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Weiss Ratings Reiterates Sell (E+) Rating for Day One Biopharmaceuticals (NASDAQ:DAWN)

Day One Biopharmaceuticals logo with Medical background

Key Points

  • Weiss Ratings has reaffirmed a "sell (E+)" rating for Day One Biopharmaceuticals (NASDAQ:DAWN), indicating continued concerns about the stock's performance.
  • Despite this, other analysts have varying ratings for the company, with Piper Sandler issuing an "overweight" rating and a target price of $25, while Needham & Company lowered its target from $18 to $16.
  • Day One Biopharmaceuticals' shares experienced a 2.0% increase on Wednesday, reaching $7.56, after previously reporting earnings that beat estimates but fell short on revenue projections.
  • MarketBeat previews the top five stocks to own by November 1st.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by equities researchers at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Other equities analysts have also issued research reports about the company. Piper Sandler began coverage on Day One Biopharmaceuticals in a research note on Monday, August 18th. They issued an "overweight" rating and a $25.00 target price on the stock. Needham & Company LLC cut their target price 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. Finally, HC Wainwright lowered their price target on Day One Biopharmaceuticals from $36.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $25.29.

View Our Latest Report on DAWN

Day One Biopharmaceuticals Trading Up 2.0%

Shares of Day One Biopharmaceuticals stock traded up $0.15 during trading on Wednesday, hitting $7.56. 1,199,813 shares of the stock traded hands, compared to its average volume of 1,392,349. The stock's fifty day simple moving average is $6.99 and its 200 day simple moving average is $6.95. Day One Biopharmaceuticals has a 52-week low of $5.64 and a 52-week high of $16.76. The firm has a market cap of $774.37 million, a P/E ratio of -7.96 and a beta of -1.26.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $35.55 million. As a group, equities analysts expect that Day One Biopharmaceuticals will post -0.72 EPS for the current year.

Insider Transactions at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, CEO Jeremy Bender sold 16,058 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $6.77, for a total value of $108,712.66. Following the completion of the transaction, the chief executive officer directly owned 161,365 shares of the company's stock, valued at approximately $1,092,441.05. The trade was a 9.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Charles N. York II sold 4,106 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $6.77, for a total value of $27,797.62. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,295 shares of company stock worth $191,557. 6.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Hudson Bay Capital Management LP lifted its holdings in Day One Biopharmaceuticals by 12.7% in the second quarter. Hudson Bay Capital Management LP now owns 1,296,700 shares of the company's stock valued at $8,429,000 after acquiring an additional 146,300 shares during the period. Vestal Point Capital LP lifted its holdings in Day One Biopharmaceuticals by 15.5% in the second quarter. Vestal Point Capital LP now owns 3,000,000 shares of the company's stock valued at $19,500,000 after acquiring an additional 401,873 shares during the period. Man Group plc lifted its holdings in Day One Biopharmaceuticals by 46.1% in the second quarter. Man Group plc now owns 56,862 shares of the company's stock valued at $370,000 after acquiring an additional 17,950 shares during the period. Lazard Asset Management LLC purchased a new stake in shares of Day One Biopharmaceuticals in the second quarter valued at approximately $89,000. Finally, Bayesian Capital Management LP increased its position in shares of Day One Biopharmaceuticals by 56.1% in the second quarter. Bayesian Capital Management LP now owns 28,100 shares of the company's stock valued at $183,000 after buying an additional 10,100 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

About Day One Biopharmaceuticals

(Get Free Report)

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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Analyst Recommendations for Day One Biopharmaceuticals (NASDAQ:DAWN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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