Day One Biopharmaceuticals (NASDAQ:DAWN) Given Buy Rating at Needham & Company LLC

Day One Biopharmaceuticals (NASDAQ:DAWN)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $33.00 price objective on the stock. Needham & Company LLC’s price objective indicates a potential upside of 98.80% from the company’s previous close.

Several other research firms also recently weighed in on DAWN. JPMorgan Chase & Co. raised their target price on Day One Biopharmaceuticals from $32.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, April 22nd. HC Wainwright decreased their price objective on Day One Biopharmaceuticals from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday. Oppenheimer reaffirmed a “market perform” rating on shares of Day One Biopharmaceuticals in a report on Tuesday, February 27th. The Goldman Sachs Group reduced their target price on shares of 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. Finally, Piper Sandler restated an “overweight” rating and set a $40.00 price target on shares of Day One Biopharmaceuticals in a research report on Tuesday, March 26th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.67.

Day One Biopharmaceuticals Stock Performance

NASDAQ:DAWN opened at $16.60 on Tuesday. The stock has a market capitalization of $1.45 billion, a PE ratio of -6.97 and a beta of -1.44. Day One Biopharmaceuticals has a fifty-two week low of $9.67 and a fifty-two week high of $18.07. The company has a fifty day moving average of $15.45 and a two-hundred day moving average of $14.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released 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). Research analysts forecast that Day One Biopharmaceuticals will post -2.67 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Charles N. York II sold 2,666 shares of the stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.25, for a total value of $40,656.50. Following the completion of the sale, the chief financial officer now 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 link. In related news, CFO Charles N. York II sold 2,666 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Charles N. York II sold 52,183 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $17.89, for a total transaction of $933,553.87. Following the completion of the transaction, the chief financial officer now directly owns 225,571 shares in the company, valued at approximately $4,035,465.19. The disclosure for this sale can be found here. Insiders have sold 195,247 shares of company stock valued at $3,376,817 over the last ninety days. Company insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Day One Biopharmaceuticals by 8.1% in the 3rd quarter. Vanguard Group Inc. now owns 4,629,754 shares of the company’s stock valued at $56,807,000 after acquiring an additional 346,090 shares in the last quarter. Franklin Resources Inc. increased its holdings in Day One Biopharmaceuticals by 4.2% in the fourth quarter. Franklin Resources Inc. now owns 4,236,795 shares of the company’s stock valued at $61,857,000 after buying an additional 169,463 shares during the last quarter. Braidwell LP raised its position in shares of Day One Biopharmaceuticals by 13.5% during the 4th quarter. Braidwell LP now owns 4,215,573 shares of the company’s stock worth $61,547,000 after acquiring an additional 500,000 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Day One Biopharmaceuticals by 28.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,118,849 shares of the company’s stock valued at $30,935,000 after buying an additional 472,654 shares in the last quarter. Finally, Polar Capital Holdings Plc increased its position in Day One Biopharmaceuticals by 9.0% during the third quarter. Polar Capital Holdings Plc now owns 1,935,000 shares of the company’s stock worth $23,742,000 after buying an additional 160,385 shares during the period. 87.95% of the stock is currently owned by institutional investors and hedge funds.

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.