Day One Biopharmaceuticals (NASDAQ:DAWN) Sees Unusually-High Trading Volume on Analyst Upgrade

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report) saw unusually-strong trading volume on Wednesday after Needham & Company LLC raised their price target on the stock from $30.00 to $33.00. Needham & Company LLC currently has a buy rating on the stock. Approximately 1,343,090 shares changed hands during trading, an increase of 85% from the previous session's volume of 726,171 shares.The stock last traded at $15.66 and had previously closed at $16.64.

A number of other brokerages have also issued reports on DAWN. The Goldman Sachs Group dropped their target price on Day One Biopharmaceuticals from $50.00 to $44.00 and set a "buy" rating on the stock in a research report on Tuesday, February 27th. Piper Sandler reissued an "overweight" rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a report on Tuesday, March 26th. JPMorgan Chase & Co. boosted their price objective on Day One Biopharmaceuticals from $32.00 to $36.00 and gave the company an "overweight" rating in a report on Monday. Finally, Oppenheimer reissued a "market perform" rating on shares of Day One Biopharmaceuticals in a report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $39.33.

Insider Buying and Selling at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, CFO Charles N. York II sold 2,666 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.25, for a total value of $40,656.50. Following the completion of the transaction, the chief financial officer now directly owns 277,754 shares in the company, valued at $4,235,748.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Samuel C. Blackman sold 20,000 shares of the business's stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $16.11, for a total transaction of $322,200.00. Following the completion of the transaction, the insider now directly owns 1,224,662 shares in the company, valued at $19,729,304.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Charles N. York II sold 2,666 shares of the business's stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.25, for a total value of $40,656.50. Following the transaction, the chief financial officer now owns 277,754 shares of the company's stock, valued at $4,235,748.50. The disclosure for this sale can be found here. Insiders sold a total of 55,781 shares of company stock worth $883,160 over the last ninety days. Company insiders own 8.40% of the company's stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in DAWN. First Turn Management LLC acquired a new position in shares of Day One Biopharmaceuticals during the fourth quarter worth approximately $24,834,000. TimesSquare Capital Management LLC raised its holdings in Day One Biopharmaceuticals by 45.8% during the fourth quarter. TimesSquare Capital Management LLC now owns 1,666,065 shares of the company's stock worth $24,325,000 after purchasing an additional 523,455 shares in the last quarter. Braidwell LP raised its holdings in Day One Biopharmaceuticals by 13.5% during the fourth quarter. Braidwell LP now owns 4,215,573 shares of the company's stock worth $61,547,000 after purchasing an additional 500,000 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Day One Biopharmaceuticals by 28.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,118,849 shares of the company's stock worth $30,935,000 after purchasing an additional 472,654 shares in the last quarter. Finally, Superstring Capital Management LP bought a new position in shares of Day One Biopharmaceuticals in the fourth quarter valued at $5,543,000. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Day One Biopharmaceuticals Price Performance

The company has a market cap of $1.33 billion, a P/E ratio of -6.38 and a beta of -1.48. The company has a fifty day simple moving average of $15.28 and a 200-day simple moving average of $13.79.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last posted its quarterly earnings results on Monday, February 26th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). On average, analysts anticipate that Day One Biopharmaceuticals, Inc. will post -2.66 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.