Wedbush Reiterates Outperform Rating for Day One Biopharmaceuticals (NASDAQ:DAWN)

Day One Biopharmaceuticals (NASDAQ:DAWN)‘s stock had its “outperform” rating restated by analysts at Wedbush in a report released on Wednesday,Benzinga reports. They presently have a $32.00 target price on the stock. Wedbush’s price objective points to a potential upside of 211.04% from the stock’s previous close.

Other research analysts have also issued reports about the stock. Bank of America decreased 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 research note on Tuesday, January 7th. HC Wainwright decreased their target price 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. The Goldman Sachs Group decreased their target price on shares of Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Needham & Company LLC reissued a “buy” rating and issued a $32.00 target price on shares of Day One Biopharmaceuticals in a research note on Wednesday. Finally, TD Cowen raised shares of Day One Biopharmaceuticals to a “strong-buy” rating in a research note on Monday, November 4th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $34.86.

Day One Biopharmaceuticals Price Performance

Day One Biopharmaceuticals stock traded down $1.53 during midday trading on Wednesday, reaching $10.29. The company had a trading volume of 674,381 shares, compared to its average volume of 973,058. The company has a market capitalization of $1.04 billion, a P/E ratio of -9.95 and a beta of -1.46. Day One Biopharmaceuticals has a 12-month low of $10.06 and a 12-month high of $18.07. The firm’s fifty day simple moving average is $12.34 and its 200-day simple moving average is $13.46.

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

Insider Activity

In related news, CFO Charles N. York II sold 4,370 shares of Day One Biopharmaceuticals 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 sale, the chief financial officer now owns 252,638 shares in the company, valued at approximately $3,021,550.48. This trade represents a 1.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Samuel C. Blackman sold 30,000 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $13.31, for a total transaction of $399,300.00. Following the completion of the sale, the insider now owns 1,034,015 shares of the company’s stock, valued at $13,762,739.65. This trade represents a 2.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,064 shares of company stock valued at $651,225. 8.40% of the stock is currently owned by company insiders.

Institutional Trading of Day One Biopharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. acquired a new stake in Day One Biopharmaceuticals in the 4th quarter valued at approximately $27,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Day One Biopharmaceuticals by 15.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,579 shares of the company’s stock valued at $958,000 after purchasing an additional 10,386 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Day One Biopharmaceuticals in the 4th quarter valued at approximately $380,000. Stonepine Capital Management LLC increased its holdings in Day One Biopharmaceuticals by 14.3% in the 4th quarter. Stonepine Capital Management LLC now owns 235,000 shares of the company’s stock valued at $2,977,000 after purchasing an additional 29,325 shares during the last quarter. Finally, Tema Etfs LLC acquired a new stake in Day One Biopharmaceuticals in the 4th quarter valued at approximately $1,087,000. Institutional investors and hedge funds 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.