Day One Biopharmaceuticals (NASDAQ:DAWN) Reaches New 52-Week Low – What’s Next?

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) reached a new 52-week low during trading on Tuesday . The company traded as low as $8.24 and last traded at $8.25, with a volume of 2813185 shares. The stock had previously closed at $9.06.

Analyst Ratings Changes

A number of research firms have recently commented on DAWN. JPMorgan Chase & Co. cut their target price on Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday. The Goldman Sachs Group cut their target price on Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Wedbush reissued an “outperform” rating and issued a $32.00 target price on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. HC Wainwright cut their target price on Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $32.00 target price on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Day One Biopharmaceuticals currently has an average rating of “Buy” and a consensus target price of $34.57.

Day One Biopharmaceuticals Stock Up 12.8 %

The stock has a market capitalization of $983.14 million, a P/E ratio of -9.42 and a beta of -1.46. The business has a fifty day moving average price of $11.93 and a 200-day moving average price of $13.27.

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

Insider Activity

In other news, insider Samuel C. Blackman sold 30,000 shares of Day One Biopharmaceuticals stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $13.31, for a total transaction of $399,300.00. Following the transaction, the insider now directly owns 1,034,015 shares of the company’s stock, valued at $13,762,739.65. The trade was a 2.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeremy Bender sold 12,048 shares of Day One Biopharmaceuticals stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $144,094.08. Following the transaction, the chief executive officer now directly owns 128,015 shares in the company, valued at approximately $1,531,059.40. The trade was a 8.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,064 shares of company stock valued at $651,225 in the last ninety days. Corporate insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Day One Biopharmaceuticals by 38.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,611 shares of the company’s stock worth $51,000 after purchasing an additional 1,002 shares in the last quarter. Virtus ETF Advisers LLC lifted its holdings in Day One Biopharmaceuticals by 7.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 27,296 shares of the company’s stock worth $346,000 after purchasing an additional 1,805 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Day One Biopharmaceuticals by 5.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,843 shares of the company’s stock worth $454,000 after purchasing an additional 1,894 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Day One Biopharmaceuticals in the 4th quarter worth approximately $27,000. Finally, China Universal Asset Management Co. Ltd. lifted its holdings in Day One Biopharmaceuticals by 11.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 21,383 shares of the company’s stock worth $271,000 after purchasing an additional 2,180 shares in the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

About Day One Biopharmaceuticals

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.