Day One Biopharmaceuticals (NASDAQ:DAWN) Sets New 1-Year High – Here’s What Happened

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $21.46 and last traded at $21.4350, with a volume of 585300 shares trading hands. The stock had previously closed at $21.37.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on DAWN. Needham & Company LLC lowered Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, March 6th. Wedbush restated a “neutral” rating and set a $21.50 target price (down from $30.00) on shares of Day One Biopharmaceuticals in a research report on Monday, March 9th. Zacks Research cut shares of Day One Biopharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a report on Monday, December 29th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $21.50 price objective (down from $27.00) on shares of Day One Biopharmaceuticals in a research note on Wednesday, March 11th. One equities 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 stock. Based on data from MarketBeat, Day One Biopharmaceuticals has an average rating of “Hold” and an average target price of $23.29.

Day One Biopharmaceuticals Trading Up 0.3%

The firm has a 50 day moving average price of $14.18 and a 200-day moving average price of $10.33. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of -20.81 and a beta of -1.25.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings data on Tuesday, February 24th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $53.72 million during the quarter, compared to analyst estimates of $49.81 million. As a group, equities analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

Insider Activity

In other Day One Biopharmaceuticals news, CFO Charles N. York II sold 6,065 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 $70,354.00. Following the sale, the chief financial officer directly owned 312,025 shares of the company’s stock, valued at $3,619,490. This trade represents a 1.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lauren Merendino sold 5,814 shares of Day One Biopharmaceuticals stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total transaction of $67,442.40. Following the sale, the insider owned 60,157 shares of the company’s stock, valued at approximately $697,821.20. This trade represents a 8.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 36,461 shares of company stock worth $422,948 in the last quarter. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Royal Bank of Canada lifted its stake in shares of Day One Biopharmaceuticals by 40.4% during the 1st quarter. Royal Bank of Canada now owns 185,733 shares of the company’s stock worth $1,474,000 after purchasing an additional 53,459 shares during the period. AQR Capital Management LLC grew its position in shares of Day One Biopharmaceuticals by 601.4% in the first quarter. AQR Capital Management LLC now owns 618,627 shares of the company’s stock valued at $4,906,000 after purchasing an additional 530,429 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Day One Biopharmaceuticals by 6.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,992 shares of the company’s stock worth $302,000 after acquiring an additional 2,149 shares during the period. Millennium Management LLC raised its stake in Day One Biopharmaceuticals by 587.2% during the first quarter. Millennium Management LLC now owns 1,320,095 shares of the company’s stock worth $10,468,000 after purchasing an additional 1,127,995 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Day One Biopharmaceuticals by 232.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,569,918 shares of the company’s stock valued at $12,449,000 after purchasing an additional 1,097,679 shares during the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

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.