Day One Biopharmaceuticals (NASDAQ:DAWN) Hits New 1-Year High - What's Next?

Key Points

• Day One Biopharmaceuticals hit a new 52-week high of $21.49 (last trade $21.4850) and trades well above its 50-day ($17.61) and 200-day ($12.08) moving averages, with a market cap of $2.22 billion.
• Analysts have an average rating of Hold (1 Buy, 8 Holds, 1 Sell) with a consensus target of $23.29, and several firms have recently downgraded the stock.
• Fundamentals are mixed: Q4 EPS of ($0.21) missed estimates of ($0.17) while revenue beat at $53.72M, the company remains unprofitable (negative net margin ~67.9%), and insiders sold roughly 36,461 shares in the last three months.

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $21.49 and last traded at $21.4850, with a volume of 66811 shares. The stock had previously closed at $21.47.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DAWN. TD Cowen lowered shares of Day One Biopharmaceuticals from a "buy" rating to a "hold" rating in a report on Friday, March 6th. Zacks Research lowered shares of Day One Biopharmaceuticals from a "strong-buy" rating to a "hold" rating in a report on Wednesday, February 25th. Oppenheimer reiterated a "market perform" rating on shares of Day One Biopharmaceuticals in a report on Friday, March 6th. Needham & Company LLC lowered shares of Day One Biopharmaceuticals from a "buy" rating to a "hold" rating in a report on Friday, March 6th. Finally, HC Wainwright reiterated a "neutral" rating and set a $21.50 target price (down from $22.00) on shares of Day One Biopharmaceuticals in a report on Tuesday, March 10th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $23.29.

Day One Biopharmaceuticals Stock Performance

The stock's 50-day simple moving average is $17.61 and its 200 day simple moving average is $12.08. The company has a market capitalization of $2.22 billion, a PE ratio of -20.86 and a beta of -1.74.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The company reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.04). The firm had revenue of $53.72 million during the quarter, compared to analysts' expectations 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, analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current year.

Insider Transactions at Day One Biopharmaceuticals

In related news, insider Lauren Merendino sold 5,814 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 $67,442.40. Following the transaction, the insider directly owned 60,157 shares of the company's stock, valued at $697,821.20. This trade represents a 8.81% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 transaction of $74,182.00. Following the completion of the transaction, the insider directly owned 72,694 shares in the company, valued at $843,250.40. This trade represents a 8.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 36,461 shares of company stock worth $422,948. Insiders own 6.20% of the company's stock.

Institutional Trading of Day One Biopharmaceuticals

Large investors have recently bought and sold shares of the business. Federated Hermes Inc. acquired a new stake in Day One Biopharmaceuticals during the 3rd quarter worth $39,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Day One Biopharmaceuticals by 26.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,989 shares of the company's stock worth $46,000 after purchasing an additional 1,029 shares during the period. Quarry LP acquired a new stake in Day One Biopharmaceuticals during the 3rd quarter worth $49,000. Prudential Financial Inc. acquired a new stake in Day One Biopharmaceuticals during the 2nd quarter worth $69,000. Finally, CWM LLC boosted its stake 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 purchasing an additional 2,051 shares during the period. Institutional investors and hedge funds 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.

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