Day One Biopharmaceuticals (NASDAQ:DAWN) Raised to “Strong-Buy” at Zacks Research

Day One Biopharmaceuticals (NASDAQ:DAWN) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Several other analysts have also recently weighed in on DAWN. JPMorgan Chase & Co. boosted their price objective on shares of Day One Biopharmaceuticals from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Piper Sandler lifted their target price on Day One Biopharmaceuticals from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. TD Cowen started coverage on Day One Biopharmaceuticals in a research note on Tuesday, January 13th. They issued a “buy” rating and a $34.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research report on Monday, December 29th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Day One Biopharmaceuticals in a report on Monday, November 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $25.71.

Day One Biopharmaceuticals Trading Up 2.5%

NASDAQ:DAWN opened at $12.33 on Monday. The stock’s 50-day moving average is $9.50 and its 200-day moving average is $8.07. Day One Biopharmaceuticals has a 1-year low of $5.64 and a 1-year high of $13.53. The stock has a market cap of $1.27 billion, a P/E ratio of -8.11 and a beta of -1.27.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its earnings results on Tuesday, November 4th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.09. Day One Biopharmaceuticals had a negative net margin of 113.53% and a negative return on equity of 32.05%. The business had revenue of $39.80 million for the quarter, compared to the consensus estimate of $38.20 million. During the same period last year, the company earned $0.38 EPS. The firm’s revenue was down 57.6% compared to the same quarter last year. As a group, equities analysts forecast that Day One Biopharmaceuticals will post -0.72 EPS for the current year.

Insider Transactions at Day One Biopharmaceuticals

In other news, insider Lauren Merendino sold 3,726 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $8.91, for a total transaction of $33,198.66. Following the transaction, the insider directly owned 50,809 shares of the company’s stock, valued at $452,708.19. This represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Charles N. York II sold 4,062 shares of Day One Biopharmaceuticals stock in a transaction on Monday, November 17th. The shares were sold at an average price of $8.91, for a total transaction of $36,192.42. Following the completion of the sale, the chief financial officer directly owned 294,715 shares of the company’s stock, valued at approximately $2,625,910.65. The trade was a 1.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 28,001 shares of company stock worth $249,489 in the last three months. Insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Federated Hermes Inc. acquired a new position in Day One Biopharmaceuticals during the 3rd quarter valued at about $39,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Day One Biopharmaceuticals by 26.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,989 shares of the company’s stock valued at $46,000 after buying an additional 1,029 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in Day One Biopharmaceuticals by 44.5% during the second quarter. Ameritas Investment Partners Inc. now owns 7,349 shares of the company’s stock worth $48,000 after buying an additional 2,264 shares in the last quarter. Quarry LP purchased a new stake in Day One Biopharmaceuticals in the 3rd quarter valued at $49,000. Finally, Entropy Technologies LP bought a new position in Day One Biopharmaceuticals during the 2nd quarter valued at $67,000. 87.95% of the stock is owned by institutional investors.

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.