Needham & Company LLC Reiterates Hold Rating for Day One Biopharmaceuticals (NASDAQ:DAWN)

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

A number of other research analysts have also recently issued reports on DAWN. Zacks Research cut shares of Day One Biopharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. TD Cowen assumed coverage on Day One Biopharmaceuticals in a research report on Tuesday, January 13th. They set a “buy” rating and a $34.00 price objective for the company. Wedbush raised their price objective on Day One Biopharmaceuticals from $29.00 to $30.00 and gave the company an “outperform” rating in a research note on Wednesday, February 25th. HC Wainwright decreased their target price on Day One Biopharmaceuticals from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. boosted their target price on Day One Biopharmaceuticals from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Six equities 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $26.14.

Day One Biopharmaceuticals Stock Up 65.7%

Shares of DAWN traded up $8.40 during trading hours on Friday, hitting $21.18. 67,211,562 shares of the company were exchanged, compared to its average volume of 4,102,873. Day One Biopharmaceuticals has a fifty-two week low of $5.64 and a fifty-two week high of $21.20. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -20.56 and a beta of -1.25. The firm’s fifty day moving average is $10.87 and its 200 day moving average is $8.95.

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

Insiders Place Their Bets

In other Day One Biopharmaceuticals news, CEO Jeremy Bender sold 15,459 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total value of $179,324.40. Following the completion of the transaction, the chief executive officer owned 204,603 shares of the company’s stock, valued at $2,373,394.80. This represents a 7.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Lauren Merendino sold 5,814 shares of Day One Biopharmaceuticals stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $11.60, for a total value of $67,442.40. Following the sale, the insider directly owned 60,157 shares in the company, valued at $697,821.20. The trade was a 8.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 36,461 shares of company stock worth $422,948. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in DAWN. Rubric Capital Management LP bought a new stake in shares of Day One Biopharmaceuticals in the 3rd quarter valued at $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 valued at $48,464,000 after purchasing an additional 2,525,000 shares in the last quarter. AIGH Capital Management LLC purchased a new position in Day One Biopharmaceuticals during the 3rd quarter worth $10,719,000. Mak Capital One LLC bought a new position in shares of Day One Biopharmaceuticals during the third quarter valued at about $10,212,000. Finally, Balyasny Asset Management L.P. purchased a new position in Day One Biopharmaceuticals during the third quarter worth about $9,758,000. 87.95% of the stock is currently owned by institutional investors and hedge funds.

About Day One Biopharmaceuticals

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.