Day One Biopharmaceuticals (NASDAQ:DAWN) Reaches New 12-Month Low - Here's Why

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report) shares 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 traded. The stock had previously closed at $9.06.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group cut their target price on Day One Biopharmaceuticals from $48.00 to $43.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Wedbush reiterated an "outperform" rating and issued a $32.00 price objective on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their target price on shares of Day One Biopharmaceuticals from $39.00 to $34.00 and set an "overweight" rating for the company in a research report on Wednesday. Bank of America dropped their price target on shares of 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. Finally, HC Wainwright reduced their price objective on Day One Biopharmaceuticals from $40.00 to $36.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $34.57.

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Day One Biopharmaceuticals Price Performance

The firm has a market capitalization of $878.75 million, a P/E ratio of -8.42 and a beta of -1.38. The firm's fifty day moving average price is $11.85 and its 200-day moving average price is $13.24.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.34). The business had revenue of $29.21 million during the quarter, compared to analysts' expectations of $27.11 million. Analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current year.

Insiders Place Their Bets

In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 30,000 shares of the firm's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $13.31, for a total transaction of $399,300.00. Following the completion of the sale, the insider now directly owns 1,034,015 shares in the company, valued at approximately $13,762,739.65. This trade represents a 2.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Adam Dubow sold 4,646 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $55,566.16. Following the completion of the transaction, the general counsel now owns 39,602 shares in the company, valued at $473,639.92. This represents a 10.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,064 shares of company stock worth $651,225. Company insiders own 8.40% of the company's stock.

Institutional Investors Weigh In On Day One Biopharmaceuticals

A number of institutional investors have recently modified their holdings of the stock. FMR LLC raised its holdings in shares of Day One Biopharmaceuticals by 73.9% during the fourth quarter. FMR LLC now owns 12,887,467 shares of the company's stock worth $163,284,000 after acquiring an additional 5,475,087 shares in the last quarter. Braidwell LP increased its position in Day One Biopharmaceuticals by 60.5% in the 3rd quarter. Braidwell LP now owns 4,873,853 shares of the company's stock worth $67,893,000 after purchasing an additional 1,837,949 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Day One Biopharmaceuticals by 0.3% during the 4th quarter. Franklin Resources Inc. now owns 3,882,952 shares of the company's stock worth $49,197,000 after purchasing an additional 13,320 shares in the last quarter. Estuary Capital Management LP lifted its holdings in shares of Day One Biopharmaceuticals by 35.5% during the 4th quarter. Estuary Capital Management LP now owns 3,716,777 shares of the company's stock valued at $47,092,000 after buying an additional 972,997 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its stake in shares of Day One Biopharmaceuticals by 17.0% in the 4th quarter. Pictet Asset Management Holding SA now owns 3,490,064 shares of the company's stock valued at $44,219,000 after buying an additional 507,398 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company's stock.

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.