Day One Biopharmaceuticals (NASDAQ:DAWN) Shares Gap Up – Here’s What Happened

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) gapped up prior to trading on Monday . The stock had previously closed at $8.94, but opened at $10.83. Day One Biopharmaceuticals shares last traded at $10.79, with a volume of 1,907,004 shares traded.

Analyst Ratings Changes

DAWN has been the topic of a number of analyst reports. HC Wainwright reissued a “buy” rating and issued a $25.00 price target on shares of Day One Biopharmaceuticals in a research note on Monday, November 24th. Zacks Research raised shares of Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. TD Cowen initiated coverage on shares of Day One Biopharmaceuticals in a report on Tuesday. They set a “buy” rating and a $34.00 price target on the stock. JPMorgan Chase & Co. raised their price objective on shares of Day One Biopharmaceuticals from $26.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $16.00 price objective on shares of Day One Biopharmaceuticals in a research report on Monday, November 24th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $25.71.

Day One Biopharmaceuticals Price Performance

The stock has a market capitalization of $1.10 billion, a P/E ratio of -7.06 and a beta of -1.27. The stock’s fifty day moving average is $9.09 and its 200-day moving average is $7.74.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.09. The company had revenue of $39.80 million during the quarter, compared to the consensus estimate of $38.20 million. Day One Biopharmaceuticals had a negative return on equity of 32.05% and a negative net margin of 113.53%.The firm’s revenue was down 57.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 EPS. On average, research analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Charles N. York II sold 4,062 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $8.91, for a total transaction of $36,192.42. Following the transaction, the chief financial officer owned 294,715 shares of the company’s stock, valued at approximately $2,625,910.65. The trade was a 1.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Adam Dubow sold 4,319 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $8.91, for a total transaction of $38,482.29. Following the transaction, the insider owned 62,626 shares of the company’s stock, valued at approximately $557,997.66. The trade was a 6.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 28,001 shares of company stock valued at $249,489. 6.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Schroder Investment Management Group acquired a new stake in Day One Biopharmaceuticals during the 2nd quarter worth $1,171,000. Geode Capital Management LLC raised its position in shares of Day One Biopharmaceuticals by 11.2% during the second quarter. Geode Capital Management LLC now owns 1,712,429 shares of the company’s stock worth $11,132,000 after purchasing an additional 171,964 shares during the period. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Day One Biopharmaceuticals by 71.7% during the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 83,223 shares of the company’s stock valued at $541,000 after purchasing an additional 34,766 shares in the last quarter. Virtus Investment Advisers LLC lifted its holdings in shares of Day One Biopharmaceuticals by 137.0% during the 2nd quarter. Virtus Investment Advisers LLC now owns 66,427 shares of the company’s stock valued at $432,000 after purchasing an additional 38,397 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in Day One Biopharmaceuticals by 8.3% during the 1st quarter. Rhumbline Advisers now owns 81,844 shares of the company’s stock worth $649,000 after purchasing an additional 6,291 shares in the last quarter. Institutional investors own 87.95% of the company’s stock.

About Day One Biopharmaceuticals

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.