Day One Biopharmaceuticals (NASDAQ:DAWN) Given New $27.00 Price Target at The Goldman Sachs Group

Day One Biopharmaceuticals (NASDAQ:DAWN) had its target price dropped by research analysts at The Goldman Sachs Group from $39.00 to $27.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective indicates a potential upside of 235.40% from the stock’s previous close.

A number of other equities analysts also recently issued reports on the company. Wedbush reissued an “outperform” rating and set a $32.00 target price on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. HC Wainwright lowered their price target on shares of Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Needham & Company LLC restated a “buy” rating and set a $32.00 target price on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. Bank of America lowered their price target on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. decreased their target price on Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Day One Biopharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $32.29.

Day One Biopharmaceuticals Stock Down 3.1 %

NASDAQ:DAWN traded down $0.26 during midday trading on Tuesday, reaching $8.05. The stock had a trading volume of 186,218 shares, compared to its average volume of 1,084,257. The stock has a market cap of $815.91 million, a P/E ratio of -7.82 and a beta of -1.38. Day One Biopharmaceuticals has a 12-month low of $7.88 and a 12-month high of $18.07. The firm has a fifty day simple moving average of $10.90 and a two-hundred day simple moving average of $12.76.

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

Insider Activity

In related news, General Counsel Adam Dubow sold 4,646 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total transaction of $55,566.16. Following the completion of the transaction, the general counsel now owns 39,602 shares of the company’s stock, valued at approximately $473,639.92. This represents a 10.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeremy Bender sold 12,048 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total transaction of $144,094.08. Following the completion of the transaction, the chief executive officer now owns 128,015 shares in the company, valued at approximately $1,531,059.40. This trade represents a 8.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,064 shares of company stock valued at $251,925 over the last 90 days. Insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of DAWN. Virtus ETF Advisers LLC lifted its holdings in shares of Day One Biopharmaceuticals by 7.1% during the 4th quarter. Virtus ETF Advisers LLC now owns 27,296 shares of the company’s stock valued at $346,000 after acquiring an additional 1,805 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Day One Biopharmaceuticals by 5.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,843 shares of the company’s stock worth $454,000 after purchasing an additional 1,894 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Day One Biopharmaceuticals during the fourth quarter worth about $27,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Day One Biopharmaceuticals by 11.4% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 21,383 shares of the company’s stock valued at $271,000 after buying an additional 2,180 shares in the last quarter. Finally, R Squared Ltd acquired a new position in Day One Biopharmaceuticals during the 4th quarter worth approximately $31,000. 87.95% of the stock is owned by institutional investors and hedge funds.

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.