Day One Biopharmaceuticals (NASDAQ:DAWN) Shares Gap Up – Here’s What Happened

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $14.46, but opened at $14.97. Day One Biopharmaceuticals shares last traded at $14.69, with a volume of 204,907 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Bank of America upgraded Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and raised their target price for the stock from $11.00 to $24.00 in a research report on Thursday, August 1st. HC Wainwright reiterated a “buy” rating and set a $40.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, August 1st. Wedbush restated an “outperform” rating and issued a $33.00 target price on shares of Day One Biopharmaceuticals in a research note on Thursday, July 25th. Finally, Needham & Company LLC upped their target price on shares of Day One Biopharmaceuticals from $32.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Day One Biopharmaceuticals has an average rating of “Moderate Buy” and an average price target of $35.71.

Day One Biopharmaceuticals Stock Performance

The firm’s 50-day simple moving average is $14.13 and its two-hundred day simple moving average is $14.37. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -5.76 and a beta of -1.51.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings data on Tuesday, July 30th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.70. The company had revenue of $8.19 million during the quarter, compared to the consensus estimate of $0.90 million. Equities research analysts expect that Day One Biopharmaceuticals, Inc. will post -1.68 earnings per share for the current fiscal year.

Insider Activity

In other Day One Biopharmaceuticals news, CFO Charles N. York II sold 2,633 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $14.00, for a total transaction of $36,862.00. Following the completion of the sale, the chief financial officer now directly owns 232,485 shares of the company’s stock, valued at approximately $3,254,790. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Day One Biopharmaceuticals news, General Counsel Adam Dubow sold 3,202 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $14.00, for a total transaction of $44,828.00. Following the completion of the sale, the general counsel now owns 26,928 shares in the company, valued at approximately $376,992. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Charles N. York II sold 2,633 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $14.00, for a total value of $36,862.00. Following the completion of the transaction, the chief financial officer now directly owns 232,485 shares in the company, valued at approximately $3,254,790. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,748 shares of company stock valued at $689,072 over the last 90 days. 8.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Day One Biopharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAWN. Wellington Management Group LLP boosted its stake in Day One Biopharmaceuticals by 77.7% during the 4th quarter. Wellington Management Group LLP now owns 208,969 shares of the company’s stock worth $3,051,000 after acquiring an additional 91,393 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Day One Biopharmaceuticals by 2.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 59,289 shares of the company’s stock valued at $979,000 after buying an additional 1,445 shares during the period. ProShare Advisors LLC increased its position in shares of Day One Biopharmaceuticals by 9.1% in the 1st quarter. ProShare Advisors LLC now owns 17,379 shares of the company’s stock valued at $287,000 after buying an additional 1,447 shares in the last quarter. Summit Rock Advisors LP acquired a new stake in Day One Biopharmaceuticals during the 1st quarter worth $851,000. Finally, Altitude Crest Partners Inc. bought a new position in Day One Biopharmaceuticals during the first quarter worth about $3,230,000. 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.