Day One Biopharmaceuticals’ (DAWN) Neutral Rating Reiterated at Wedbush

Wedbush restated their neutral rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a report issued on Monday,Benzinga reports. The firm currently has a $21.50 price target on the stock, down from their previous price target of $30.00.

Several other analysts have also issued reports on the stock. TD Cowen lowered shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. Oppenheimer reiterated a “market perform” rating on shares of Day One Biopharmaceuticals in a report on Friday, March 6th. Zacks Research downgraded Day One Biopharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research report on Monday, December 29th. Finally, Needham & Company LLC lowered Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, March 6th. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Day One Biopharmaceuticals presently has an average rating of “Hold” and a consensus price target of $23.75.

Day One Biopharmaceuticals Price Performance

Day One Biopharmaceuticals stock opened at $21.25 on Monday. The stock has a market capitalization of $2.20 billion, a PE ratio of -20.63 and a beta of -1.25. The business has a 50 day simple moving average of $11.82 and a 200-day simple moving average of $9.36. Day One Biopharmaceuticals has a 12 month low of $5.64 and a 12 month high of $21.43.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its earnings results on Tuesday, February 24th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). The business had revenue of $53.72 million for the quarter, compared to analysts’ expectations of $49.81 million. Day One Biopharmaceuticals had a negative net margin of 67.85% and a negative return on equity of 23.43%. On average, equities research analysts anticipate that Day One Biopharmaceuticals will post -0.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael Vasconcelles sold 2,728 shares of the company’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 value of $31,644.80. Following the transaction, the insider directly owned 4,397 shares in the company, valued at approximately $51,005.20. This represents a 38.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Adam Dubow sold 6,395 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total value of $74,182.00. Following the completion of the transaction, the insider owned 72,694 shares of the company’s stock, valued at $843,250.40. The trade was a 8.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 36,461 shares of company stock worth $422,948 over the last ninety days. 6.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several large investors have recently modified their holdings of DAWN. Federated Hermes Inc. purchased a new position in shares of Day One Biopharmaceuticals during the 3rd quarter worth $39,000. Mirae Asset Global Investments Co. Ltd. lifted its position 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 buying an additional 1,029 shares during the last quarter. Ameritas Investment Partners Inc. boosted its stake in Day One Biopharmaceuticals by 44.5% during the second quarter. Ameritas Investment Partners Inc. now owns 7,349 shares of the company’s stock worth $48,000 after buying an additional 2,264 shares during the period. Quarry LP purchased a new position in Day One Biopharmaceuticals during the third quarter worth about $49,000. Finally, Entropy Technologies LP acquired a new stake in shares of Day One Biopharmaceuticals during the second quarter valued at about $67,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

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.