Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Given Average Recommendation of "Buy" by Analysts

Key Points

• Day One Biopharmaceuticals, Inc. has received an average analyst rating of "Buy", with six analysts recommending a buy and one giving a strong buy, and a 12-month price target of $29.00.
• The company reported earnings per share (EPS) of ($0.35), surpassing expectations of ($0.46) and generating revenue of $30.76 million in the last quarter.
• Recent stock activity showed insiders selling a total of 26,725 shares over the last three months, representing a significant portion of their holdings.

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report) have been given a consensus recommendation of "Buy" by the seven brokerages that are presently covering the firm, Marketbeat reports. Six analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $25.3333.

A number of equities research analysts have recently commented on the company. Wedbush reiterated an "outperform" rating and set a $25.00 target price on shares of Day One Biopharmaceuticals in a research note on Wednesday, May 7th. HC Wainwright decreased their price objective on shares of Day One Biopharmaceuticals from $36.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Needham & Company LLC dropped their target price on shares of Day One Biopharmaceuticals from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Wednesday.

Day One Biopharmaceuticals Stock Down 1.1%

DAWN stock traded down $0.07 during trading on Tuesday, reaching $5.97. The stock had a trading volume of 662,223 shares, compared to its average volume of 1,357,909. The company has a market capitalization of $604.62 million, a price-to-earnings ratio of -6.28 and a beta of -1.26. Day One Biopharmaceuticals has a one year low of $5.64 and a one year high of $16.76. The company's 50 day moving average is $6.70 and its two-hundred day moving average is $8.09.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.06. The company had revenue of $33.91 million during the quarter, compared to analyst estimates of $35.55 million. Day One Biopharmaceuticals had a negative return on equity of 19.01% and a negative net margin of 50.63%. As a group, research analysts predict that Day One Biopharmaceuticals will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Day One Biopharmaceuticals

In related news, CFO Charles N. York II sold 4,282 shares of the firm's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $6.26, for a total value of $26,805.32. Following the completion of the transaction, the chief financial officer directly owned 265,231 shares of the company's stock, valued at approximately $1,660,346.06. This trade represents a 1.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeremy Bender sold 13,964 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.26, for a total transaction of $87,414.64. Following the sale, the chief executive officer directly owned 145,737 shares in the company, valued at $912,313.62. The trade was a 8.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,725 shares of company stock valued at $167,299 over the last three months. 6.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several hedge funds have recently made changes to their positions in DAWN. GF Fund Management CO. LTD. purchased a new stake in Day One Biopharmaceuticals during the 4th quarter worth about $27,000. Quantbot Technologies LP bought a new stake in shares of Day One Biopharmaceuticals during the first quarter valued at about $82,000. Tower Research Capital LLC TRC lifted its holdings in shares of Day One Biopharmaceuticals by 911.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,657 shares of the company's stock worth $135,000 after buying an additional 9,603 shares in the last quarter. Pallas Capital Advisors LLC bought a new position in shares of Day One Biopharmaceuticals in the first quarter valued at approximately $87,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in Day One Biopharmaceuticals during the first quarter valued at approximately $88,000. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Day One Biopharmaceuticals Company Profile

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.