Needham & Company LLC Reaffirms “Buy” Rating for Day One Biopharmaceuticals (NASDAQ:DAWN)

Needham & Company LLC reaffirmed their buy rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a research report sent to investors on Wednesday morning,Benzinga reports. The brokerage currently has a $32.00 target price on the stock.

A number of other equities research analysts have also recently commented on DAWN. HC Wainwright cut their target price on Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday. TD Cowen raised shares of Day One Biopharmaceuticals to a “strong-buy” rating in a research report on Monday, November 4th. The Goldman Sachs Group decreased their target price on shares of Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating for the company in a report on Monday, February 10th. Finally, Bank of America dropped their target price on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Day One Biopharmaceuticals presently has an average rating of “Buy” and a consensus target price of $34.86.

Day One Biopharmaceuticals Price Performance

NASDAQ:DAWN opened at $9.85 on Wednesday. The firm has a market capitalization of $992.83 million, a P/E ratio of -9.56 and a beta of -1.46. Day One Biopharmaceuticals has a one year low of $9.77 and a one year high of $18.07. The company’s 50-day simple moving average is $12.29 and its 200 day simple moving average is $13.44.

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

Insider Buying and Selling at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, General Counsel Adam Dubow sold 4,646 shares of Day One Biopharmaceuticals 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 $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. The trade was a 10.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 approximately $13,762,739.65. This represents a 2.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,064 shares of company stock worth $651,225. Company insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the company. GF Fund Management CO. LTD. bought a new position in Day One Biopharmaceuticals in the fourth quarter valued at about $27,000. R Squared Ltd purchased a new stake in shares of Day One Biopharmaceuticals during the 4th quarter valued at about $31,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Day One Biopharmaceuticals by 38.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,611 shares of the company’s stock worth $51,000 after purchasing an additional 1,002 shares during the period. Quest Partners LLC boosted its holdings in shares of Day One Biopharmaceuticals by 9,238.6% in the third quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock worth $108,000 after buying an additional 7,668 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in 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 period. 87.95% of the stock is currently 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.