The Goldman Sachs Group Has Lowered Expectations for Day One Biopharmaceuticals (NASDAQ:DAWN) Stock Price

Day One Biopharmaceuticals (NASDAQ:DAWN) had its price target reduced by analysts at The Goldman Sachs Group from $39.00 to $27.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 232.51% from the company’s previous close.

A number of other research firms have also recently weighed in on DAWN. Wedbush reaffirmed an “outperform” rating and set a $32.00 price objective on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. JPMorgan Chase & Co. dropped their price target on shares of Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Needham & Company LLC restated a “buy” rating and set a $32.00 price objective on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. Bank of America lowered their target price on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Finally, HC Wainwright decreased their price target on Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Day One Biopharmaceuticals has a consensus rating of “Buy” and a consensus target price of $32.29.

Day One Biopharmaceuticals Trading Down 1.9 %

Shares of DAWN stock opened at $8.12 on Tuesday. The company has a 50 day simple moving average of $10.77 and a two-hundred day simple moving average of $12.69. The stock has a market cap of $823.00 million, a P/E ratio of -7.88 and a beta of -1.38. Day One Biopharmaceuticals has a 12 month low of $7.88 and a 12 month high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its earnings results on Tuesday, February 25th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.34). The company had revenue of $29.21 million during the quarter, compared to the consensus estimate of $27.11 million. As a group, equities analysts forecast that Day One Biopharmaceuticals will post -0.72 earnings per share for the current year.

Insider Buying and Selling at Day One Biopharmaceuticals

In related news, CFO Charles N. York II sold 4,370 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total transaction of $52,265.20. Following the sale, the chief financial officer now owns 252,638 shares of the company’s stock, valued at $3,021,550.48. This represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Adam Dubow sold 4,646 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total transaction of $55,566.16. Following the completion of the transaction, the general counsel now directly owns 39,602 shares of the company’s stock, valued at $473,639.92. The trade was a 10.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,064 shares of company stock valued at $251,925 in the last 90 days. Insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DAWN. Algert Global LLC lifted its stake in shares of Day One Biopharmaceuticals by 248.8% in the 3rd quarter. Algert Global LLC now owns 71,487 shares of the company’s stock valued at $996,000 after purchasing an additional 50,990 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Day One Biopharmaceuticals during the 4th quarter valued at $866,000. Charles Schwab Investment Management Inc. lifted its position in Day One Biopharmaceuticals by 14.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 507,448 shares of the company’s stock worth $7,069,000 after buying an additional 64,700 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in Day One Biopharmaceuticals by 90.6% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 121,167 shares of the company’s stock worth $1,535,000 after buying an additional 57,601 shares during the period. Finally, Geode Capital Management LLC increased its position in Day One Biopharmaceuticals by 10.5% during the third quarter. Geode Capital Management LLC now owns 1,432,697 shares of the company’s stock valued at $19,961,000 after acquiring an additional 136,458 shares during the last quarter. Institutional investors own 87.95% of the company’s stock.

About Day One Biopharmaceuticals

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.