HC Wainwright Reiterates Buy Rating for Day One Biopharmaceuticals (NASDAQ:DAWN)

Day One Biopharmaceuticals (NASDAQ:DAWN)‘s stock had its “buy” rating reissued by equities researchers at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They presently have a $36.00 target price on the stock. HC Wainwright’s price objective indicates a potential upside of 351.69% from the stock’s current price.

A number of other equities analysts have also commented on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price target on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. Bank of America lowered 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 report on Tuesday, January 7th. Wedbush reiterated an “outperform” rating and issued a $32.00 price target on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. JPMorgan Chase & Co. dropped their price objective on Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating for the company in a report on Wednesday, March 5th. Finally, The Goldman Sachs Group cut their target price on Day One Biopharmaceuticals from $39.00 to $27.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Day One Biopharmaceuticals presently has an average rating of “Buy” and an average price target of $32.29.

Day One Biopharmaceuticals Trading Up 4.7 %

Day One Biopharmaceuticals stock opened at $7.97 on Thursday. The company has a market capitalization of $807.80 million, a price-to-earnings ratio of -7.74 and a beta of -1.38. Day One Biopharmaceuticals has a 12 month low of $7.28 and a 12 month high of $18.07. The stock’s 50 day moving average is $10.32 and its 200-day moving average is $12.47.

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

Insider Activity

In related news, CFO Charles N. York II sold 4,370 shares of the 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 $52,265.20. Following the completion of the transaction, the chief financial officer now owns 252,638 shares of the company’s stock, valued at $3,021,550.48. This represents a 1.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Adam Dubow sold 4,646 shares of Day One Biopharmaceuticals stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $55,566.16. Following the sale, the general counsel now directly owns 39,602 shares in the company, valued at $473,639.92. The trade was a 10.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,064 shares of company stock worth $251,925. Insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC raised its stake in shares of Day One Biopharmaceuticals by 73.9% during the fourth quarter. FMR LLC now owns 12,887,467 shares of the company’s stock valued at $163,284,000 after acquiring an additional 5,475,087 shares during the last quarter. Franklin Resources Inc. raised its position in Day One Biopharmaceuticals by 0.3% during the 4th quarter. Franklin Resources Inc. now owns 3,882,952 shares of the company’s stock worth $49,197,000 after purchasing an additional 13,320 shares during the last quarter. Estuary Capital Management LP raised its position in Day One Biopharmaceuticals by 35.5% during the 4th quarter. Estuary Capital Management LP now owns 3,716,777 shares of the company’s stock worth $47,092,000 after purchasing an additional 972,997 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in Day One Biopharmaceuticals by 17.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,490,064 shares of the company’s stock worth $44,219,000 after buying an additional 507,398 shares during the period. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Day One Biopharmaceuticals in the 4th quarter valued at about $31,829,000. 87.95% of the stock is currently 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.