Day One Biopharmaceuticals (NASDAQ:DAWN) Given New $27.00 Price Target at Needham & Company LLC

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) had its price objective lowered by equities researchers at Needham & Company LLC from $30.00 to $27.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price objective indicates a potential upside of 302.08% from the stock's current price.

A number of other research firms have also commented on DAWN. HC Wainwright restated a "buy" rating and issued a $36.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, April 3rd. JPMorgan Chase & Co. dropped their price target on Day One Biopharmaceuticals from $39.00 to $34.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 5th. Bank of America decreased their price objective on Day One Biopharmaceuticals from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group dropped their target price on Day One Biopharmaceuticals from $39.00 to $27.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. Finally, Wedbush reaffirmed an "outperform" rating and set a $32.00 price target on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Day One Biopharmaceuticals has an average rating of "Buy" and a consensus price target of $30.57.

Day One Biopharmaceuticals Stock Up 4.1%

NASDAQ:DAWN traded up $0.27 during mid-day trading on Wednesday, reaching $6.72. 601,745 shares of the stock were exchanged, compared to its average volume of 1,077,179. The stock has a market capitalization of $680.65 million, a P/E ratio of -6.50 and a beta of -1.24. Day One Biopharmaceuticals has a 1 year low of $6.26 and a 1 year high of $17.14. The company has a 50 day simple moving average of $7.70 and a 200-day simple moving average of $11.05.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.46) by $0.11. The business had revenue of $30.76 million for the quarter, compared to analysts' expectations of $30.28 million. As a group, research analysts predict that Day One Biopharmaceuticals will post -0.72 EPS for the current year.

Insider Activity

In other Day One Biopharmaceuticals news, CEO Jeremy Bender sold 12,048 shares of Day One Biopharmaceuticals stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total transaction of $144,094.08. Following the completion of the transaction, the chief executive officer now owns 128,015 shares in the company, valued at approximately $1,531,059.40. The trade was a 8.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Adam Dubow sold 4,646 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total transaction of $55,566.16. Following the completion of the sale, the general counsel now owns 39,602 shares in the company, valued at $473,639.92. This represents a 10.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 21,064 shares of company stock worth $251,925 over the last 90 days. 6.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DAWN. GF Fund Management CO. LTD. purchased a new position in Day One Biopharmaceuticals during the fourth quarter worth $27,000. R Squared Ltd purchased a new position in Day One Biopharmaceuticals in the 4th quarter valued at about $31,000. Pallas Capital Advisors LLC acquired a new stake in shares of Day One Biopharmaceuticals during the 1st quarter worth about $87,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Day One Biopharmaceuticals during the first quarter worth about $88,000. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Day One Biopharmaceuticals by 19.6% during the first quarter. Exchange Traded Concepts LLC now owns 14,693 shares of the company's stock worth $117,000 after buying an additional 2,407 shares in the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

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.