Day One Biopharmaceuticals Inc. (DAWN) looking to reclaim success with recent performance

Day One Biopharmaceuticals Inc. (NASDAQ: DAWN) stock fell -7.01% on Friday to $18.30 against a previous-day closing price of $19.68. With 1.38 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.72 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $19.64 whereas the lowest price it dropped to was $18.29. The 52-week range on DAWN shows that it touched its highest point at $28.35 and its lowest point at $5.44 during that stretch. It currently has a 1-year price target of $36.75.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of DAWN was down-trending over the past week, with a drop of -21.53%, but this was down by -23.81% over a month. Three-month performance surged to 14.30% while six-month performance rose 87.89%. The stock lost -16.86% in the past year, while it has gained 8.61% so far this year. A look at the trailing 12-month EPS for DAWN yields -1.76 with Next year EPS estimates of -2.19. For the next quarter, that number is -0.53. This implies an EPS growth rate of -587.70% for this year and -0.90% for next year.

Float and Shares Shorts:

At present, 60.76 million DAWN shares are outstanding with a float of 51.67 million shares on hand for trading. On Jul 14, 2022, short shares totaled 7.81 million, which was 10.86% higher than short shares on Jun 14, 2022. In addition to Ms. Julie Papanek Grant M.B.A. as the firm’s Co-Founder & Chair of the Board, Dr. Jeremy Bender M.B.A., Ph.D. serves as its CEO, Pres & Director.

Institutional Ownership:

Through their ownership of 80.73% of DAWN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 40.28% of DAWN, in contrast to 30.63% held by mutual funds. Shares owned by individuals account for 22.98%. As the largest shareholder in DAWN with 9.58% of the stake, RA Capital Management LP holds 7,040,622 shares worth 7,040,622. A second-largest stockholder of DAWN, Fidelity Management & Research Co, holds 6,790,241 shares, controlling over 9.24% of the firm’s shares. Deerfield Management Co. LP is the third largest shareholder in DAWN, holding 3,512,123 shares or 4.78% stake. With a 3.11% stake in DAWN, the Fidelity Select Port. – Biotechno is the largest stakeholder. A total of 2,281,509 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 1.73% of DAWN stock, is the second-largest Mutual Fund holder. It holds 1,269,958 shares valued at 29.83 million. T Rowe Price New Horizons Fund holds 1.49% of the stake in DAWN, owning 1,092,720 shares worth 25.67 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for DAWN since 5 analysts follow the stock currently. There are 5 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With DAWN analysts setting a high price target of $40.00 and a low target of $32.00, the average target price over the next 12 months is $36.75. Based on these targets, DAWN could surge 118.58% to reach the target high and rise by 74.86% to reach the target low. Reaching the average price target will result in a growth of 100.82% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. DAWN will report FY 2022 earnings on 03/06/2023. Analysts have provided yearly estimates in a range of -$2.01 being high and -$2.24 being low. For DAWN, this leads to a yearly average estimate of -$2.11. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Day One Biopharmaceuticals Inc. surprised analysts by -$0.11 when it reported -$0.60 EPS against a consensus estimate of -$0.49. The surprise factor in the prior quarter was -$0.10. Based on analyst estimates, the high estimate for the next quarter is -$0.45 and the low estimate is -$0.57. The average estimate for the next quarter is thus -$0.52.

Summary of Insider Activity:

Insiders traded DAWN stock several times over the past three months with 3 Buys and 26 Sells. In these transactions, 18,372 shares were bought while 277,448 shares were sold. The number of buy transactions has increased to 12 while that of sell transactions has risen to 42 over the past year. The total number of shares bought during that period was 4,380,792 while 4,093,068 shares were sold.

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