Day One Biopharmaceuticals (NASDAQ:DAWN) Shares Gap Up – What’s Next?

Shares of 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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Day One Biopharmaceuticals from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of Day One Biopharmaceuticals in a research report on Monday, November 24th. Needham & Company LLC reiterated a “buy” rating and set a $16.00 target price on shares of Day One Biopharmaceuticals in a research note on Monday, November 24th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a report on Monday, December 29th. 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, six have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $24.33.

Day One Biopharmaceuticals Stock Up 26.1%

The stock’s 50 day moving average price is $8.94 and its 200-day moving average price is $7.68. The stock has a market capitalization of $1.16 billion, a PE ratio of -7.40 and a beta of -1.27.

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

Insiders Place Their Bets

In other news, insider Adam Dubow sold 4,319 shares of Day One Biopharmaceuticals stock in a transaction that occurred 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 sale, the insider owned 62,626 shares in the company, valued at $557,997.66. This trade represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Charles N. York II sold 4,062 shares of the company’s stock in a transaction on Monday, November 17th. The stock was 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. This represents a 1.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 28,001 shares of company stock worth $249,489 over the last quarter. Company insiders own 6.20% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Federated Hermes Inc. bought a new position in shares of Day One Biopharmaceuticals during the 3rd quarter valued at about $39,000. Quarry LP bought a new position in Day One Biopharmaceuticals during the third quarter valued at approximately $49,000. Ameritas Investment Partners Inc. boosted its stake in Day One Biopharmaceuticals by 44.5% during the second quarter. Ameritas Investment Partners Inc. now owns 7,349 shares of the company’s stock valued at $48,000 after buying an additional 2,264 shares during the last quarter. Entropy Technologies LP purchased a new position in Day One Biopharmaceuticals during the 2nd quarter valued at approximately $67,000. Finally, Prudential Financial Inc. bought a new stake in Day One Biopharmaceuticals in the 2nd quarter worth approximately $69,000. 87.95% of the stock is currently owned by 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.