Day One Biopharmaceuticals (NASDAQ:DAWN) Hits New 12-Month High – Should You Buy?

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) hit a new 52-week high on Wednesday . The stock traded as high as $21.46 and last traded at $21.4350, with a volume of 1218 shares trading hands. The stock had previously closed at $21.44.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. TD Cowen downgraded shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. Wedbush reissued a “neutral” rating and issued a $21.50 price objective (down from $30.00) on shares of Day One Biopharmaceuticals in a research report on Monday, March 9th. Needham & Company LLC downgraded Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research report on Monday, December 29th. Finally, HC Wainwright reiterated a “neutral” rating and issued a $21.50 price target (down from $22.00) on shares of Day One Biopharmaceuticals in a research note on Tuesday, March 10th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $23.29.

Day One Biopharmaceuticals Stock Performance

The company has a market cap of $2.21 billion, a P/E ratio of -20.80 and a beta of -1.25. The business has a fifty day simple moving average of $15.03 and a 200 day simple moving average of $10.75.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings results on Tuesday, February 24th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). The firm had revenue of $53.72 million during the quarter, compared to the consensus estimate of $49.81 million. Day One Biopharmaceuticals had a negative net margin of 67.85% and a negative return on equity of 23.43%. Equities research analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Insider Activity at Day One Biopharmaceuticals

In related news, insider Lauren Merendino sold 5,814 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $11.60, for a total transaction of $67,442.40. Following the completion of the sale, the insider owned 60,157 shares of the company’s stock, valued at $697,821.20. This represents a 8.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael Vasconcelles sold 2,728 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total transaction of $31,644.80. Following the sale, the insider owned 4,397 shares in the company, valued at approximately $51,005.20. This trade represents a 38.29% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 36,461 shares of company stock valued at $422,948 in the last ninety days. 6.20% of the stock is owned by insiders.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Rubric Capital Management LP bought a new stake in shares of Day One Biopharmaceuticals in the 3rd quarter worth approximately $23,808,000. Vestal Point Capital LP grew its stake in Day One Biopharmaceuticals by 94.4% during the 4th quarter. Vestal Point Capital LP now owns 5,200,000 shares of the company’s stock worth $48,464,000 after buying an additional 2,525,000 shares during the last quarter. AIGH Capital Management LLC acquired a new stake in Day One Biopharmaceuticals in the third quarter worth $10,719,000. Mak Capital One LLC acquired a new stake in Day One Biopharmaceuticals in the third quarter worth $10,212,000. Finally, Balyasny Asset Management L.P. bought a new stake in Day One Biopharmaceuticals in the third quarter valued at $9,758,000. 87.95% of the stock is owned by institutional investors.

Day One Biopharmaceuticals Company Profile

Day One Biopharmaceuticals, Inc (NASDAQ: DAWN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted therapies for oncology. The company employs a precision medicine approach, leveraging biomarker-driven strategies to identify patient populations most likely to respond to its investigational compounds. By concentrating on well-validated molecular drivers of cancer, Day One seeks to deliver first-in-class or best-in-class therapies with the potential for meaningful clinical benefit.

The company’s pipeline includes several small-molecule candidates in various stages of development.