Day One Biopharmaceuticals (NASDAQ:DAWN) Sets New 12-Month Low – Should You Sell?

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s share price hit a new 52-week low during trading on Friday . The company 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.

Analyst Ratings Changes

A number of research firms recently weighed in on DAWN. HC Wainwright reiterated a “buy” rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price target on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. TD Cowen upgraded shares of Day One Biopharmaceuticals to a “strong-buy” rating in a research report on Monday, November 4th. Finally, Bank of America decreased their target price on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday. One equities 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $35.86.

Day One Biopharmaceuticals Stock Performance

The business’s 50 day simple moving average is $13.49 and its 200-day simple moving average is $13.97. The company has a market cap of $1.19 billion, a price-to-earnings ratio of -11.45 and a beta of -1.46.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating 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 company earned ($0.54) earnings per share. 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 Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 11,245 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $16.03, for a total value of $180,257.35. Following the completion of the sale, the insider now owns 1,085,790 shares of the company’s stock, valued at approximately $17,405,213.70. This represents a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 51,745 shares of company stock worth $748,567. Insiders own 8.40% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

A number of hedge funds have recently made changes to their positions in the business. Renaissance Technologies LLC bought a new stake in Day One Biopharmaceuticals during the second quarter worth $994,000. Hsbc Holdings PLC acquired a new stake in shares of Day One Biopharmaceuticals during the second quarter worth $163,000. Ally Bridge Group NY LLC bought a new position in shares of Day One Biopharmaceuticals in the 2nd quarter worth about $7,387,000. Marshall Wace LLP lifted its position in shares of Day One Biopharmaceuticals by 20.1% during the 2nd quarter. Marshall Wace LLP now owns 161,129 shares of the company’s stock valued at $2,220,000 after acquiring an additional 26,958 shares during the period. Finally, Point72 DIFC Ltd acquired a new stake in Day One Biopharmaceuticals in the second quarter worth $124,000. 87.95% of the stock is owned by institutional investors and hedge funds.

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.