Day One Biopharmaceuticals (NASDAQ:DAWN) Shares Gap Up Following Analyst Upgrade

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s share price gapped up prior to trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $32.00 to $36.00. The stock had previously closed at $14.96, but opened at $15.39. JPMorgan Chase & Co. currently has an overweight rating on the stock. Day One Biopharmaceuticals shares last traded at $14.91, with a volume of 150,318 shares.

Several other brokerages also recently weighed in on DAWN. Piper Sandler reaffirmed an “overweight” rating and issued a $40.00 target price on shares of Day One Biopharmaceuticals in a report on Tuesday, March 26th. Oppenheimer reissued a “market perform” rating on shares of Day One Biopharmaceuticals in a report on Tuesday, February 27th. Finally, The Goldman Sachs Group dropped their price objective on shares of Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Day One Biopharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.83.

Insider Buying and Selling at Day One Biopharmaceuticals

In other news, insider Samuel C. Blackman sold 2,258 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.25, for a total transaction of $34,434.50. Following the sale, the insider now directly owns 1,244,662 shares in the company, valued at approximately $18,981,095.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, General Counsel Adam Dubow sold 3,242 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.25, for a total value of $49,440.50. Following the sale, the general counsel now directly owns 16,585 shares of the company’s stock, valued at approximately $252,921.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Samuel C. Blackman sold 2,258 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.25, for a total transaction of $34,434.50. Following the completion of the sale, the insider now directly owns 1,244,662 shares in the company, valued at $18,981,095.50. The disclosure for this sale can be found here. Insiders sold 55,781 shares of company stock valued at $883,160 in the last 90 days. Insiders own 8.40% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC grew its stake in Day One Biopharmaceuticals by 58.7% in the 3rd quarter. SG Americas Securities LLC now owns 36,980 shares of the company’s stock worth $454,000 after acquiring an additional 13,683 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Day One Biopharmaceuticals by 22.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 220,296 shares of the company’s stock worth $2,703,000 after acquiring an additional 40,387 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Day One Biopharmaceuticals by 24.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 43,567 shares of the company’s stock worth $535,000 after acquiring an additional 8,522 shares in the last quarter. TD Asset Management Inc grew its stake in Day One Biopharmaceuticals by 100.0% in the 3rd quarter. TD Asset Management Inc now owns 55,196 shares of the company’s stock worth $677,000 after acquiring an additional 27,598 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its stake in Day One Biopharmaceuticals by 89.5% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 53,803 shares of the company’s stock worth $660,000 after acquiring an additional 25,414 shares in the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Day One Biopharmaceuticals Stock Performance

The firm has a market capitalization of $1.45 billion, a P/E ratio of -6.99 and a beta of -1.48. The stock’s 50 day simple moving average is $15.27 and its 200 day simple moving average is $13.78.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its earnings results on Monday, February 26th. The company reported ($0.64) EPS for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). On average, analysts anticipate that Day One Biopharmaceuticals, Inc. will post -2.66 earnings per share for the current year.

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.