Analysts Set Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Target Price at $23.75

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) have earned an average recommendation of “Hold” from the eleven ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and two have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $23.75.

A number of research analysts recently issued reports on the stock. Oppenheimer reissued a “market perform” rating on shares of Day One Biopharmaceuticals in a research report on Friday, March 6th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $21.50 price objective (down from $27.00) on shares of Day One Biopharmaceuticals in a report on Wednesday, March 11th. Wedbush reaffirmed a “neutral” rating and set a $21.50 target price (down from $30.00) on shares of Day One Biopharmaceuticals in a research note on Monday, March 9th. Zacks Research lowered shares of Day One Biopharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Finally, TD Cowen cut Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, March 6th.

Insiders Place Their Bets

In related news, insider Adam Dubow sold 6,395 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were 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 in the company, valued at $843,250.40. The trade was a 8.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Vasconcelles sold 2,728 shares of the business’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 $31,644.80. Following the completion of the transaction, the insider owned 4,397 shares of the company’s stock, valued at $51,005.20. This represents a 38.29% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 36,461 shares of company stock valued at $422,948. 6.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Day One Biopharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in DAWN. AIGH Capital Management LLC purchased a new stake in Day One Biopharmaceuticals in the third quarter worth about $10,719,000. AlphaQuest LLC lifted its position in shares of Day One Biopharmaceuticals by 1,065.6% during the 3rd quarter. AlphaQuest LLC now owns 185,006 shares of the company’s stock valued at $1,304,000 after buying an additional 169,134 shares in the last quarter. Schroder Investment Management Group purchased a new position in shares of Day One Biopharmaceuticals during the 2nd quarter valued at about $1,171,000. Geode Capital Management LLC grew its stake in shares of Day One Biopharmaceuticals by 11.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,712,429 shares of the company’s stock valued at $11,132,000 after acquiring an additional 171,964 shares during the period. Finally, Mak Capital One LLC purchased a new stake in Day One Biopharmaceuticals in the 3rd quarter worth approximately $10,212,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Day One Biopharmaceuticals Stock Up 0.2%

NASDAQ DAWN opened at $21.44 on Wednesday. Day One Biopharmaceuticals has a twelve month low of $5.64 and a twelve month high of $21.44. The firm has a market capitalization of $2.21 billion, a PE ratio of -20.82 and a beta of -1.25. The stock’s 50 day moving average is $13.55 and its 200 day moving average is $10.02.

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

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.