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

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s stock price reached a new 52-week low during mid-day 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.

Analysts Set New Price Targets

A number of research firms have issued reports on DAWN. JPMorgan Chase & Co. reduced their price objective on Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday. Wedbush reaffirmed an “outperform” rating and issued a $32.00 price objective on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $32.00 price objective on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. HC Wainwright reduced their price objective 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, The Goldman Sachs Group reduced their price objective 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. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $34.57.

Day One Biopharmaceuticals Stock Performance

The stock has a fifty day moving average of $11.93 and a 200-day moving average of $13.27. The company has a market cap of $983.14 million, a PE ratio of -9.42 and a beta of -1.46.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings data 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 company had revenue of $29.21 million during the quarter, compared to the consensus estimate of $27.11 million. As a group, equities analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.

Insider Activity at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 30,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $13.31, for a total value of $399,300.00. Following the completion of the sale, the insider now directly owns 1,034,015 shares in the company, valued at approximately $13,762,739.65. This represents a 2.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Adam Dubow sold 4,646 shares of the company’s 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 of the company’s stock, valued at $473,639.92. This represents a 10.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,064 shares of company stock worth $651,225 in the last quarter. 8.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Several hedge funds have recently made changes to their positions in DAWN. GF Fund Management CO. LTD. purchased a new stake in shares of Day One Biopharmaceuticals during the 4th quarter worth $27,000. R Squared Ltd purchased a new stake in shares of Day One Biopharmaceuticals during the 4th quarter worth $31,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Day One Biopharmaceuticals by 38.4% during 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 during the last quarter. Quest Partners LLC lifted its stake in shares of Day One Biopharmaceuticals by 9,238.6% during the 3rd quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock worth $108,000 after purchasing an additional 7,668 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Day One Biopharmaceuticals by 911.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,657 shares of the company’s stock worth $135,000 after purchasing an additional 9,603 shares during the last quarter. 87.95% of the stock is currently 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.