Day One Biopharmaceuticals (NASDAQ:DAWN) Price Target Cut to $36.00 by Analysts at HC Wainwright

Day One Biopharmaceuticals (NASDAQ:DAWN) had its target price dropped by equities research analysts at HC Wainwright from $40.00 to $36.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s price objective points to a potential upside of 204.57% from the stock’s current price.

Several other research firms have also weighed in on DAWN. Needham & Company LLC reissued a “buy” rating and issued a $33.00 price objective on shares of Day One Biopharmaceuticals in a research report on Monday, January 13th. The Goldman Sachs Group lowered their target price on Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating for the company in a report on Monday, February 10th. TD Cowen upgraded Day One Biopharmaceuticals to a “strong-buy” rating in a report on Monday, November 4th. Finally, Bank of America reduced their price objective on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $35.00.

Day One Biopharmaceuticals Stock Performance

Day One Biopharmaceuticals stock opened at $11.82 on Wednesday. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of -11.48 and a beta of -1.46. Day One Biopharmaceuticals has a 52-week low of $11.13 and a 52-week high of $18.07. The firm has a 50 day moving average price of $12.34 and a two-hundred day moving average price of $13.46.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its earnings results on Tuesday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.34). As a group, equities research analysts predict that Day One Biopharmaceuticals will post -0.72 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, General Counsel Adam Dubow sold 4,646 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $55,566.16. Following the completion of the sale, the general counsel now owns 39,602 shares of the company’s stock, valued at approximately $473,639.92. This trade represents a 10.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Samuel C. Blackman sold 30,000 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $13.31, for a total transaction of $399,300.00. Following the sale, the insider now owns 1,034,015 shares of the company’s stock, valued at $13,762,739.65. This trade represents a 2.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,064 shares of company stock worth $651,225. Corporate insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. FMR LLC increased its position in shares of Day One Biopharmaceuticals by 73.9% during the fourth quarter. FMR LLC now owns 12,887,467 shares of the company’s stock worth $163,284,000 after acquiring an additional 5,475,087 shares in the last quarter. Braidwell LP increased its holdings in Day One Biopharmaceuticals by 60.5% during the 3rd quarter. Braidwell LP now owns 4,873,853 shares of the company’s stock worth $67,893,000 after purchasing an additional 1,837,949 shares in the last quarter. Franklin Resources Inc. increased its holdings in Day One Biopharmaceuticals by 0.3% during the 4th quarter. Franklin Resources Inc. now owns 3,882,952 shares of the company’s stock worth $49,197,000 after purchasing an additional 13,320 shares in the last quarter. Estuary Capital Management LP raised its stake in shares of Day One Biopharmaceuticals by 35.5% in the fourth quarter. Estuary Capital Management LP now owns 3,716,777 shares of the company’s stock worth $47,092,000 after purchasing an additional 972,997 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of Day One Biopharmaceuticals by 17.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,490,064 shares of the company’s stock valued at $44,219,000 after purchasing an additional 507,398 shares in the last quarter. 87.95% of the stock is owned by institutional investors.

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.