Wedbush Reiterates “Outperform” Rating for Day One Biopharmaceuticals (NASDAQ:DAWN)

Day One Biopharmaceuticals (NASDAQ:DAWN)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Wedbush in a note issued to investors on Wednesday, RTT News reports. They currently have a $33.00 price target on the stock. Wedbush’s target price would indicate a potential upside of 149.81% from the company’s previous close.

DAWN has been the topic of several other research reports. The Goldman Sachs Group dropped their price objective on Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. JPMorgan Chase & Co. raised their price objective on Day One Biopharmaceuticals from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday. Oppenheimer reaffirmed a “market perform” rating on shares of Day One Biopharmaceuticals in a report on Tuesday, February 27th. Piper Sandler reissued an “overweight” rating and set a $40.00 price target on shares of Day One Biopharmaceuticals in a report on Tuesday, March 26th. Finally, HC Wainwright reissued a “buy” rating and set a $50.00 price target on shares of Day One Biopharmaceuticals in a report on Wednesday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.33.

Day One Biopharmaceuticals Price Performance

Day One Biopharmaceuticals stock opened at $13.21 on Wednesday. The stock’s fifty day moving average is $15.23 and its two-hundred day moving average is $13.79. The stock has a market cap of $1.15 billion, a PE ratio of -5.55 and a beta of -1.48. Day One Biopharmaceuticals has a 1-year low of $9.67 and a 1-year high of $17.85.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings data 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). On average, research analysts expect that Day One Biopharmaceuticals will post -2.66 earnings per share for the current fiscal year.

Insider Buying and Selling at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 2,258 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.25, for a total value of $34,434.50. Following the sale, the insider now owns 1,244,662 shares of the company’s stock, valued at approximately $18,981,095.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 20,000 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $16.11, for a total value of $322,200.00. Following the sale, the insider now owns 1,224,662 shares of the company’s stock, valued at approximately $19,729,304.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Samuel C. Blackman sold 2,258 shares of Day One Biopharmaceuticals 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 sale, the insider now directly owns 1,244,662 shares in the company, valued at approximately $18,981,095.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,781 shares of company stock valued at $883,160. 8.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Day One Biopharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC acquired a new stake in shares of Day One Biopharmaceuticals during the 4th quarter valued at approximately $29,000. China Universal Asset Management Co. Ltd. lifted its position in shares of 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 acquiring an additional 1,262 shares during the period. Quintet Private Bank Europe S.A. lifted its position in shares of Day One Biopharmaceuticals by 43.2% during the 4th 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 during the period. Amalgamated Bank lifted its position in shares of 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 acquiring 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% during the 4th quarter. Exchange Traded Concepts LLC now owns 10,072 shares of the company’s stock valued at $147,000 after acquiring an additional 2,554 shares during the period. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Day One Biopharmaceuticals Company Profile

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.