Day One Biopharmaceuticals (NASDAQ:DAWN) Price Target Cut to $27.00 by Analysts at The Goldman Sachs Group

Day One Biopharmaceuticals (NASDAQ:DAWN) had its target price lowered by The Goldman Sachs Group from $39.00 to $27.00 in a research note released on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

DAWN has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered their price objective on shares of Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Needham & Company LLC reissued a “buy” rating and set a $32.00 price target on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. Bank of America cut their price objective on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Wedbush reiterated an “outperform” rating and set a $32.00 price objective on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. Finally, HC Wainwright dropped their target price on Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Day One Biopharmaceuticals has a consensus rating of “Buy” and a consensus target price of $32.29.

Day One Biopharmaceuticals Price Performance

DAWN stock opened at $8.19 on Tuesday. The stock has a market capitalization of $830.10 million, a P/E ratio of -7.95 and a beta of -1.38. Day One Biopharmaceuticals has a 1-year low of $7.88 and a 1-year high of $18.07. The business has a fifty day moving average price of $10.68 and a 200-day moving average price of $12.66.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its 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 business had revenue of $29.21 million during the quarter, compared to analyst estimates of $27.11 million. As a group, analysts anticipate that Day One Biopharmaceuticals will post -0.72 earnings per share for the current year.

Insider Transactions at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, CEO Jeremy Bender sold 12,048 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was 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 owns 128,015 shares of the company’s stock, valued at approximately $1,531,059.40. The trade was a 8.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Charles N. York II sold 4,370 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total transaction of $52,265.20. Following the completion of the sale, the chief financial officer now directly owns 252,638 shares of the company’s stock, valued at $3,021,550.48. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,064 shares of company stock worth $251,925 in the last three months. Corporate insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its stake in Day One Biopharmaceuticals by 73.9% in the fourth quarter. FMR LLC now owns 12,887,467 shares of the company’s stock worth $163,284,000 after purchasing an additional 5,475,087 shares during the period. Braidwell LP grew its stake in Day One Biopharmaceuticals by 60.5% in the third quarter. Braidwell LP now owns 4,873,853 shares of the company’s stock worth $67,893,000 after purchasing an additional 1,837,949 shares in the last quarter. Franklin Resources Inc. increased its holdings in Day One Biopharmaceuticals by 0.3% during the 4th quarter. Franklin Resources Inc. now owns 3,882,952 shares of the company’s stock worth $49,197,000 after purchasing an additional 13,320 shares during the period. Estuary Capital Management LP raised its position in Day One Biopharmaceuticals by 35.5% during the 4th quarter. Estuary Capital Management LP now owns 3,716,777 shares of the company’s stock valued at $47,092,000 after purchasing an additional 972,997 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of Day One Biopharmaceuticals by 17.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,490,064 shares of the company’s stock worth $44,219,000 after buying an additional 507,398 shares during the period. 87.95% of the stock is currently owned by institutional investors.

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.