Day One Biopharmaceuticals (NASDAQ:DAWN) Given New $34.00 Price Target at JPMorgan Chase & Co.

Day One Biopharmaceuticals (NASDAQ:DAWN) had its price objective trimmed by JPMorgan Chase & Co. from $39.00 to $34.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

DAWN has been the subject of a number of other reports. Wedbush restated an “outperform” rating and set a $32.00 price objective on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. The Goldman Sachs Group reduced their price objective on shares of Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, February 10th. 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 note on Tuesday, January 7th. Needham & Company LLC restated a “buy” rating and set a $32.00 price objective on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. Finally, HC Wainwright reduced their price objective on shares of Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Day One Biopharmaceuticals currently has an average rating of “Buy” and a consensus target price of $34.57.

Day One Biopharmaceuticals Trading Up 12.8 %

Shares of NASDAQ DAWN opened at $9.70 on Wednesday. Day One Biopharmaceuticals has a 12 month low of $8.02 and a 12 month high of $18.07. The firm has a market capitalization of $983.14 million, a PE ratio of -9.42 and a beta of -1.46. The firm has a fifty day simple moving average of $11.93 and a two-hundred day simple moving average of $13.27.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.34). The company had revenue of $29.21 million for the quarter, compared to the consensus estimate of $27.11 million. On average, sell-side analysts predict that Day One Biopharmaceuticals will post -0.72 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jeremy Bender sold 12,048 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $144,094.08. Following the transaction, the chief executive officer now owns 128,015 shares of the company’s stock, valued at approximately $1,531,059.40. This trade represents a 8.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Samuel C. Blackman sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was 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 in the company, valued at approximately $13,762,739.65. The trade was 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 valued at $651,225. 8.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Day One Biopharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DAWN. GF Fund Management CO. LTD. bought a new stake in Day One Biopharmaceuticals during the 4th quarter worth approximately $27,000. R Squared Ltd bought a new stake in Day One Biopharmaceuticals during the 4th quarter worth approximately $31,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Day One Biopharmaceuticals by 38.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,611 shares of the company’s stock valued at $51,000 after buying an additional 1,002 shares during the last quarter. Quest Partners LLC raised its position in shares of Day One Biopharmaceuticals by 9,238.6% during the third quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock valued at $108,000 after buying an additional 7,668 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Day One Biopharmaceuticals by 911.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,657 shares of the company’s stock valued at $135,000 after buying an additional 9,603 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.