By otakuyassine3@gmail.com 
Day One Biopharmaceuticals (NASDAQ:DAWN – Get Free Report)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research report issued to clients and investors on Monday,Benzinga reports. They currently have a $33.00 price objective on the stock. Needham & Company LLC’s price target indicates a potential upside of 180.37% from the stock’s current price.
A number of other equities analysts have also weighed in on DAWN. TD Cowen raised Day One Biopharmaceuticals to a “strong-buy” rating in a research report on Monday, November 4th. HC Wainwright restated a “buy” rating and issued a $40.00 target price on shares of Day One Biopharmaceuticals in a report on Thursday, October 31st. Finally, Bank of America decreased their target price on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. One investment 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’s stock. According to data from MarketBeat.com, Day One Biopharmaceuticals presently has a consensus rating of “Buy” and an average price target of $35.86.
Day One Biopharmaceuticals Trading Down 0.3 %
NASDAQ:DAWN traded down $0.03 during trading hours on Monday, reaching $11.77. 258,310 shares of the company traded hands, compared to its average volume of 720,295. Day One Biopharmaceuticals has a 1 year low of $11.59 and a 1 year high of $18.07. The business’s 50-day moving average price is $13.44 and its two-hundred day moving average price is $13.97. The stock has a market capitalization of $1.19 billion, a P/E ratio of -11.43 and a beta of -1.51.
Day One Biopharmaceuticals (NASDAQ:DAWN – Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.58. The firm had revenue of $93.76 million for the quarter, compared to the consensus estimate of $15.05 million. During the same quarter in the prior year, the business posted ($0.54) earnings per share. As a group, equities analysts anticipate that Day One Biopharmaceuticals will post -0.88 EPS for the current year.
Insider Activity
In related news, insider Samuel C. Blackman sold 10,000 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $16.10, for a total value of $161,000.00. Following the completion of the sale, the insider now directly owns 1,057,535 shares of the company’s stock, valued at approximately $17,026,313.50. This represents a 0.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 51,745 shares of company stock valued at $748,567 in the last 90 days. Company insiders own 8.40% of the company’s stock.
Hedge Funds Weigh In On Day One Biopharmaceuticals
Hedge funds have recently modified their holdings of the company. Franklin Resources Inc. raised its holdings in Day One Biopharmaceuticals by 2.3% during the third quarter. Franklin Resources Inc. now owns 3,869,632 shares of the company’s stock valued at $55,336,000 after acquiring an additional 87,262 shares during the period. Geode Capital Management LLC boosted its stake in Day One Biopharmaceuticals by 10.5% during the third quarter. Geode Capital Management LLC now owns 1,432,697 shares of the company’s stock valued at $19,961,000 after buying an additional 136,458 shares during the last quarter. Frazier Life Sciences Management L.P. purchased a new position in Day One Biopharmaceuticals during the 3rd quarter valued at approximately $9,607,000. XTX Topco Ltd bought a new stake in Day One Biopharmaceuticals in the 3rd quarter worth approximately $178,000. Finally, Wellington Management Group LLP raised its holdings in shares of Day One Biopharmaceuticals by 142.1% during the 3rd quarter. Wellington Management Group LLP now owns 721,581 shares of the company’s stock worth $10,052,000 after acquiring an additional 423,543 shares in the last quarter. 87.95% of the stock is currently owned by 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.
Further Reading
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