Day One Biopharmaceuticals (NASDAQ:DAWN) Hits New 52-Week Low – Should You Sell?

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s share price hit a new 52-week low during trading on Tuesday . The company traded as low as $8.24 and last traded at $8.25, with a volume of 2813185 shares changing hands. The stock had previously closed at $9.06.

Analysts Set New Price Targets

Several research firms recently commented on DAWN. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 price target on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. The Goldman Sachs Group reduced their target price on shares of Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating for the company in a report on Monday, February 10th. Wedbush reissued an “outperform” rating and set a $32.00 price target on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. TD Cowen raised Day One Biopharmaceuticals to a “strong-buy” rating in a research note on Monday, November 4th. Finally, Bank of America lowered their target price 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. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $34.86.

Day One Biopharmaceuticals Price Performance

The stock’s 50-day moving average is $12.07 and its 200 day moving average is $13.33. The stock has a market cap of $836.18 million, a price-to-earnings ratio of -8.01 and a beta of -1.46.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings results on Tuesday, February 25th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.34). The firm had revenue of $29.21 million during the quarter, compared to analyst estimates of $27.11 million. Analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Insiders Place Their Bets

In related news, insider Samuel C. Blackman sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $13.31, for a total value of $399,300.00. Following the completion of the sale, the insider now owns 1,034,015 shares in the company, valued at $13,762,739.65. This trade represents a 2.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Charles N. York II sold 4,370 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total transaction of $52,265.20. Following the transaction, the chief financial officer now owns 252,638 shares in the company, valued at $3,021,550.48. The trade was a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,064 shares of company stock worth $651,225. Corporate insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several hedge funds have recently bought and sold shares of the company. GF Fund Management CO. LTD. acquired a new stake in Day One Biopharmaceuticals in the fourth quarter valued at $27,000. R Squared Ltd purchased a new stake in shares of Day One Biopharmaceuticals in the 4th quarter worth about $31,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Day One Biopharmaceuticals by 38.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,611 shares of the company’s stock valued at $51,000 after acquiring an additional 1,002 shares during the last quarter. Quest Partners LLC increased its holdings in Day One Biopharmaceuticals by 9,238.6% during the 3rd quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock valued at $108,000 after acquiring an additional 7,668 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Day One Biopharmaceuticals by 911.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,657 shares of the company’s stock worth $135,000 after acquiring an additional 9,603 shares during the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

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.