Wedbush Reaffirms Neutral Rating for Day One Biopharmaceuticals (NASDAQ:DAWN)

Key Points

• Wedbush reaffirmed a "neutral" rating on Day One Biopharmaceuticals and cut its price target to $21.50 (from $30.00), implying only about a 1.42% upside from the current price.
• Analyst coverage is mixed with a consensus rating of "Hold" (4 Buys, 6 Holds, 1 Sell) and an average target of $24.50, while several brokers recently trimmed targets or downgraded the stock.
• Day One reported a Q4 EPS loss of ($0.21) (missing estimates) but beat revenue at $53.7M; the company remains unprofitable and insiders have been net sellers (36,461 shares sold in the last 90 days), with insiders owning 6.2% of shares.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report)'s stock had its "neutral" rating reaffirmed by Wedbush in a report issued on Monday,Benzinga reports. They currently have a $21.50 price target on the stock, down from their previous price target of $30.00. Wedbush's price objective suggests a potential upside of 1.42% from the stock's current price.

A number of other brokerages also recently commented on DAWN. Needham & Company LLC downgraded shares of Day One Biopharmaceuticals from a "buy" rating to a "hold" rating in a report on Friday. HC Wainwright reduced their price objective on shares of Day One Biopharmaceuticals from $25.00 to $22.00 and set a "buy" rating on the stock in a research note on Wednesday, February 25th. Weiss Ratings restated a "sell (d-)" rating on shares of Day One Biopharmaceuticals in a research report on Monday, December 29th. Zacks Research downgraded Day One Biopharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 25th. Finally, Oppenheimer reissued a "market perform" rating on shares of Day One Biopharmaceuticals in a research note on Friday. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $24.50.

Day One Biopharmaceuticals Price Performance

Shares of Day One Biopharmaceuticals stock opened at $21.20 on Monday. Day One Biopharmaceuticals has a 1 year low of $5.64 and a 1 year high of $21.23. The business has a 50 day moving average price of $11.10 and a 200 day moving average price of $9.08. The company has a market capitalization of $2.19 billion, a P/E ratio of -20.58 and a beta of -1.25.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.04). The company had revenue of $53.72 million for the quarter, compared to analysts' expectations of $49.81 million. Day One Biopharmaceuticals had a negative return on equity of 23.43% and a negative net margin of 67.85%. As a group, research analysts expect that Day One Biopharmaceuticals will post -0.72 EPS for the current fiscal year.

Insider Buying and Selling at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, CEO Jeremy Bender sold 15,459 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $11.60, for a total transaction of $179,324.40. Following the transaction, the chief executive officer directly owned 204,603 shares of the company's stock, valued at $2,373,394.80. The trade was a 7.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Lauren Merendino sold 5,814 shares of the business's stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total transaction of $67,442.40. Following the sale, the insider owned 60,157 shares of the company's stock, valued at approximately $697,821.20. This represents a 8.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 36,461 shares of company stock worth $422,948. Company insiders own 6.20% of the company's stock.

Institutional Trading of Day One Biopharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in DAWN. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Day One Biopharmaceuticals by 26.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,989 shares of the company's stock valued at $46,000 after purchasing an additional 1,029 shares during the last quarter. Los Angeles Capital Management LLC raised its position in shares of Day One Biopharmaceuticals by 1.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 100,314 shares of the company's stock valued at $935,000 after purchasing an additional 1,425 shares in the last quarter. Perkins Capital Management Inc. boosted its stake in shares of Day One Biopharmaceuticals by 2.1% during the 4th quarter. Perkins Capital Management Inc. now owns 84,000 shares of the company's stock valued at $783,000 after buying an additional 1,750 shares during the last quarter. CWM LLC grew its position in shares of Day One Biopharmaceuticals by 32.4% during the fourth quarter. CWM LLC now owns 8,373 shares of the company's stock worth $78,000 after buying an additional 2,051 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in shares of Day One Biopharmaceuticals by 12.9% during the second quarter. ProShare Advisors LLC now owns 18,545 shares of the company's stock worth $121,000 after buying an additional 2,121 shares in the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Day One Biopharmaceuticals Company Profile

Day One Biopharmaceuticals, Inc NASDAQ: DAWN is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted therapies for oncology. The company employs a precision medicine approach, leveraging biomarker-driven strategies to identify patient populations most likely to respond to its investigational compounds. By concentrating on well-validated molecular drivers of cancer, Day One seeks to deliver first-in-class or best-in-class therapies with the potential for meaningful clinical benefit.

The company's pipeline includes several small-molecule candidates in various stages of development.

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