Day One Biopharmaceuticals (NASDAQ:DAWN) Stock Price Up 7.6% – Time to Buy?

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s share price rose 7.6% on Tuesday . The stock traded as high as $11.04 and last traded at $10.9290. Approximately 485,824 shares changed hands during trading, a decline of 81% from the average daily volume of 2,616,103 shares. The stock had previously closed at $10.16.

Analysts Set New Price Targets

Several brokerages have recently commented on DAWN. HC Wainwright reissued a “buy” rating and issued a $25.00 target price on shares of Day One Biopharmaceuticals in a report on Monday, November 24th. Zacks Research upgraded Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Weiss Ratings restated a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a report on Monday, December 29th. JPMorgan Chase & Co. lifted their price target on Day One Biopharmaceuticals from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, TD Cowen started coverage on shares of Day One Biopharmaceuticals in a research report on Tuesday, January 13th. They set a “buy” rating and a $34.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.71.

Day One Biopharmaceuticals Price Performance

The firm has a 50 day moving average price of $9.16 and a 200-day moving average price of $7.85. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of -7.93 and a beta of -1.27.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.09. The company had revenue of $39.80 million during the quarter, compared to analysts’ expectations of $38.20 million. Day One Biopharmaceuticals had a negative net margin of 113.53% and a negative return on equity of 32.05%. Day One Biopharmaceuticals’s revenue was down 57.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 EPS. On average, sell-side analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jeremy Bender sold 15,894 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $8.91, for a total transaction of $141,615.54. Following the transaction, the chief executive officer owned 177,165 shares of the company’s stock, valued at $1,578,540.15. This trade represents a 8.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Adam Dubow sold 4,319 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $8.91, for a total transaction of $38,482.29. Following the completion of the sale, the insider owned 62,626 shares in the company, valued at approximately $557,997.66. This trade represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 28,001 shares of company stock worth $249,489 in the last ninety days. 6.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Day One Biopharmaceuticals

A number of large investors have recently made changes to their positions in the company. Federated Hermes Inc. acquired a new position in shares of Day One Biopharmaceuticals in the 3rd quarter valued at approximately $39,000. Ameritas Investment Partners Inc. raised its holdings in shares of Day One Biopharmaceuticals by 44.5% during the second quarter. Ameritas Investment Partners Inc. now owns 7,349 shares of the company’s stock worth $48,000 after acquiring an additional 2,264 shares during the period. Quarry LP bought a new stake in Day One Biopharmaceuticals in the 3rd quarter valued at $49,000. Entropy Technologies LP acquired a new position in Day One Biopharmaceuticals in the 2nd quarter worth $67,000. Finally, Prudential Financial Inc. bought a new position in Day One Biopharmaceuticals during the 2nd quarter worth about $69,000. 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.