Day One Biopharmaceuticals (NASDAQ:DAWN) Hits New 12-Month High – Should You Buy?

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $21.46 and last traded at $21.4350, with a volume of 1218 shares. The stock had previously closed at $21.44.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wedbush reiterated a “neutral” rating and issued a $21.50 price objective (down from $30.00) on shares of Day One Biopharmaceuticals in a research report on Monday, March 9th. Oppenheimer restated a “market perform” rating on shares of Day One Biopharmaceuticals in a research report on Friday, March 6th. Zacks Research lowered shares of Day One Biopharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Needham & Company LLC downgraded Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. Finally, HC Wainwright reiterated a “neutral” rating and set a $21.50 price objective (down from $22.00) on shares of Day One Biopharmaceuticals in a research report on Tuesday, March 10th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Day One Biopharmaceuticals has an average rating of “Hold” and an average price target of $23.29.

Day One Biopharmaceuticals Trading Down 0.1%

The stock’s 50-day moving average is $15.03 and its 200-day moving average is $10.75. The stock has a market cap of $2.21 billion, a P/E ratio of -20.80 and a beta of -1.25.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its earnings results on Tuesday, February 24th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.04). Day One Biopharmaceuticals had a negative net margin of 67.85% and a negative return on equity of 23.43%. The company had revenue of $53.72 million for the quarter, compared to analyst estimates of $49.81 million. On average, equities analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Insider Buying and Selling at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, insider Adam Dubow sold 6,395 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total transaction of $74,182.00. Following the completion of the transaction, the insider directly owned 72,694 shares of the company’s stock, valued at approximately $843,250.40. This trade represents a 8.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jeremy Bender sold 15,459 shares of the 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 transaction, the chief executive officer directly owned 204,603 shares of the company’s stock, valued at approximately $2,373,394.80. The trade was a 7.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 36,461 shares of company stock valued at $422,948. 6.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Day One Biopharmaceuticals by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 6,282,376 shares of the company’s stock worth $58,552,000 after acquiring an additional 101,047 shares in the last quarter. Vestal Point Capital LP lifted its holdings in Day One Biopharmaceuticals by 94.4% in the 4th quarter. Vestal Point Capital LP now owns 5,200,000 shares of the company’s stock valued at $48,464,000 after acquiring an additional 2,525,000 shares during the last quarter. Deerfield Management Company L.P. boosted its position in shares of Day One Biopharmaceuticals by 26.4% during the 3rd quarter. Deerfield Management Company L.P. now owns 4,705,413 shares of the company’s stock valued at $33,173,000 after purchasing an additional 982,282 shares in the last quarter. State Street Corp grew its stake in shares of Day One Biopharmaceuticals by 32.4% in the 4th quarter. State Street Corp now owns 4,289,566 shares of the company’s stock worth $39,979,000 after purchasing an additional 1,049,122 shares during the last quarter. Finally, Rubric Capital Management LP acquired a new position in shares of Day One Biopharmaceuticals in the 3rd quarter worth approximately $23,808,000. Institutional investors own 87.95% of the company’s stock.

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.