Day One Biopharmaceuticals (NASDAQ:DAWN) Shares Up 12.2% on Analyst Upgrade

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) were up 12.2% on Tuesday after Needham & Company LLC raised their price target on the stock from $30.00 to $33.00. Needham & Company LLC currently has a buy rating on the stock. Day One Biopharmaceuticals traded as high as $17.39 and last traded at $17.26. Approximately 3,653,007 shares traded hands during trading, an increase of 457% from the average daily volume of 656,201 shares. The stock had previously closed at $15.38.

A number of other brokerages have also recently commented on DAWN. The Goldman Sachs Group cut their price target on shares of Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Piper Sandler restated an “overweight” rating and set a $40.00 price target on shares of Day One Biopharmaceuticals in a research note on Tuesday, March 26th. Oppenheimer reiterated a “market perform” rating on shares of Day One Biopharmaceuticals in a research note on Tuesday, February 27th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Day One Biopharmaceuticals from $32.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $39.33.

Insider Buying and Selling

In related news, insider Samuel C. Blackman sold 2,258 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.25, for a total value of $34,434.50. Following the completion of the transaction, the insider now owns 1,244,662 shares in the company, valued at approximately $18,981,095.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Samuel C. Blackman sold 2,258 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.25, for a total value of $34,434.50. Following the completion of the transaction, the insider now owns 1,244,662 shares in the company, valued at approximately $18,981,095.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeremy Bender sold 7,615 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.25, for a total transaction of $116,128.75. Following the completion of the transaction, the chief executive officer now owns 721,813 shares of the company’s stock, valued at approximately $11,007,648.25. The disclosure for this sale can be found here. Insiders sold 55,781 shares of company stock worth $883,160 in the last quarter. Insiders own 8.40% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

A number of institutional investors have recently bought and sold shares of DAWN. SG Americas Securities LLC grew its holdings in shares of Day One Biopharmaceuticals by 58.7% in the 3rd quarter. SG Americas Securities LLC now owns 36,980 shares of the company’s stock valued at $454,000 after buying an additional 13,683 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of 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 valued at $2,703,000 after buying an additional 40,387 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of 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 valued at $535,000 after buying an additional 8,522 shares during the period. TD Asset Management Inc grew its holdings in shares of Day One Biopharmaceuticals by 100.0% in the 3rd quarter. TD Asset Management Inc now owns 55,196 shares of the company’s stock valued at $677,000 after buying an additional 27,598 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of 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 valued at $660,000 after buying an additional 25,414 shares during the period. Institutional investors and hedge funds own 87.95% of the company’s stock.

Day One Biopharmaceuticals Trading Down 8.7 %

The company has a market cap of $1.33 billion, a price-to-earnings ratio of -6.38 and a beta of -1.48. The firm’s fifty day moving average price is $15.28 and its 200-day moving average price is $13.79.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings results on Monday, February 26th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). As a group, research analysts anticipate that Day One Biopharmaceuticals, Inc. will post -2.66 EPS 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.