HC Wainwright Lowers Day One Biopharmaceuticals (NASDAQ:DAWN) Price Target to $40.00

Day One Biopharmaceuticals (NASDAQ:DAWN) had its target price decreased by equities research analysts at HC Wainwright from $50.00 to $40.00 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price objective suggests a potential upside of 143.75% from the stock’s current price.

A number of other research analysts have also weighed in on DAWN. JPMorgan Chase & Co. raised their price objective 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, April 22nd. Wedbush reissued an “outperform” rating and issued a $33.00 price target on shares of Day One Biopharmaceuticals in a report on Wednesday, April 24th. Needham & Company LLC lifted their price objective on shares of Day One Biopharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. The Goldman Sachs Group reduced their target price on shares of Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a research note on Tuesday, March 26th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $37.67.

Day One Biopharmaceuticals Stock Performance

Shares of DAWN opened at $16.41 on Tuesday. The firm has a market cap of $1.43 billion, a PE ratio of -6.89 and a beta of -1.44. Day One Biopharmaceuticals has a 52-week low of $9.67 and a 52-week high of $18.07. The business’s 50 day moving average price is $15.46 and its two-hundred day moving average price is $14.17.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly 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). Research analysts predict that Day One Biopharmaceuticals will post -2.67 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Charles N. York II sold 8,078 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $17.85, for a total value of $144,192.30. Following the transaction, the chief financial officer now owns 217,293 shares of the company’s stock, valued at $3,878,680.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Day One Biopharmaceuticals 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 of the company’s stock, valued at approximately $18,981,095.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Charles N. York II sold 8,078 shares of the firm’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.85, for a total value of $144,192.30. Following the sale, the chief financial officer now owns 217,293 shares in the company, valued at approximately $3,878,680.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 195,247 shares of company stock valued at $3,376,817. Company insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

A number of large investors have recently bought and sold shares of DAWN. China Universal Asset Management Co. Ltd. increased its holdings in Day One Biopharmaceuticals by 130.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,226 shares of the company’s stock valued at $27,000 after purchasing an additional 1,262 shares during the period. Quest Partners LLC purchased a new stake in Day One Biopharmaceuticals in the fourth quarter worth $29,000. Quintet Private Bank Europe S.A. boosted its holdings in Day One Biopharmaceuticals by 43.2% in the fourth quarter. Quintet Private Bank Europe S.A. now owns 3,313 shares of the company’s stock valued at $48,000 after acquiring an additional 1,000 shares in the last quarter. Amalgamated Bank increased its position in Day One Biopharmaceuticals by 35.7% during the 3rd quarter. Amalgamated Bank now owns 8,628 shares of the company’s stock valued at $106,000 after purchasing an additional 2,268 shares during the period. Finally, Exchange Traded Concepts LLC lifted its position in shares of Day One Biopharmaceuticals by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 10,072 shares of the company’s stock worth $147,000 after purchasing an additional 2,554 shares during the period. 87.95% of the stock is owned by hedge funds and other 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.