Day One Biopharmaceuticals (NASDAQ:DAWN) Shares Up 26.2% – Should You Buy?

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s share price traded up 26.2% during trading on Wednesday . The company traded as high as $12.70 and last traded at $12.66. 5,165,907 shares were traded during mid-day trading, an increase of 114% from the average session volume of 2,412,917 shares. The stock had previously closed at $10.03.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. HC Wainwright cut their price target on Day One Biopharmaceuticals from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Zacks Research downgraded shares of Day One Biopharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Wedbush upped their target price on shares of Day One Biopharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. Weiss Ratings reissued a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a report on Monday, December 29th. Finally, Piper Sandler upped their price objective on Day One Biopharmaceuticals from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Seven analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Day One Biopharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $26.14.

Day One Biopharmaceuticals Stock Performance

The firm has a market cap of $1.32 billion, a P/E ratio of -12.41 and a beta of -1.25. The stock’s 50-day moving average is $10.74 and its 200 day moving average is $8.89.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its earnings results on Tuesday, February 24th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). The business had revenue of $53.72 million during 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%. On average, research analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Insider Activity

In other news, insider Adam Dubow sold 6,395 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $11.60, for a total value of $74,182.00. Following the completion of the transaction, the insider owned 72,694 shares in the company, valued at $843,250.40. This represents a 8.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeremy Bender sold 15,459 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total transaction of $179,324.40. Following the sale, the chief executive officer directly owned 204,603 shares of the company’s stock, valued at $2,373,394.80. This represents a 7.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 36,461 shares of company stock worth $422,948. Corporate insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Day One Biopharmaceuticals by 26.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,989 shares of the company’s stock valued at $46,000 after purchasing an additional 1,029 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Day One Biopharmaceuticals by 1.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 100,314 shares of the company’s stock worth $935,000 after acquiring an additional 1,425 shares during the period. Perkins Capital Management Inc. increased its stake in shares of Day One Biopharmaceuticals by 2.1% during the fourth quarter. Perkins Capital Management Inc. now owns 84,000 shares of the company’s stock worth $783,000 after purchasing an additional 1,750 shares during the period. CWM LLC increased its position in Day One Biopharmaceuticals by 32.4% during the 4th quarter. CWM LLC now owns 8,373 shares of the company’s stock worth $78,000 after buying an additional 2,051 shares during the period. Finally, ProShare Advisors LLC raised its stake in Day One Biopharmaceuticals by 12.9% in the 2nd quarter. ProShare Advisors LLC now owns 18,545 shares of the company’s stock worth $121,000 after purchasing an additional 2,121 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

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.