Day One Biopharmaceuticals (NASDAQ:DAWN) Shares Gap Up – Time to Buy?

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $8.94, but opened at $10.83. Day One Biopharmaceuticals shares last traded at $10.79, with a volume of 1,907,004 shares.

Analysts Set New Price Targets

A number of analysts have recently issued reports on DAWN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a report on Monday, December 29th. Piper Sandler lifted their price target on Day One Biopharmaceuticals from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. HC Wainwright reiterated a “buy” rating and set a $25.00 price objective on shares of Day One Biopharmaceuticals in a research report on Monday, November 24th. Needham & Company LLC restated a “buy” rating and issued a $16.00 target price on shares of Day One Biopharmaceuticals in a research report on Monday, November 24th. Finally, JPMorgan Chase & Co. increased their price target on shares of Day One Biopharmaceuticals from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.33.

Day One Biopharmaceuticals Trading Up 26.1%

The business has a fifty day moving average of $8.94 and a 200-day moving average of $7.68. The company has a market cap of $1.16 billion, a PE ratio of -7.40 and a beta of -1.27.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.09. The company had revenue of $39.80 million during the quarter, compared to analyst estimates of $38.20 million. Day One Biopharmaceuticals had a negative return on equity of 32.05% and a negative net margin of 113.53%.The firm’s revenue was down 57.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 earnings per share. As a group, research analysts predict that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Insider Activity at Day One Biopharmaceuticals

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

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several large investors have recently modified their holdings of the stock. ProShare Advisors LLC increased its stake in Day One Biopharmaceuticals by 12.9% during the 2nd quarter. ProShare Advisors LLC now owns 18,545 shares of the company’s stock valued at $121,000 after purchasing an additional 2,121 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Day One Biopharmaceuticals by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,992 shares of the company’s stock valued at $302,000 after acquiring an additional 2,149 shares in the last quarter. Ameritas Investment Partners Inc. increased its position 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 valued at $48,000 after acquiring an additional 2,264 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in Day One Biopharmaceuticals by 18.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 17,721 shares of the company’s stock worth $115,000 after acquiring an additional 2,750 shares during the last quarter. Finally, Pale Fire Capital SE lifted its position in Day One Biopharmaceuticals by 9.9% in the 2nd quarter. Pale Fire Capital SE now owns 34,843 shares of the company’s stock valued at $226,000 after acquiring an additional 3,150 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Day One Biopharmaceuticals Company Profile

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.