Day One Biopharmaceuticals (NASDAQ:DAWN) Sets New 1-Year High – What’s Next?

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Wedbush reaffirmed a “neutral” rating and issued a $21.50 price objective (down from $30.00) on shares of Day One Biopharmaceuticals in a report on Monday, March 9th. Oppenheimer reaffirmed a “market perform” rating on shares of Day One Biopharmaceuticals in a report on Friday, March 6th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $21.50 price objective (down from $27.00) on shares of Day One Biopharmaceuticals in a report on Wednesday, March 11th. TD Cowen downgraded shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, March 6th. Finally, HC Wainwright reaffirmed a “neutral” rating and issued a $21.50 price objective (down from $22.00) on shares of Day One Biopharmaceuticals in a report on Tuesday, March 10th. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $23.29.

Day One Biopharmaceuticals Price Performance

The company has a market cap of $2.22 billion, a price-to-earnings ratio of -20.83 and a beta of -1.74. The firm’s fifty day moving average price is $15.78 and its 200-day moving average price is $11.16.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings results on Tuesday, February 24th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $53.72 million for the quarter, compared to analyst estimates of $49.81 million. As a group, equities analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

Insider Activity at Day One Biopharmaceuticals

In other news, insider Lauren Merendino sold 5,814 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $11.60, for a total transaction of $67,442.40. Following the completion of the transaction, the insider owned 60,157 shares of the company’s stock, valued at approximately $697,821.20. The trade was a 8.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeremy Bender sold 15,459 shares of the business’s stock in a transaction 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 transaction, the chief executive officer directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 36,461 shares of company stock valued at $422,948. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Day One Biopharmaceuticals by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 6,282,376 shares of the company’s stock worth $58,552,000 after purchasing an additional 101,047 shares during the period. Vestal Point Capital LP lifted its holdings in Day One Biopharmaceuticals by 94.4% in the fourth quarter. Vestal Point Capital LP now owns 5,200,000 shares of the company’s stock worth $48,464,000 after purchasing an additional 2,525,000 shares during the period. Deerfield Management Company L.P. lifted its holdings in Day One Biopharmaceuticals by 26.4% in the third quarter. Deerfield Management Company L.P. now owns 4,705,413 shares of the company’s stock worth $33,173,000 after purchasing an additional 982,282 shares during the period. State Street Corp lifted its holdings 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 worth $39,979,000 after purchasing an additional 1,049,122 shares during the period. Finally, Rubric Capital Management LP acquired a new stake in Day One Biopharmaceuticals in the third quarter worth about $23,808,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

Day One Biopharmaceuticals Company Profile

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.