4,215,573 shares of the company’s stock valued at $61,547,000 after acquiring an additional 500,000 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Day One Biopharmaceuticals by 28.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,118,849 shares of the company’s stock valued at $30,935,000 after acquiring an additional 472,654 shares during the last quarter. Finally, Superstring Capital Management LP bought a new position in Day One Biopharmaceuticals during the fourth quarter valued at $5,543,000. Institutional investors 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.