Day One Biopharmaceuticals (NASDAQ:DAWN) Sets New 52-Week High – Here’s Why

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $21.44 and last traded at $21.44, with a volume of 6829673 shares. The stock had previously closed at $21.39.

Wall Street Analyst Weigh In

DAWN has been the subject of several recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a report on Monday, December 29th. HC Wainwright reiterated a “neutral” rating and issued a $21.50 target price (down from $22.00) on shares of Day One Biopharmaceuticals in a report on Tuesday, March 10th. Wedbush reissued a “neutral” rating and issued a $21.50 price target (down from $30.00) on shares of Day One Biopharmaceuticals in a research report on Monday, March 9th. JPMorgan Chase & Co. restated a “neutral” rating and set a $21.50 price target (down from $27.00) on shares of Day One Biopharmaceuticals in a research note on Wednesday, March 11th. Finally, TD Cowen downgraded shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, March 6th. Two investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $23.75.

Day One Biopharmaceuticals Stock Performance

The firm has a market capitalization of $2.21 billion, a P/E ratio of -20.77 and a beta of -1.25. The firm has a 50 day simple moving average of $13.30 and a two-hundred day simple moving average of $9.93.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its earnings results on Tuesday, February 24th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 23.43% and a negative net margin of 67.85%. Sell-side analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current year.

Insider Buying and Selling at Day One Biopharmaceuticals

In other news, insider Michael Vasconcelles sold 2,728 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total value of $31,644.80. Following the completion of the transaction, the insider directly owned 4,397 shares of the company’s stock, valued at $51,005.20. This represents a 38.29% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jeremy Bender sold 15,459 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $11.60, for a total value of $179,324.40. Following the sale, the chief executive officer directly owned 204,603 shares of the company’s stock, valued at $2,373,394.80. The trade was a 7.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 36,461 shares of company stock valued at $422,948 in the last quarter. 6.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Day One Biopharmaceuticals by 26.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,989 shares of the company’s stock valued at $46,000 after purchasing an additional 1,029 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Day One Biopharmaceuticals by 1.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 100,314 shares of the company’s stock worth $935,000 after buying an additional 1,425 shares during the last quarter. Perkins Capital Management Inc. boosted its holdings in shares of Day One Biopharmaceuticals by 2.1% in the 4th quarter. Perkins Capital Management Inc. now owns 84,000 shares of the company’s stock worth $783,000 after buying an additional 1,750 shares during the last quarter. CWM LLC grew 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 valued at $78,000 after buying an additional 2,051 shares during the period. Finally, ProShare Advisors LLC grew its position in Day One Biopharmaceuticals by 12.9% during the second quarter. ProShare Advisors LLC now owns 18,545 shares of the company’s stock valued at $121,000 after buying an additional 2,121 shares during the period. 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.