Day One Biopharmaceuticals (NASDAQ:DAWN) Hits New 52-Week High – What’s Next?

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $21.47 and last traded at $21.46, with a volume of 904610 shares. The stock had previously closed at $21.45.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wedbush reaffirmed a “neutral” rating and set a $21.50 target price (down from $30.00) on shares of Day One Biopharmaceuticals in a research note 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. TD Cowen cut shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $21.50 target price (down from $27.00) on shares of Day One Biopharmaceuticals in a research note on Wednesday, March 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $23.29.

Day One Biopharmaceuticals Stock Performance

The firm’s 50-day moving average price is $16.16 and its two-hundred day moving average price is $11.33. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -20.82 and a beta of -1.74.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings results on Tuesday, February 24th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.04). The firm had revenue of $53.72 million for the quarter, compared to analyst estimates of $49.81 million. Day One Biopharmaceuticals had a negative net margin of 67.85% and a negative return on equity of 23.43%. As a group, sell-side analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Adam Dubow sold 6,395 shares of the business’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 $74,182.00. Following the transaction, the insider owned 72,694 shares of the company’s stock, valued at approximately $843,250.40. The trade was a 8.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Charles N. York II sold 6,065 shares of the business’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 transaction, the chief financial officer directly owned 312,025 shares in the company, valued at approximately $3,619,490. The trade was a 1.91% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 36,461 shares of company stock worth $422,948. Insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted 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 acquiring an additional 1,029 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in Day One Biopharmaceuticals by 1.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 100,314 shares of the company’s stock valued at $935,000 after buying an additional 1,425 shares during the last quarter. Perkins Capital Management Inc. lifted its position in Day One Biopharmaceuticals by 2.1% in the fourth quarter. Perkins Capital Management Inc. now owns 84,000 shares of the company’s stock valued at $783,000 after buying an additional 1,750 shares during the last quarter. CWM LLC lifted its position in Day One Biopharmaceuticals by 32.4% in 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 last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Day One Biopharmaceuticals by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,992 shares of the company’s stock valued at $302,000 after buying an additional 2,149 shares during the last quarter. Institutional investors and hedge funds 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.