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

Key Points

• Day One Biopharmaceuticals (NASDAQ:DAWN) has received an average rating of "Buy" from ten analysts, with a twelve-month target price of $25.29.
• Insider trading activity includes CEO Jeremy Bender selling 16,058 shares at $6.77, decreasing his ownership by 9.05%.
• Significant institutional investment increases were noted, with Alyeska Investment Group boosting its stake by 61.6% to over 4 million shares.

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report) have earned an average rating of "Buy" from the ten analysts that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $25.2857.

DAWN has been the topic of a number of recent analyst reports. Zacks Research upgraded Day One Biopharmaceuticals from a "hold" rating to a "strong-buy" rating in a research report on Monday, October 13th. HC Wainwright decreased their price target on Day One Biopharmaceuticals from $36.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Piper Sandler initiated coverage on Day One Biopharmaceuticals in a research report on Monday, August 18th. They issued an "overweight" rating and a $25.00 price target on the stock. Weiss Ratings restated a "sell (e+)" rating on shares of Day One Biopharmaceuticals in a research report on Wednesday, October 8th. Finally, Needham & Company LLC reduced their price objective on 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.

Insiders Place Their Bets

In related news, CEO Jeremy Bender sold 16,058 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $6.77, for a total value of $108,712.66. Following the sale, the chief executive officer directly owned 161,365 shares of the company's stock, valued at $1,092,441.05. This trade represents a 9.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Adam Dubow sold 4,365 shares of the firm'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 $29,551.05. Following the completion of the sale, the insider directly owned 54,858 shares in the company, valued at $371,388.66. This trade represents a 7.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,295 shares of company stock valued at $191,557. 6.20% of the stock is owned by corporate insiders.

Institutional Trading of Day One Biopharmaceuticals

Large investors have recently bought and sold shares of the business. Alyeska Investment Group L.P. boosted its stake in shares of Day One Biopharmaceuticals by 61.6% during the first quarter. Alyeska Investment Group L.P. now owns 4,059,764 shares of the company's stock valued at $32,194,000 after purchasing an additional 1,547,577 shares in the last quarter. Vestal Point Capital LP boosted its stake in shares of Day One Biopharmaceuticals by 80.4% during the first quarter. Vestal Point Capital LP now owns 2,598,127 shares of the company's stock valued at $20,603,000 after purchasing an additional 1,158,127 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Day One Biopharmaceuticals by 587.2% during the first quarter. Millennium Management LLC now owns 1,320,095 shares of the company's stock valued at $10,468,000 after purchasing an additional 1,127,995 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Day One Biopharmaceuticals by 232.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,569,918 shares of the company's stock valued at $12,449,000 after purchasing an additional 1,097,679 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its stake in shares of Day One Biopharmaceuticals by 236.3% during the second quarter. Qube Research & Technologies Ltd now owns 944,202 shares of the company's stock valued at $6,137,000 after purchasing an additional 663,418 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Day One Biopharmaceuticals Price Performance

DAWN stock opened at $7.20 on Friday. The stock has a market capitalization of $737.50 million, a price-to-earnings ratio of -7.58 and a beta of -1.26. The business's fifty day moving average price is $7.12 and its two-hundred day moving average price is $6.91. Day One Biopharmaceuticals has a fifty-two week low of $5.64 and a fifty-two week high of $16.76.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last issued its quarterly earnings results 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 return on equity of 19.01% and a negative net margin of 50.63%.The company had revenue of $33.91 million for the quarter, compared to analysts' expectations of $35.55 million. Research analysts expect 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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