Day One Biopharmaceuticals (NASDAQ:DAWN) Hits New 1-Year Low – What’s Next?

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

Analyst Upgrades and Downgrades

DAWN has been the topic of a number of analyst reports. Bank of America dropped their target price on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Wedbush reissued an “outperform” rating and issued a $32.00 price objective on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. HC Wainwright reduced their target price on Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. The Goldman Sachs Group dropped their price target on shares of 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. Finally, TD Cowen raised shares of Day One Biopharmaceuticals to a “strong-buy” rating in a report on Monday, November 4th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $34.86.

Day One Biopharmaceuticals Trading Down 8.9 %

The firm’s fifty day moving average is $12.07 and its 200-day moving average is $13.33. The stock has a market capitalization of $836.18 million, a PE ratio of -8.01 and a beta of -1.46.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.34). The firm had revenue of $29.21 million for the quarter, compared to analysts’ expectations of $27.11 million. As a group, equities analysts predict that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Insider Transactions at Day One Biopharmaceuticals

In other news, insider Samuel C. Blackman sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $13.31, for a total value of $399,300.00. Following the completion of the transaction, the insider now owns 1,034,015 shares of the company’s stock, valued at approximately $13,762,739.65. This trade represents a 2.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Charles N. York II sold 4,370 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 252,638 shares of the company’s stock, valued at approximately $3,021,550.48. This trade represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,064 shares of company stock worth $651,225 over the last ninety days. Company insiders own 8.40% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Day One Biopharmaceuticals by 73.9% in the 4th quarter. FMR LLC now owns 12,887,467 shares of the company’s stock valued at $163,284,000 after purchasing an additional 5,475,087 shares during the last quarter. Braidwell LP increased its holdings in Day One Biopharmaceuticals by 60.5% in the third quarter. Braidwell LP now owns 4,873,853 shares of the company’s stock valued at $67,893,000 after buying an additional 1,837,949 shares during the last quarter. Franklin Resources Inc. raised its stake in Day One Biopharmaceuticals by 0.3% in the fourth quarter. Franklin Resources Inc. now owns 3,882,952 shares of the company’s stock valued at $49,197,000 after buying an additional 13,320 shares in the last quarter. Estuary Capital Management LP increased its holdings in shares of Day One Biopharmaceuticals by 35.5% in the 4th quarter. Estuary Capital Management LP now owns 3,716,777 shares of the company’s stock valued at $47,092,000 after acquiring an additional 972,997 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in Day One Biopharmaceuticals by 17.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,490,064 shares of the company’s stock valued at $44,219,000 after purchasing an additional 507,398 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

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.