Day One Biopharmaceuticals’ (DAWN) “Neutral” Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their neutral rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a $21.50 target price on the stock, down from their prior target price of $27.00.

Several other equities analysts have also commented on the stock. JonesTrading lowered shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating and upped their price target for the stock from $20.00 to $21.50 in a research report on Friday, March 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a report on Monday, December 29th. TD Cowen cut shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. HC Wainwright reaffirmed a “neutral” rating and issued a $21.50 target price (down from $22.00) on shares of Day One Biopharmaceuticals in a research report on Tuesday. Finally, Needham & Company LLC cut Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, March 6th. Two equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.75.

Day One Biopharmaceuticals Price Performance

DAWN opened at $21.25 on Wednesday. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of -20.63 and a beta of -1.25. The business has a 50-day moving average of $11.82 and a two-hundred day moving average of $9.36. Day One Biopharmaceuticals has a 12 month low of $5.64 and a 12 month high of $21.43.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced 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 company had revenue of $53.72 million for the quarter, compared to analysts’ expectations of $49.81 million. Equities research analysts anticipate that Day One Biopharmaceuticals will post -0.72 earnings per share for the current year.

Insider Activity at Day One Biopharmaceuticals

In related news, insider Lauren Merendino sold 5,814 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $11.60, for a total transaction of $67,442.40. Following the transaction, the insider owned 60,157 shares in the company, valued at approximately $697,821.20. The trade was a 8.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jeremy Bender sold 15,459 shares of the company’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total transaction of $179,324.40. Following the sale, the chief executive officer directly owned 204,603 shares of the company’s stock, valued at approximately $2,373,394.80. This trade represents a 7.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 36,461 shares of company stock valued at $422,948 over the last quarter. Company insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. purchased a new stake in shares of Day One Biopharmaceuticals in the third quarter worth about $39,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Day One Biopharmaceuticals by 26.0% during the 4th 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 period. Ameritas Investment Partners Inc. lifted its position in Day One Biopharmaceuticals by 44.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,349 shares of the company’s stock worth $48,000 after acquiring an additional 2,264 shares in the last quarter. Quarry LP acquired a new position in Day One Biopharmaceuticals during the 3rd quarter worth approximately $49,000. Finally, Entropy Technologies LP purchased a new position in Day One Biopharmaceuticals in the 2nd quarter worth approximately $67,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

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.