Day One Biopharmaceuticals (NASDAQ:DAWN) Sets New 52-Week High – Here’s What Happened

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $21.49 and last traded at $21.4750, with a volume of 107854 shares trading hands. The stock had previously closed at $21.48.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. TD Cowen downgraded 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 price objective (down from $27.00) on shares of Day One Biopharmaceuticals in a research note on Wednesday, March 11th. JonesTrading downgraded shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating and upped their price objective for the company from $20.00 to $21.50 in a research note on Friday, March 6th. Oppenheimer reaffirmed a “market perform” rating on shares of Day One Biopharmaceuticals in a research note on Friday, March 6th. Finally, 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. One analyst has rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Day One Biopharmaceuticals presently has a consensus rating of “Hold” and an average price target of $23.29.

Day One Biopharmaceuticals Trading Down 0.1%

The stock has a market cap of $2.22 billion, a P/E ratio of -20.83 and a beta of -1.74. The stock’s fifty day moving average price is $16.97 and its 200 day moving average price is $11.78.

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

Insider Buying and Selling at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, CEO Jeremy Bender sold 15,459 shares of the firm’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 transaction of $179,324.40. Following the completion of the transaction, the chief executive officer owned 204,603 shares of the company’s stock, valued at approximately $2,373,394.80. This trade represents a 7.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Charles N. York II sold 6,065 shares of the firm’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 transaction of $70,354.00. Following the transaction, the chief financial officer directly owned 312,025 shares of the company’s stock, valued at $3,619,490. This represents a 1.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 36,461 shares of company stock valued at $422,948. 6.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DAWN. Rubric Capital Management LP bought a new position in Day One Biopharmaceuticals during the 3rd quarter valued at approximately $23,808,000. Vestal Point Capital LP increased its position in 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 buying an additional 2,525,000 shares in the last quarter. AIGH Capital Management LLC bought a new position in Day One Biopharmaceuticals during the 3rd quarter valued at approximately $10,719,000. Mak Capital One LLC bought a new position in Day One Biopharmaceuticals during the 3rd quarter valued at approximately $10,212,000. Finally, Balyasny Asset Management L.P. bought a new position in Day One Biopharmaceuticals during the 3rd quarter valued at approximately $9,758,000. 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.