Day One Biopharmaceuticals (NASDAQ:DAWN) Sees Unusually-High Trading Volume – Should You Buy?

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) shares saw strong trading volume on Monday . 3,138,548 shares traded hands during mid-day trading, an increase of 105% from the previous session’s volume of 1,528,356 shares.The stock last traded at $8.5750 and had previously closed at $7.92.

Wall Street Analyst Weigh In

DAWN has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a report on Monday. JPMorgan Chase & Co. increased their price objective on Day One Biopharmaceuticals from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Needham & Company LLC restated a “buy” rating and set a $16.00 price target on shares of Day One Biopharmaceuticals in a research note on Monday, November 24th. Piper Sandler boosted their price target on shares of Day One Biopharmaceuticals from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Finally, Zacks Research raised Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. One research 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’s stock. According to MarketBeat, Day One Biopharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.43.

Day One Biopharmaceuticals Stock Performance

The firm’s 50-day moving average price is $8.16 and its 200 day moving average price is $7.29.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.09. The company had revenue of $39.80 million for 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 quarterly revenue was down 57.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 EPS. Research analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current year.

Insider Activity

In other Day One Biopharmaceuticals news, CFO Charles N. York II sold 4,062 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $8.91, for a total value of $36,192.42. Following the sale, the chief financial officer directly owned 294,715 shares in the company, valued at approximately $2,625,910.65. This trade represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lauren Merendino sold 3,726 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $8.91, for a total value of $33,198.66. Following the sale, the insider directly owned 50,809 shares in the company, valued at $452,708.19. The trade was a 6.83% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 28,001 shares of company stock valued at $249,489. 6.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Schroder Investment Management Group acquired a new position in Day One Biopharmaceuticals during the second quarter valued at approximately $1,171,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Day One Biopharmaceuticals in the first quarter valued at $384,000. Ieq Capital LLC bought a new position in Day One Biopharmaceuticals in the 1st quarter valued at about $294,000. Parkman Healthcare Partners LLC increased its stake in shares of Day One Biopharmaceuticals by 4.3% during the first quarter. Parkman Healthcare Partners LLC now owns 1,043,162 shares of the company’s stock worth $8,272,000 after purchasing an additional 42,688 shares during the period. Finally, Geode Capital Management LLC lifted its holdings 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 buying an additional 171,964 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Day One Biopharmaceuticals Company Profile

Day One Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops and commercializes targeted therapies for patients with genomically defined cancers. Its lead product candidate is tovorafenib, an oral brain-penetrant type II pan-rapidly accelerated fibrosarcoma kinase inhibitor that is in Phase II clinical trial for pediatric patients with relapsed/ refractory low-grade glioma.