Day One Biopharmaceuticals (NASDAQ:DAWN) Trading Up 5% - Should You Buy?

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report) shares were up 5% during mid-day trading on Monday . The stock traded as high as $7.03 and last traded at $7.18. Approximately 168,101 shares traded hands during trading, a decline of 85% from the average daily volume of 1,116,017 shares. The stock had previously closed at $6.84.

Wall Street Analysts Forecast Growth

DAWN has been the topic of a number of analyst reports. Bank of America lowered their target price on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, January 7th. Needham & Company LLC reiterated a "buy" rating and issued a $32.00 price objective on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. JPMorgan Chase & Co. cut their target price on Day One Biopharmaceuticals from $39.00 to $34.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. HC Wainwright reiterated a "buy" rating and issued a $36.00 price target on shares of Day One Biopharmaceuticals in a research report on Thursday, April 3rd. Finally, Wedbush reissued an "outperform" rating and set a $32.00 price objective on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $32.29.

Day One Biopharmaceuticals Stock Down 2.0 %

The stock has a market capitalization of $784.48 million, a price-to-earnings ratio of -7.51 and a beta of -1.24. The business's 50 day simple moving average is $8.36 and its 200-day simple moving average is $11.60.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.34). The company had revenue of $29.21 million during the quarter, compared to analyst estimates of $27.11 million. On average, analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current year.

Insider Activity

In other Day One Biopharmaceuticals news, CFO Charles N. York II sold 4,370 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total transaction of $52,265.20. Following the sale, the chief financial officer now owns 252,638 shares in the company, valued at $3,021,550.48. This represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Adam Dubow sold 4,646 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total value of $55,566.16. Following the completion of the sale, the general counsel now owns 39,602 shares in the company, valued at $473,639.92. This trade represents a 10.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,064 shares of company stock valued at $251,925. Company insiders own 6.20% of the company's stock.

Institutional Investors Weigh In On Day One Biopharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of DAWN. Geode Capital Management LLC grew its position in shares of Day One Biopharmaceuticals by 10.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,432,697 shares of the company's stock worth $19,961,000 after buying an additional 136,458 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Day One Biopharmaceuticals by 2.3% in the third quarter. Franklin Resources Inc. now owns 3,869,632 shares of the company's stock valued at $55,336,000 after acquiring an additional 87,262 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in Day One Biopharmaceuticals by 90.6% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 121,167 shares of the company's stock valued at $1,535,000 after purchasing an additional 57,601 shares during the period. SG Americas Securities LLC bought a new position in Day One Biopharmaceuticals in the 4th quarter worth $866,000. Finally, R Squared Ltd purchased a new stake in shares of Day One Biopharmaceuticals in the 4th quarter worth about $31,000. Institutional investors own 87.95% of the company's stock.

Day One Biopharmaceuticals Company Profile

Day One Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops and commercializes targeted therapies for patients with genomically defined cancers. Its lead product candidate is tovorafenib, an oral brain-penetrant type II pan-rapidly accelerated fibrosarcoma kinase inhibitor that is in Phase II clinical trial for pediatric patients with relapsed/ refractory low-grade glioma.