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

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s share price hit a new 52-week high during 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.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. TD Cowen cut Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, March 6th. Wedbush reiterated a “neutral” rating and issued a $21.50 target price (down from $30.00) on shares of Day One Biopharmaceuticals in a report on Monday, March 9th. Zacks Research cut Day One Biopharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. HC Wainwright reiterated a “neutral” rating and issued a $21.50 target price (down from $22.00) on shares of Day One Biopharmaceuticals in a report on Tuesday, March 10th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Day One Biopharmaceuticals in a 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, Day One Biopharmaceuticals currently has a consensus rating of “Hold” and an average price target of $23.29.

Day One Biopharmaceuticals Trading Up 0.0%

The stock has a market capitalization of $2.22 billion, a P/E ratio of -20.86 and a beta of -1.74. The stock has a 50 day moving average of $18.01 and a 200-day moving average of $12.28.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings results on Tuesday, February 24th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). Day One Biopharmaceuticals had a negative return on equity of 23.43% and a negative net margin of 67.85%.The business had revenue of $53.72 million for the quarter, compared to the consensus estimate of $49.81 million. Research analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.86 EPS for the current year.

Insider Activity

In other Day One Biopharmaceuticals news, insider Michael Vasconcelles sold 2,728 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total transaction of $31,644.80. Following the completion of the sale, the insider directly owned 4,397 shares of the company’s stock, valued at $51,005.20. The trade was a 38.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeremy Bender sold 15,459 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $11.60, for a total value of $179,324.40. Following the sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 36,461 shares of company stock worth $422,948 in the last three months. Corporate insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the company. AIGH Capital Management LLC bought a new position in shares of Day One Biopharmaceuticals in the 3rd quarter worth $10,719,000. AlphaQuest LLC raised its position in shares of Day One Biopharmaceuticals by 1,065.6% in the 3rd quarter. AlphaQuest LLC now owns 185,006 shares of the company’s stock worth $1,304,000 after acquiring an additional 169,134 shares in the last quarter. Mak Capital One LLC bought a new position in shares of Day One Biopharmaceuticals in the 3rd quarter worth $10,212,000. Hennion & Walsh Asset Management Inc. raised its position in shares of Day One Biopharmaceuticals by 229.7% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 313,455 shares of the company’s stock worth $2,921,000 after acquiring an additional 218,383 shares in the last quarter. Finally, Algert Global LLC raised its position in shares of Day One Biopharmaceuticals by 45.4% in the 3rd quarter. Algert Global LLC now owns 1,317,042 shares of the company’s stock worth $9,285,000 after acquiring an additional 411,000 shares in the last quarter. 87.95% of the stock is owned by institutional investors.

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.