Day One Biopharmaceuticals (NASDAQ:DAWN) Shares Gap Up – Should You Buy?

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) gapped up prior to trading on Wednesday . The stock had previously closed at $14.46, but opened at $14.97. Day One Biopharmaceuticals shares last traded at $14.69, with a volume of 204,907 shares changing hands.

Wall Street Analyst Weigh In

DAWN has been the topic of a number of research reports. Piper Sandler reiterated an “overweight” rating and issued a $40.00 target price on shares of Day One Biopharmaceuticals in a report on Monday, July 8th. Bank of America upgraded Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and increased their price target for the company from $11.00 to $24.00 in a research report on Thursday, August 1st. Wedbush reiterated an “outperform” rating and issued a $33.00 target price on shares of Day One Biopharmaceuticals in a report on Thursday, July 25th. HC Wainwright reissued a “buy” rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a research note on Thursday, August 1st. Finally, JPMorgan Chase & Co. decreased their target price on Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating for the company in a research report on Tuesday, August 6th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Day One Biopharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $35.71.

Day One Biopharmaceuticals Stock Up 1.0 %

The business has a 50-day moving average of $14.13 and a 200-day moving average of $14.37. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of -5.76 and a beta of -1.51.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.70. The firm had revenue of $8.19 million during the quarter, compared to analyst estimates of $0.90 million. Equities analysts anticipate that Day One Biopharmaceuticals, Inc. will post -1.68 earnings per share for the current year.

Insider Buying and Selling

In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 2,232 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $14.00, for a total value of $31,248.00. Following the completion of the sale, the insider now owns 1,127,535 shares of the company’s stock, valued at $15,785,490. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Samuel C. Blackman sold 30,000 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $14.22, for a total value of $426,600.00. Following the transaction, the insider now owns 1,097,535 shares in the company, valued at $15,606,947.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Samuel C. Blackman sold 2,232 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $14.00, for a total transaction of $31,248.00. Following the sale, the insider now owns 1,127,535 shares of the company’s stock, valued at $15,785,490. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,748 shares of company stock worth $689,072. Corporate insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several large investors have recently made changes to their positions in the business. Deerfield Management Company L.P. Series C increased its position in Day One Biopharmaceuticals by 65.6% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 2,923,137 shares of the company’s stock worth $40,281,000 after buying an additional 1,157,825 shares during the period. Estuary Capital Management LP boosted its holdings in Day One Biopharmaceuticals by 82.5% in the 1st quarter. Estuary Capital Management LP now owns 1,611,137 shares of the company’s stock valued at $26,616,000 after purchasing an additional 728,240 shares during the period. Ally Bridge Group NY LLC bought a new stake in Day One Biopharmaceuticals in the 2nd quarter valued at $7,387,000. Point72 Asset Management L.P. bought a new position in shares of Day One Biopharmaceuticals during the 2nd quarter worth about $6,480,000. Finally, Janus Henderson Group PLC raised its position in shares of Day One Biopharmaceuticals by 19.8% during the first quarter. Janus Henderson Group PLC now owns 2,032,384 shares of the company’s stock valued at $33,575,000 after buying an additional 336,281 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

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.