Day One Biopharmaceuticals (NASDAQ:DAWN) Sets New 1-Year High - Here's What Happened

Key Points

• Day One Biopharmaceuticals (NASDAQ:DAWN) hit a new 52-week high of $21.46 (last $21.435) and has a market cap of $2.21 billion with 50/200-day moving averages of $14.18 and $10.33 respectively.
• Analyst consensus is a Hold with an average target of $23.29 after several recent downgrades and price-target revisions (one Buy, eight Hold, one Sell).
• The company reported Q4 EPS of $(0.21) versus $(0.17) expected while revenue of $53.72M beat estimates, and insiders have sold 36,461 shares (~$423K) in the past 90 days.

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $21.46 and last traded at $21.4350, with a volume of 585300 shares traded. The stock had previously closed at $21.37.

Analyst Ratings Changes

DAWN has been the subject of a number of research analyst reports. JonesTrading downgraded Day One Biopharmaceuticals from a "buy" rating to a "hold" rating and upped their price target for the company from $20.00 to $21.50 in a report on Friday, March 6th. Weiss Ratings restated a "sell (d-)" rating on shares of Day One Biopharmaceuticals in a research report on Monday, December 29th. Oppenheimer restated a "market perform" rating on shares of Day One Biopharmaceuticals in a report on Friday, March 6th. Wedbush reiterated 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. Finally, Needham & Company LLC cut shares of Day One Biopharmaceuticals from a "buy" rating to a "hold" rating in a research report on Friday, March 6th. One research 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's stock. According to MarketBeat.com, Day One Biopharmaceuticals has an average rating of "Hold" and an average target price of $23.29.

Day One Biopharmaceuticals Stock Performance

The stock has a market cap of $2.21 billion, a PE ratio of -20.81 and a beta of -1.25. The firm's 50-day moving average is $14.18 and its 200 day moving average is $10.33.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last posted 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). 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 analyst estimates of $49.81 million. On average, sell-side analysts predict that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.

Insider Activity at Day One Biopharmaceuticals

In other news, CFO Charles N. York II sold 6,065 shares of the company's stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total transaction of $70,354.00. Following the completion of the sale, the chief financial officer owned 312,025 shares in the company, valued at $3,619,490. This represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Vasconcelles sold 2,728 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 value of $31,644.80. Following the sale, the insider directly owned 4,397 shares of the company's stock, valued at approximately $51,005.20. This represents a 38.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 36,461 shares of company stock worth $422,948 in the last ninety days. Company insiders own 6.20% of the company's stock.

Institutional Trading of Day One Biopharmaceuticals

Hedge funds have recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. increased 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 worth $46,000 after acquiring an additional 1,029 shares during the period. Federated Hermes Inc. acquired a new stake in Day One Biopharmaceuticals in the third quarter valued at about $39,000. Quarry LP purchased a new stake in Day One Biopharmaceuticals in the 3rd quarter valued at approximately $49,000. Ameritas Investment Partners Inc. increased its position in Day One Biopharmaceuticals by 44.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,349 shares of the company's stock worth $48,000 after purchasing an additional 2,264 shares during the period. Finally, 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 purchasing an additional 2,051 shares during the period. 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.

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