Day One Biopharmaceuticals (NASDAQ:DAWN) Hits New 12-Month High – What’s Next?

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wedbush restated a “neutral” rating and issued a $21.50 price objective (down from $30.00) on shares of Day One Biopharmaceuticals in a research note on Monday, March 9th. Zacks Research lowered shares of Day One Biopharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Oppenheimer reiterated a “market perform” rating on shares of Day One Biopharmaceuticals in a report on Friday, March 6th. TD Cowen lowered shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. Finally, 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 report on Wednesday, March 11th. Two research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Day One Biopharmaceuticals presently has an average rating of “Hold” and a consensus target price of $23.75.

Day One Biopharmaceuticals Stock Up 0.2%

The stock’s 50-day moving average price is $13.55 and its 200 day moving average price is $10.04. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of -20.82 and a beta of -1.25.

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

Insider Buying and Selling

In other Day One Biopharmaceuticals news, CFO Charles N. York II sold 6,065 shares of the firm’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 $70,354.00. Following the completion of the sale, the chief financial officer owned 312,025 shares in the company, valued at approximately $3,619,490. This trade represents a 1.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lauren Merendino sold 5,814 shares of Day One Biopharmaceuticals 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 $67,442.40. Following the sale, the insider directly owned 60,157 shares in the company, valued at $697,821.20. The trade was a 8.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 36,461 shares of company stock worth $422,948. 6.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Day One Biopharmaceuticals by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 6,282,376 shares of the company’s stock valued at $58,552,000 after buying an additional 101,047 shares in the last quarter. Vestal Point Capital LP boosted its position in shares of Day One Biopharmaceuticals by 94.4% during the 4th quarter. Vestal Point Capital LP now owns 5,200,000 shares of the company’s stock valued at $48,464,000 after acquiring an additional 2,525,000 shares in the last quarter. Deerfield Management Company L.P. boosted its position in shares of Day One Biopharmaceuticals by 26.4% during the 3rd quarter. Deerfield Management Company L.P. now owns 4,705,413 shares of the company’s stock valued at $33,173,000 after acquiring an additional 982,282 shares in the last quarter. State Street Corp increased its stake in Day One Biopharmaceuticals by 32.4% in the fourth quarter. State Street Corp now owns 4,289,566 shares of the company’s stock valued at $39,979,000 after acquiring an additional 1,049,122 shares during the period. Finally, Franklin Resources Inc. increased its stake in Day One Biopharmaceuticals by 2.0% in the second quarter. Franklin Resources Inc. now owns 4,097,625 shares of the company’s stock valued at $26,635,000 after acquiring an additional 79,255 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.