Day One Biopharmaceuticals (NASDAQ:DAWN) Sets New 12-Month Low – Here’s Why

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) reached a new 52-week low on Tuesday . The company traded as low as $7.93 and last traded at $7.95, with a volume of 50747 shares. The stock had previously closed at $8.07.

Analysts Set New Price Targets

DAWN has been the subject of a number of research reports. Wedbush reiterated an “outperform” rating and issued a $32.00 price target on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. Needham & Company LLC reissued 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 lowered their price objective on Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their target price on shares of 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. Finally, Bank of America reduced their price objective 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. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $34.57.

Day One Biopharmaceuticals Price Performance

The firm has a market capitalization of $821.68 million, a price-to-earnings ratio of -7.87 and a beta of -1.38. The business’s fifty day simple moving average is $11.68 and its 200 day simple moving average is $13.15.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its earnings results on Tuesday, February 25th. The company reported ($0.69) 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 analyst estimates of $27.11 million. Equities research analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

Insider Activity at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, CEO Jeremy Bender sold 12,048 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 128,015 shares of the company’s stock, valued at approximately $1,531,059.40. This represents a 8.60 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Adam Dubow sold 4,646 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total transaction of $55,566.16. Following the transaction, the general counsel now directly owns 39,602 shares in the company, valued at approximately $473,639.92. This represents a 10.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,064 shares of company stock valued at $251,925. 8.40% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DAWN. FMR LLC grew its position in Day One Biopharmaceuticals by 73.9% during the fourth quarter. FMR LLC now owns 12,887,467 shares of the company’s stock valued at $163,284,000 after buying an additional 5,475,087 shares during the period. Braidwell LP increased its position in Day One Biopharmaceuticals by 60.5% in the third quarter. Braidwell LP now owns 4,873,853 shares of the company’s stock worth $67,893,000 after buying an additional 1,837,949 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of 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 during the period. Estuary Capital Management LP grew its stake in shares of Day One Biopharmaceuticals by 35.5% during the 4th quarter. Estuary Capital Management LP now owns 3,716,777 shares of the company’s stock worth $47,092,000 after acquiring an additional 972,997 shares during the period. Finally, Pictet Asset Management Holding SA raised its stake in Day One Biopharmaceuticals by 17.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,490,064 shares of the company’s stock valued at $44,219,000 after acquiring an additional 507,398 shares during the period. Hedge funds and other institutional investors 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.