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

Day One Biopharmaceuticals (NASDAQ:DAWN)‘s stock had its “outperform” rating reiterated by stock analysts at Wedbush in a research report issued to clients and investors on Tuesday, RTT News reports. They presently have a $33.00 target price on the stock. Wedbush’s target price points to a potential upside of 101.10% from the stock’s previous close.

A number of other brokerages have also recently weighed in on DAWN. Piper Sandler restated an “overweight” rating and set a $40.00 price objective on shares of Day One Biopharmaceuticals in a research note on Tuesday, March 26th. Oppenheimer restated a “market perform” rating on shares of Day One Biopharmaceuticals in a research report on Tuesday, February 27th. Needham & Company LLC reiterated a “buy” rating and issued a $33.00 price objective on shares of Day One Biopharmaceuticals in a report on Tuesday. HC Wainwright lowered their price objective on shares of Day One Biopharmaceuticals from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, JPMorgan Chase & Co. upped their target price on Day One Biopharmaceuticals from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Day One Biopharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

Day One Biopharmaceuticals Trading Down 3.9 %

NASDAQ DAWN opened at $16.41 on Tuesday. The company has a 50-day moving average price of $15.46 and a two-hundred day moving average price of $14.17. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -6.89 and a beta of -1.44. Day One Biopharmaceuticals has a 52 week low of $9.67 and a 52 week high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings data on Monday, February 26th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). As a group, equities research analysts expect that Day One Biopharmaceuticals will post -2.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Charles N. York II sold 8,078 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $17.85, for a total transaction of $144,192.30. Following the completion of the sale, the chief financial officer now directly owns 217,293 shares in the company, valued at $3,878,680.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Charles N. York II sold 8,078 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $17.85, for a total transaction of $144,192.30. Following the sale, the chief financial officer now directly owns 217,293 shares of the company’s stock, valued at $3,878,680.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Charles N. York II sold 52,183 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $17.89, for a total value of $933,553.87. Following the completion of the transaction, the chief financial officer now owns 225,571 shares of the company’s stock, valued at approximately $4,035,465.19. The disclosure for this sale can be found here. Insiders have sold 195,247 shares of company stock worth $3,376,817 in the last ninety days. 8.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Day One Biopharmaceuticals

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Day One Biopharmaceuticals by 8.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,629,754 shares of the company’s stock worth $56,807,000 after purchasing an additional 346,090 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Day One Biopharmaceuticals by 38.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 447,138 shares of the company’s stock valued at $5,486,000 after buying an additional 125,050 shares during the period. Bank of New York Mellon Corp lifted its stake in Day One Biopharmaceuticals by 22.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 220,296 shares of the company’s stock worth $2,703,000 after acquiring an additional 40,387 shares in the last quarter. TimesSquare Capital Management LLC boosted its position in Day One Biopharmaceuticals by 41.8% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,142,610 shares of the company’s stock worth $14,020,000 after acquiring an additional 336,910 shares during the period. Finally, Deutsche Bank AG grew its stake in Day One Biopharmaceuticals by 5.5% during the 3rd quarter. Deutsche Bank AG now owns 177,137 shares of the company’s stock valued at $2,173,000 after acquiring an additional 9,219 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

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.