Day One Biopharmaceuticals (NASDAQ:DAWN – Get Rating)'s stock had its "buy" rating reaffirmed by equities researchers at Needham & Company LLC in a report released on Tuesday, Benzinga reports. They presently have a $48.00 price objective on the stock. Needham & Company LLC's target price would indicate a potential upside of 148.06% from the company's previous close.
Other analysts also recently issued research reports about the company. Bank of America began coverage on Day One Biopharmaceuticals in a research report on Thursday, December 1st. They issued a "buy" rating and a $34.00 target price on the stock. HC Wainwright lifted their target price on Day One Biopharmaceuticals from $35.00 to $45.00 and gave the company a "buy" rating in a research report on Monday, January 9th. Capital One Financial started coverage on Day One Biopharmaceuticals in a research report on Wednesday, February 8th. They issued an "overweight" rating and a $40.00 target price on the stock. Piper Sandler boosted their price target on Day One Biopharmaceuticals from $40.00 to $45.00 and gave the stock an "overweight" rating in a research report on Sunday, January 8th. Finally, The Goldman Sachs Group boosted their price target on Day One Biopharmaceuticals from $45.00 to $62.00 and gave the stock a "buy" rating in a research report on Monday, January 9th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $44.14.
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Day One Biopharmaceuticals Stock Performance
NASDAQ:DAWN opened at $19.35 on Tuesday. The stock's 50-day simple moving average is $20.78 and its 200 day simple moving average is $20.98. The company has a market cap of $1.42 billion, a P/E ratio of -8.92 and a beta of -1.94. Day One Biopharmaceuticals has a 52-week low of $5.44 and a 52-week high of $28.35.
Insiders Place Their Bets
In other news, CFO Charles N. York II sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $20.07, for a total transaction of $200,700.00. Following the completion of the sale, the chief financial officer now owns 276,497 shares in the company, valued at $5,549,294.79. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Charles N. York II sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $20.07, for a total transaction of $200,700.00. Following the completion of the sale, the chief financial officer now owns 276,497 shares in the company, valued at $5,549,294.79. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Julie Papanek Grant sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $20.65, for a total value of $516,250.00. Following the completion of the sale, the director now owns 380,000 shares of the company's stock, valued at $7,847,000. The disclosure for this sale can be found here. Insiders have sold a total of 107,126 shares of company stock valued at $2,243,406 over the last 90 days. 8.70% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Day One Biopharmaceuticals
Several institutional investors have recently made changes to their positions in DAWN. FMR LLC lifted its stake in Day One Biopharmaceuticals by 163.1% during the second quarter. FMR LLC now owns 6,826,574 shares of the company's stock worth $122,196,000 after purchasing an additional 4,232,055 shares during the last quarter. Deerfield Management Company L.P. Series C lifted its stake in Day One Biopharmaceuticals by 68.3% during the second quarter. Deerfield Management Company L.P. Series C now owns 3,512,123 shares of the company's stock worth $62,867,000 after purchasing an additional 1,425,674 shares during the last quarter. BlackRock Inc. lifted its stake in Day One Biopharmaceuticals by 29.5% during the third quarter. BlackRock Inc. now owns 2,541,235 shares of the company's stock worth $50,901,000 after purchasing an additional 578,511 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Day One Biopharmaceuticals by 59.8% during the second quarter. Franklin Resources Inc. now owns 2,465,380 shares of the company's stock worth $44,130,000 after buying an additional 922,521 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Day One Biopharmaceuticals by 4.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,182,578 shares of the company's stock worth $46,969,000 after buying an additional 87,665 shares in the last quarter. 86.08% of the stock is currently owned by institutional investors.
About Day One Biopharmaceuticals
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Day One Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops and commercializes targeted therapies for patients with genetically defined cancers. Its lead product candidate is DAY101, an oral brain-penetrant type II pan-rapidly accelerated fibrosarcoma kinase inhibitor that is in Phase II clinical trial for pediatric patients with relapsed/progressive low-grade glioma.
Further Reading
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