Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Receives $35.71 Average Price Target from Brokerages

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) has earned an average recommendation of “Buy” from the nine ratings firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $35.71.

A number of equities research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 price target on shares of Day One Biopharmaceuticals in a report on Thursday, October 31st. TD Cowen upgraded Day One Biopharmaceuticals to a “strong-buy” rating in a research note on Monday, November 4th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $40.00 price target on shares of Day One Biopharmaceuticals in a research report on Thursday, October 31st.

Insider Activity

In other news, insider Samuel C. Blackman sold 11,245 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $16.03, for a total value of $180,257.35. Following the sale, the insider now directly owns 1,085,790 shares of the company’s stock, valued at approximately $17,405,213.70. This represents a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 51,745 shares of company stock worth $748,567. 8.40% of the stock is owned by corporate insiders.

Institutional Trading of Day One Biopharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Day One Biopharmaceuticals by 38.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,611 shares of the company’s stock worth $51,000 after purchasing an additional 1,002 shares during the period. Quest Partners LLC boosted its position in shares of Day One Biopharmaceuticals by 9,238.6% during the 3rd quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock valued at $108,000 after acquiring an additional 7,668 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Day One Biopharmaceuticals during the second quarter worth about $113,000. Point72 DIFC Ltd bought a new position in shares of Day One Biopharmaceuticals in the second quarter worth approximately $124,000. Finally, Hsbc Holdings PLC purchased a new stake in Day One Biopharmaceuticals in the second quarter valued at approximately $163,000. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Day One Biopharmaceuticals Price Performance

NASDAQ DAWN opened at $12.67 on Monday. The business’s fifty day moving average is $13.95 and its 200-day moving average is $14.01. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of -12.30 and a beta of -1.51. Day One Biopharmaceuticals has a one year low of $11.94 and a one year high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of ($0.20) by $0.58. The company had revenue of $93.76 million during the quarter, compared to the consensus estimate of $15.05 million. During the same period in the prior year, the firm posted ($0.54) EPS. Research analysts expect that Day One Biopharmaceuticals will post -0.88 EPS for the current fiscal 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.