Day One Biopharmaceuticals (NASDAQ:DAWN) Trading Up 12.2% on Analyst Upgrade

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) shares were up 12.2% on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $32.00 to $36.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Day One Biopharmaceuticals traded as high as $17.39 and last traded at $17.26. Approximately 3,653,007 shares traded hands during mid-day trading, an increase of 457% from the average daily volume of 656,201 shares. The stock had previously closed at $15.38.

A number of other equities research analysts have also recently commented on DAWN. Piper Sandler reissued an “overweight” rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a research report on Tuesday, March 26th. Oppenheimer reissued a “market perform” rating on shares of Day One Biopharmaceuticals in a research report on Tuesday, February 27th. Finally, The Goldman Sachs Group cut their price target on shares of Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.83.

Insider Buying and Selling at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, CFO Charles N. York II sold 2,666 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.25, for a total transaction of $40,656.50. Following the transaction, the chief financial officer now owns 277,754 shares in the company, valued at approximately $4,235,748.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Charles N. York II sold 2,666 shares of the stock in a transaction on Friday, February 16th. The shares were sold at an average price of $15.25, for a total value of $40,656.50. Following the sale, the chief financial officer now owns 277,754 shares in the company, valued at $4,235,748.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samuel C. Blackman sold 10,000 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $16.02, for a total transaction of $160,200.00. Following the completion of the sale, the insider now owns 1,174,662 shares in the company, valued at approximately $18,818,085.24. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,781 shares of company stock worth $883,160. 8.40% of the stock is owned by corporate insiders.

Institutional Trading of Day One Biopharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Day One Biopharmaceuticals by 8.1% during the third quarter. Vanguard Group Inc. now owns 4,629,754 shares of the company’s stock worth $56,807,000 after buying an additional 346,090 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Day One Biopharmaceuticals by 4.2% during the fourth quarter. Franklin Resources Inc. now owns 4,236,795 shares of the company’s stock worth $61,857,000 after buying an additional 169,463 shares in the last quarter. Braidwell LP boosted its holdings in Day One Biopharmaceuticals by 13.5% during the fourth quarter. Braidwell LP now owns 4,215,573 shares of the company’s stock worth $61,547,000 after buying an additional 500,000 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in Day One Biopharmaceuticals by 28.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,118,849 shares of the company’s stock worth $30,935,000 after buying an additional 472,654 shares in the last quarter. Finally, Polar Capital Holdings Plc boosted its holdings in Day One Biopharmaceuticals by 9.0% during the third quarter. Polar Capital Holdings Plc now owns 1,935,000 shares of the company’s stock worth $23,742,000 after buying an additional 160,385 shares in the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Day One Biopharmaceuticals Price Performance

The stock has a market capitalization of $1.49 billion, a PE ratio of -7.01 and a beta of -1.48. The stock’s fifty day moving average is $15.22 and its 200-day moving average is $13.75.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings data on Monday, February 26th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). On average, analysts forecast that Day One Biopharmaceuticals, Inc. will post -2.66 EPS for the current year.

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.