Day One Biopharmaceuticals (NASDAQ:DAWN) Reaches New 1-Year High – Should You Buy?

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $21.46 and last traded at $21.4350, with a volume of 1218 shares changing hands. The stock had previously closed at $21.44.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DAWN shares. Oppenheimer restated a “market perform” rating on shares of Day One Biopharmaceuticals in a research report on Friday, March 6th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $21.50 price target (down from $27.00) on shares of Day One Biopharmaceuticals in a report on Wednesday, March 11th. Wedbush reissued a “neutral” rating and set a $21.50 price target (down from $30.00) on shares of Day One Biopharmaceuticals in a research note on Monday, March 9th. Zacks Research downgraded Day One Biopharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Finally, JonesTrading lowered Day One Biopharmaceuticals from a “buy” rating to a “hold” rating and upped their target price for the company from $20.00 to $21.50 in a research note on Friday, March 6th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $23.29.

Day One Biopharmaceuticals Stock Performance

The stock has a fifty day moving average price of $15.40 and a 200-day moving average price of $10.90. The firm has a market cap of $2.22 billion, a PE ratio of -20.83 and a beta of -1.74.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings results on Tuesday, February 24th. The company reported ($0.21) 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 business had revenue of $53.72 million during the quarter, compared to analysts’ expectations of $49.81 million. As a group, equities analysts predict that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling at Day One Biopharmaceuticals

In related news, insider Lauren Merendino sold 5,814 shares of the company’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 sale, the insider directly owned 60,157 shares of the company’s stock, valued at approximately $697,821.20. This represents a 8.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam Dubow sold 6,395 shares of the stock in a transaction 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 sale, the insider owned 72,694 shares of the company’s stock, valued at approximately $843,250.40. This represents a 8.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 36,461 shares of company stock worth $422,948. Corporate insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Several hedge funds have recently modified their holdings of DAWN. Federated Hermes Inc. purchased a new position in Day One Biopharmaceuticals in the 3rd quarter worth approximately $39,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Day One Biopharmaceuticals by 26.0% during 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 period. Ameritas Investment Partners Inc. raised its stake in shares of Day One Biopharmaceuticals by 44.5% during the second quarter. Ameritas Investment Partners Inc. now owns 7,349 shares of the company’s stock valued at $48,000 after purchasing an additional 2,264 shares during the period. Quarry LP acquired a new position in shares of Day One Biopharmaceuticals during the third quarter worth $49,000. Finally, Prudential Financial Inc. acquired a new position in shares of Day One Biopharmaceuticals during the second quarter worth $69,000. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

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.