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

Key Points

• Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) has received a consensus rating of "Buy" from eight brokerages, with seven recommending a buy and one a strong buy, targeting an average price of $25.29 per share.
• The company reported earnings of ($0.29) per share, surpassing estimates but with revenue of $33.91 million, falling short of projections by analysts.
• Insider transactions showed a notable selling activity, with CEO Jeremy Bender and insider Adam Dubow selling substantial shares, indicating a 9.05% and 7.37% decrease in their stock ownership, respectively.

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report) have been given an average rating of "Buy" by the eight brokerages that are covering the company, MarketBeat Ratings reports. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $25.2857.

Several analysts have commented on DAWN shares. 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 price target on the stock. Wedbush reiterated an "outperform" rating and set a $25.00 price target on shares of Day One Biopharmaceuticals in a report on Wednesday, May 7th. HC Wainwright dropped 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. 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, August 6th.

Insider Buying and Selling at Day One Biopharmaceuticals

In other news, insider Adam Dubow sold 4,365 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $6.77, for a total transaction of $29,551.05. Following the transaction, the insider directly owned 54,858 shares in the company, valued at approximately $371,388.66. This trade represents a 7.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Charles N. York II sold 4,106 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $6.77, for a total transaction of $27,797.62. Following the sale, the chief financial officer directly owned 278,000 shares of the company's stock, valued at $1,882,060. The trade was a 1.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,295 shares of company stock valued at $191,557 in the last ninety days. Company insiders own 6.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Day One Biopharmaceuticals by 1.6% in the first quarter. Vanguard Group Inc. now owns 5,943,243 shares of the company's stock worth $47,130,000 after buying an additional 94,320 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Day One Biopharmaceuticals by 2.0% in the second quarter. Franklin Resources Inc. now owns 4,097,625 shares of the company's stock valued at $26,635,000 after purchasing an additional 79,255 shares during the period. Alyeska Investment Group L.P. grew its position in shares of Day One Biopharmaceuticals by 61.6% in 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 during the period. Estuary Capital Management LP lifted its stake in shares of Day One Biopharmaceuticals by 35.5% in the fourth quarter. Estuary Capital Management LP now owns 3,716,777 shares of the company's stock worth $47,092,000 after buying an additional 972,997 shares in the last quarter. Finally, Vestal Point Capital LP raised its stake in Day One Biopharmaceuticals by 15.5% during the second quarter. Vestal Point Capital LP now owns 3,000,000 shares of the company's stock worth $19,500,000 after purchasing an additional 401,873 shares during the period. Hedge funds and other institutional investors own 87.95% of the company's stock.

Day One Biopharmaceuticals Stock Performance

Shares of Day One Biopharmaceuticals stock traded down $0.07 on Friday, hitting $7.41. 640,227 shares of the company's stock were exchanged, compared to its average volume of 1,391,712. Day One Biopharmaceuticals has a 1 year low of $5.64 and a 1 year high of $16.76. The company has a 50-day simple moving average of $6.80 and a 200-day simple moving average of $7.35. The stock has a market capitalization of $759.01 million, a PE ratio of -7.80 and a beta of -1.25.

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 for the quarter, beating 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 company had revenue of $33.91 million for the quarter, compared to analysts' expectations of $35.55 million. On average, analysts expect that Day One Biopharmaceuticals will post -0.72 EPS for the current fiscal year.

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.