Day One Biopharmaceuticals (NASDAQ:DAWN) Price Target Raised to $33.00

Day One Biopharmaceuticals (NASDAQ:DAWN) had its price objective lifted by Needham & Company LLC from $30.00 to $33.00 in a research report released on Wednesday morning, Marketbeat reports. The firm currently has a buy rating on the stock.

DAWN has been the subject of several other research reports. Oppenheimer restated a market perform rating on shares of Day One Biopharmaceuticals in a research report on Tuesday, February 27th. The Goldman Sachs Group reduced their price target 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. 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. Finally, JPMorgan Chase & Co. upped their price target on shares of Day One Biopharmaceuticals from $32.00 to $36.00 and gave the stock an overweight rating in a research report on Monday, April 22nd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Day One Biopharmaceuticals has a consensus rating of Moderate Buy and an average price target of $39.33.

Day One Biopharmaceuticals Stock Performance

Shares of Day One Biopharmaceuticals stock opened at $14.92 on Wednesday. The firm has a 50-day simple moving average of $15.22 and a two-hundred day simple moving average of $13.81. The company has a market cap of $1.30 billion, a P/E ratio of -6.27 and a beta of -1.48. Day One Biopharmaceuticals has a fifty-two week low of $9.67 and a fifty-two week high of $17.85.

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). Equities research analysts forecast that Day One Biopharmaceuticals will post -2.67 EPS for the current year.

Insider Activity at Day One Biopharmaceuticals

In related news, insider Samuel C. Blackman sold 2,258 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.25, for a total transaction of $34,434.50. Following the completion of the sale, the insider now owns 1,244,662 shares of the company’s stock, valued at approximately $18,981,095.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Samuel C. Blackman sold 2,258 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.25, for a total transaction of $34,434.50. Following the completion of the sale, the insider now owns 1,244,662 shares of the company’s stock, valued at approximately $18,981,095.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 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 disclosure for this sale can be found here. In the last quarter, insiders sold 55,781 shares of company stock valued at $883,160. Corporate insiders own 8.40% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of 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 buying an additional 346,090 shares during the period. Franklin Resources Inc. grew its stake in shares of Day One Biopharmaceuticals by 4.2% in the 4th 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 period. Braidwell LP grew its stake in shares of Day One Biopharmaceuticals by 13.5% in the 4th quarter. Braidwell LP now owns 4,215,573 shares of the company’s stock valued at $61,547,000 after buying an additional 500,000 shares during the period. Goldman Sachs Group Inc. grew its stake 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 during the period. Finally, Polar Capital Holdings Plc grew its stake in shares of Day One Biopharmaceuticals by 9.0% in the 3rd quarter. Polar Capital Holdings Plc now owns 1,935,000 shares of the company’s stock valued at $23,742,000 after buying an additional 160,385 shares during the period. Hedge funds and other institutional investors own 87.95% of the company’s stock.

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.