Day One Biopharmaceuticals’ (DAWN) Neutral Rating Reiterated at HC Wainwright

by · The Cerbat Gem

HC Wainwright reiterated their neutral rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN – Free Report) in a research note published on Tuesday morning, Marketbeat reports. They currently have a $21.50 price objective on the stock, down from their prior price objective of $22.00.

Several other analysts also recently issued reports on the company. Oppenheimer reiterated a “market perform” rating on shares of Day One Biopharmaceuticals in a report on Friday, March 6th. TD Cowen downgraded Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. Wedbush reiterated a “neutral” rating and issued a $21.50 target price (down from $30.00) on shares of Day One Biopharmaceuticals in a research note on Monday. JonesTrading downgraded Day One Biopharmaceuticals from a “buy” rating to a “hold” rating and raised their target price for the company from $20.00 to $21.50 in a report on Friday, March 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Day One Biopharmaceuticals currently has an average rating of “Hold” and an average price target of $23.75.

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Day One Biopharmaceuticals Stock Performance

DAWN opened at $21.27 on Tuesday. Day One Biopharmaceuticals has a 1 year low of $5.64 and a 1 year high of $21.43. The firm has a 50 day moving average price of $12.06 and a 200 day moving average price of $9.44. The company has a market cap of $2.20 billion, a PE ratio of -20.65 and a beta of -1.25.

Day One Biopharmaceuticals (NASDAQ:DAWN – Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.04). Day One Biopharmaceuticals had a negative return on equity of 23.43% and a negative net margin of 67.85%.The business had revenue of $53.72 million for the quarter, compared to analysts’ expectations of $49.81 million. On average, sell-side analysts predict that Day One Biopharmaceuticals will post -0.72 earnings per share for the current year.

Insider Activity

In other Day One Biopharmaceuticals news, insider Adam Dubow sold 6,395 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total transaction of $74,182.00. Following the sale, the insider directly owned 72,694 shares in the company, valued at $843,250.40. The trade was a 8.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Vasconcelles sold 2,728 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $11.60, for a total value of $31,644.80. Following the completion of the transaction, the insider directly owned 4,397 shares in the company, valued at approximately $51,005.20. The trade was a 38.29% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 36,461 shares of company stock worth $422,948 over the last quarter. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

Several institutional investors have recently added to or reduced their stakes in DAWN. Royal Bank of Canada boosted its stake in Day One Biopharmaceuticals by 40.4% during the 1st quarter. Royal Bank of Canada now owns 185,733 shares of the company’s stock valued at $1,474,000 after acquiring an additional 53,459 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Day One Biopharmaceuticals by 601.4% in the 1st quarter. AQR Capital Management LLC now owns 618,627 shares of the company’s stock worth $4,906,000 after purchasing an additional 530,429 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Day One Biopharmaceuticals by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,992 shares of the company’s stock valued at $302,000 after purchasing an additional 2,149 shares in the last quarter. Millennium Management LLC raised its stake in shares of Day One Biopharmaceuticals by 587.2% in the 1st quarter. Millennium Management LLC now owns 1,320,095 shares of the company’s stock valued at $10,468,000 after purchasing an additional 1,127,995 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Day One Biopharmaceuticals by 232.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,569,918 shares of the company’s stock worth $12,449,000 after purchasing an additional 1,097,679 shares during the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

About Day One Biopharmaceuticals

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Day One Biopharmaceuticals, Inc (NASDAQ: DAWN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted therapies for oncology. The company employs a precision medicine approach, leveraging biomarker-driven strategies to identify patient populations most likely to respond to its investigational compounds. By concentrating on well-validated molecular drivers of cancer, Day One seeks to deliver first-in-class or best-in-class therapies with the potential for meaningful clinical benefit.

The company’s pipeline includes several small-molecule candidates in various stages of development.

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