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

Wedbush reissued their outperform rating on shares of Day One Biopharmaceuticals (NASDAQ:DAWN) in a report issued on Wednesday,Benzinga reports. The brokerage currently has a $32.00 price objective on the stock.

A number of other research firms also recently weighed in on DAWN. Needham & Company LLC reissued a “buy” rating and issued a $32.00 price target on shares of Day One Biopharmaceuticals in a research note on Wednesday. HC Wainwright cut their target price on 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 reduced their target price on Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating on the stock in a report on Monday, February 10th. TD Cowen raised Day One Biopharmaceuticals to a “strong-buy” rating in a research note on Monday, November 4th. Finally, Bank of America reduced their price objective 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. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $34.86.

Day One Biopharmaceuticals Trading Down 16.7 %

Shares of NASDAQ:DAWN opened at $9.85 on Wednesday. Day One Biopharmaceuticals has a 1-year low of $9.77 and a 1-year high of $18.07. The stock has a market capitalization of $992.83 million, a P/E ratio of -9.56 and a beta of -1.46. The business has a 50-day moving average price of $12.29 and a two-hundred day moving average price of $13.44.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.69) EPS 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 the consensus estimate of $27.11 million. As a group, equities analysts predict that Day One Biopharmaceuticals will post -0.72 EPS for the current year.

Insider Transactions at Day One Biopharmaceuticals

In other news, insider Samuel C. Blackman sold 30,000 shares of the stock in a transaction 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 represents a 2.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeremy Bender sold 12,048 shares of the business’s 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 sale, the chief executive officer now directly owns 128,015 shares in the company, valued at $1,531,059.40. This represents a 8.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,064 shares of company stock valued at $651,225 over the last 90 days. 8.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DAWN. GF Fund Management CO. LTD. bought 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 raised its holdings in shares of Day One Biopharmaceuticals by 15.9% in the fourth 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 bought a new stake in shares of Day One Biopharmaceuticals in the fourth quarter worth $380,000. Stonepine Capital Management LLC boosted its holdings in Day One Biopharmaceuticals by 14.3% during the fourth quarter. Stonepine Capital Management LLC now owns 235,000 shares of the company’s stock worth $2,977,000 after purchasing an additional 29,325 shares during the last quarter. Finally, Tema Etfs LLC bought a new position in Day One Biopharmaceuticals in the fourth quarter valued at $1,087,000. 87.95% of the stock is currently owned by institutional investors.

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.