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

Key Points

• Analysts have given Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) an average rating of "Buy," with a consensus target price of $25.29 from eight brokerages.
• Insider transactions were notable, with CEO Jeremy Bender selling 16,058 shares at an average price of $6.77, resulting in a 9.05% decrease in his holdings.
• Day One Biopharmaceuticals reported revenue of $33.91 million for their last quarterly earnings, which was lower than analysts' expectations of $35.55 million.

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report) have been given a consensus recommendation of "Buy" by the eight brokerages that are currently covering the company, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $25.2857.

A number of equities research analysts have recently issued reports on the stock. Piper Sandler assumed coverage on shares of Day One Biopharmaceuticals in a research note on Monday, August 18th. They issued an "overweight" rating and a $25.00 target price on the stock. Needham & Company LLC cut 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, August 6th. Finally, HC Wainwright cut their target price on shares of Day One Biopharmaceuticals from $36.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th.

Insider Activity at Day One Biopharmaceuticals

In other news, CEO Jeremy Bender sold 16,058 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $6.77, for a total value of $108,712.66. Following the sale, the chief executive officer owned 161,365 shares in the company, valued at approximately $1,092,441.05. This represents a 9.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Adam Dubow sold 4,365 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $6.77, for a total transaction of $29,551.05. Following the completion of the sale, the insider owned 54,858 shares in the company, valued at approximately $371,388.66. This trade represents a 7.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,295 shares of company stock worth $191,557. Company insiders own 6.20% of the company's stock.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Institutional investors have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Day One Biopharmaceuticals during the 1st quarter valued at about $88,000. Rhumbline Advisers grew its position in shares of Day One Biopharmaceuticals by 8.3% during the 1st quarter. Rhumbline Advisers now owns 81,844 shares of the company's stock valued at $649,000 after buying an additional 6,291 shares during the last quarter. Millennium Management LLC grew its position in shares of Day One Biopharmaceuticals by 80.4% during the 4th quarter. Millennium Management LLC now owns 192,100 shares of the company's stock valued at $2,434,000 after buying an additional 85,606 shares during the last quarter. ProShare Advisors LLC grew its position in shares of Day One Biopharmaceuticals by 23.5% during the 4th quarter. ProShare Advisors LLC now owns 19,394 shares of the company's stock valued at $246,000 after buying an additional 3,687 shares during the last quarter. Finally, Ieq Capital LLC bought a new stake in shares of Day One Biopharmaceuticals during the 1st quarter valued at about $294,000. Institutional investors own 87.95% of the company's stock.

Day One Biopharmaceuticals Price Performance

Shares of DAWN stock opened at $6.84 on Wednesday. Day One Biopharmaceuticals has a 12 month low of $5.64 and a 12 month high of $16.76. The firm has a market capitalization of $700.62 million, a P/E ratio of -7.20 and a beta of -1.25. The company's fifty day moving average price is $6.91 and its two-hundred day moving average price is $7.04.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported ($0.29) EPS for the quarter, topping analysts' consensus estimates of ($0.35) by $0.06. Day One Biopharmaceuticals had a negative net margin of 50.63% and a negative return on equity of 19.01%. The firm had revenue of $33.91 million for the quarter, compared to analyst estimates of $35.55 million. On average, sell-side analysts anticipate that Day One Biopharmaceuticals will post -0.72 EPS for the current year.

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.

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