Day One Biopharmaceuticals’ (DAWN) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a research note published on Monday morning,Benzinga reports. The firm currently has a $25.00 price target on the stock.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and issued a $16.00 target price on shares of Day One Biopharmaceuticals in a report on Monday. Piper Sandler raised their price objective on shares of Day One Biopharmaceuticals from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Day One Biopharmaceuticals in a research report on Wednesday, November 19th. JPMorgan Chase & Co. boosted their target price on shares of Day One Biopharmaceuticals from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Zacks Research raised Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Day One Biopharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $24.43.

Day One Biopharmaceuticals Stock Down 0.2%

Shares of NASDAQ DAWN opened at $9.41 on Monday. The stock’s fifty day simple moving average is $7.85 and its 200 day simple moving average is $7.14. The stock has a market capitalization of $966.22 million, a price-to-earnings ratio of -6.19 and a beta of -1.25. Day One Biopharmaceuticals has a 52-week low of $5.64 and a 52-week high of $14.46.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.09. The business had revenue of $39.80 million during the quarter, compared to analyst estimates of $38.20 million. Day One Biopharmaceuticals had a negative return on equity of 32.05% and a negative net margin of 113.53%.Day One Biopharmaceuticals’s revenue for the quarter was down 57.6% on a year-over-year basis. During the same quarter last year, the company posted $0.38 EPS. As a group, analysts anticipate that Day One Biopharmaceuticals will post -0.72 earnings per share for the current year.

Insiders Place Their Bets

In other Day One Biopharmaceuticals news, insider Adam Dubow sold 4,319 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $8.91, for a total value of $38,482.29. Following the transaction, the insider directly owned 62,626 shares of the company’s stock, valued at $557,997.66. The trade was a 6.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Charles N. York II sold 4,062 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $8.91, for a total transaction of $36,192.42. Following the transaction, the chief financial officer owned 294,715 shares in the company, valued at approximately $2,625,910.65. The trade was a 1.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 28,001 shares of company stock worth $249,489. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Rubric Capital Management LP bought a new stake in Day One Biopharmaceuticals during the 3rd quarter worth about $23,808,000. Alyeska Investment Group L.P. raised its holdings in shares of Day One Biopharmaceuticals by 61.6% during the first quarter. Alyeska Investment Group L.P. now owns 4,059,764 shares of the company’s stock worth $32,194,000 after acquiring an additional 1,547,577 shares during the period. AIGH Capital Management LLC bought a new position in shares of Day One Biopharmaceuticals during the third quarter worth about $10,719,000. Mak Capital One LLC acquired a new position in Day One Biopharmaceuticals during the third quarter worth $10,212,000. Finally, Balyasny Asset Management L.P. bought a new stake in Day One Biopharmaceuticals during the third quarter worth about $9,758,000. 87.95% of the stock is owned by institutional investors.

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.