Day One Biopharmaceuticals (NASDAQ:DAWN) Hits New 12-Month Low – What’s Next?

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on DAWN shares. Bank of America reduced their target price on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 price target on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. HC Wainwright reissued a “buy” rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. Finally, TD Cowen raised Day One Biopharmaceuticals to a “strong-buy” rating in a research note on Monday, November 4th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $35.86.

Day One Biopharmaceuticals Trading Down 3.4 %

The business has a fifty day moving average price of $13.49 and a 200-day moving average price of $13.97. The stock has a market capitalization of $1.19 billion, a PE ratio of -11.45 and a beta of -1.46.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate 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 quarter last year, the firm earned ($0.54) EPS. On average, equities analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.88 earnings per share for the current fiscal year.

Insider Activity at Day One Biopharmaceuticals

In other news, insider Samuel C. Blackman sold 10,000 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $16.10, for a total value of $161,000.00. Following the sale, the insider now directly owns 1,057,535 shares in the company, valued at approximately $17,026,313.50. This represents a 0.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders have sold 51,745 shares of company stock worth $748,567. Corporate insiders own 8.40% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

Several hedge funds have recently modified their holdings of DAWN. FMR LLC lifted its holdings in shares of Day One Biopharmaceuticals by 178.5% during the third quarter. FMR LLC now owns 7,412,380 shares of the company’s stock worth $103,254,000 after purchasing an additional 4,750,936 shares during the period. Braidwell LP raised its holdings in shares of Day One Biopharmaceuticals by 60.5% during the 3rd quarter. Braidwell LP now owns 4,873,853 shares of the company’s stock worth $67,893,000 after acquiring an additional 1,837,949 shares during the period. Franklin Resources Inc. boosted its holdings in Day One Biopharmaceuticals by 2.3% in the 3rd quarter. Franklin Resources Inc. now owns 3,869,632 shares of the company’s stock valued at $55,336,000 after purchasing an additional 87,262 shares during the last quarter. Deerfield Management Company L.P. Series C increased its position in shares of Day One Biopharmaceuticals by 65.6% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 2,923,137 shares of the company’s stock worth $40,281,000 after purchasing an additional 1,157,825 shares during the last quarter. Finally, Vestal Point Capital LP lifted its holdings in shares of Day One Biopharmaceuticals by 100.0% in the 3rd quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company’s stock worth $34,825,000 after acquiring an additional 1,250,000 shares during the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Day One Biopharmaceuticals Company Profile

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.