Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Given Average Rating 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.

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report) has been assigned an average rating of "Buy" from the seven ratings firms that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $29.00.

DAWN has been the topic of several analyst reports. Wedbush reaffirmed an "outperform" rating and set a $25.00 target price on shares of Day One Biopharmaceuticals in a research report on Wednesday, May 7th. Needham & Company LLC dropped their price objective on Day One Biopharmaceuticals from $30.00 to $27.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th.

Day One Biopharmaceuticals Stock Up 1.4%

Shares of DAWN stock opened at $6.74 on Tuesday. Day One Biopharmaceuticals has a twelve month low of $6.08 and a twelve month high of $16.76. The firm has a market capitalization of $683.17 million, a P/E ratio of -9.49 and a beta of -1.26. The stock's fifty day simple moving average is $6.71 and its 200 day simple moving average is $8.16.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.35) EPS for the quarter, beating analysts' consensus estimates of ($0.46) by $0.11. The business had revenue of $30.76 million during the quarter, compared to analyst estimates of $30.28 million. Day One Biopharmaceuticals had a negative return on equity of 14.98% and a negative net margin of 42.66%. As a group, equities research analysts expect that Day One Biopharmaceuticals will post -0.72 EPS for the current fiscal year.

Insider Activity

In other news, General Counsel Adam Dubow sold 4,552 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $6.26, for a total transaction of $28,495.52. Following the completion of the sale, the general counsel directly owned 47,136 shares of the company's stock, valued at $295,071.36. This trade represents a 8.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Charles N. York II sold 4,282 shares of Day One Biopharmaceuticals stock in a transaction on Friday, May 16th. The stock was sold at an average price of $6.26, for a total value of $26,805.32. Following the sale, the chief financial officer owned 265,231 shares in the company, valued at $1,660,346.06. The trade was a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,725 shares of company stock valued at $167,299 over the last three months. Corporate insiders own 6.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAWN. Teacher Retirement System of Texas raised its stake in shares of Day One Biopharmaceuticals by 18.4% in the second quarter. Teacher Retirement System of Texas now owns 17,721 shares of the company's stock valued at $115,000 after buying an additional 2,750 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Day One Biopharmaceuticals in the 2nd quarter worth about $1,830,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Day One Biopharmaceuticals in the 2nd quarter valued at about $76,000. GC Wealth Management RIA LLC purchased a new stake in Day One Biopharmaceuticals during the second quarter valued at about $520,000. Finally, Rhumbline Advisers lifted its holdings in Day One Biopharmaceuticals by 8.3% during the first quarter. Rhumbline Advisers now owns 81,844 shares of the company's stock valued at $649,000 after purchasing an additional 6,291 shares during the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

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.

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