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

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $11.78 and last traded at $12.20, with a volume of 83218 shares changing hands. The stock had previously closed at $12.20.

Analysts Set New Price Targets

DAWN has been the topic of several research analyst reports. TD Cowen upgraded Day One Biopharmaceuticals to a “strong-buy” rating in a research note on Monday, November 4th. Bank of America dropped their price objective on 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. HC Wainwright reiterated a “buy” rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $33.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Day One Biopharmaceuticals presently has an average rating of “Buy” and an average target price of $35.86.

Day One Biopharmaceuticals Stock Down 3.3 %

The stock has a market cap of $1.19 billion, a PE ratio of -11.46 and a beta of -1.46. The firm has a 50-day simple moving average of $13.44 and a 200-day simple moving average of $13.97.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.58. The company had revenue of $93.76 million during the quarter, compared to the consensus estimate of $15.05 million. During the same period last year, the firm posted ($0.54) EPS. On average, research analysts expect that Day One Biopharmaceuticals, Inc. will post -0.88 earnings per share for the current year.

Insider Transactions at Day One Biopharmaceuticals

In other news, insider Samuel C. Blackman sold 11,245 shares of Day One Biopharmaceuticals stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $16.03, for a total transaction of $180,257.35. Following the transaction, the insider now owns 1,085,790 shares in the company, valued at $17,405,213.70. This trade represents a 1.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold 51,745 shares of company stock worth $748,567 in the last 90 days. 8.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. boosted 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 acquiring an additional 1,002 shares during the last quarter. SteelPeak Wealth LLC lifted its stake in shares of Day One Biopharmaceuticals by 9.8% during the 3rd quarter. SteelPeak Wealth LLC now owns 17,400 shares of the company’s stock valued at $242,000 after buying an additional 1,550 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Day One Biopharmaceuticals by 16.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 27,000 shares of the company’s stock valued at $376,000 after buying an additional 3,900 shares in the last quarter. Martingale Asset Management L P lifted its stake in shares of Day One Biopharmaceuticals by 9.6% during the 3rd quarter. Martingale Asset Management L P now owns 71,304 shares of the company’s stock valued at $993,000 after buying an additional 6,219 shares in the last quarter. Finally, Verition Fund Management LLC lifted its stake in shares of Day One Biopharmaceuticals by 31.4% during the 3rd quarter. Verition Fund Management LLC now owns 31,075 shares of the company’s stock valued at $433,000 after buying an additional 7,422 shares in the last quarter. 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.