Day One Biopharmaceuticals (NASDAQ:DAWN) Hits New 1-Year High – What’s Next?

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s stock price hit a new 52-week high on Monday . The company traded as high as $21.49 and last traded at $21.4850, with a volume of 66811 shares traded. The stock had previously closed at $21.47.

Wall Street Analysts Forecast Growth

DAWN has been the subject of a number of recent research reports. Wedbush reiterated a “neutral” rating and set a $21.50 price target (down from $30.00) on shares of Day One Biopharmaceuticals in a research note on Monday, March 9th. JonesTrading cut shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating and increased their price target for the stock from $20.00 to $21.50 in a research note on Friday, March 6th. TD Cowen cut shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research note on Monday, December 29th. Finally, Needham & Company LLC downgraded shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, March 6th. One research analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Day One Biopharmaceuticals currently has a consensus rating of “Hold” and an average price target of $23.29.

Day One Biopharmaceuticals Stock Up 0.1%

The company’s fifty day moving average price is $17.61 and its two-hundred day moving average price is $12.08. The firm has a market cap of $2.22 billion, a PE ratio of -20.86 and a beta of -1.74.

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

Insider Transactions at Day One Biopharmaceuticals

In related news, insider Michael Vasconcelles sold 2,728 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $11.60, for a total value of $31,644.80. Following the completion of the sale, the insider owned 4,397 shares in the company, valued at $51,005.20. This trade represents a 38.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jeremy Bender sold 15,459 shares of the firm’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 $179,324.40. Following the completion of the sale, the chief executive officer owned 204,603 shares of the company’s stock, valued at $2,373,394.80. This trade represents a 7.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 36,461 shares of company stock valued at $422,948. 6.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. acquired a new position in Day One Biopharmaceuticals during the third quarter worth about $39,000. Mirae Asset Global Investments Co. Ltd. raised its position in Day One Biopharmaceuticals by 26.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,989 shares of the company’s stock worth $46,000 after acquiring an additional 1,029 shares during the last quarter. Quarry LP acquired a new position in Day One Biopharmaceuticals during the third quarter worth about $49,000. Prudential Financial Inc. acquired a new position in Day One Biopharmaceuticals during the second quarter worth about $69,000. Finally, CWM LLC raised its position in Day One Biopharmaceuticals by 32.4% during the fourth quarter. CWM LLC now owns 8,373 shares of the company’s stock worth $78,000 after acquiring an additional 2,051 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 (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.