Day One Biopharmaceuticals Inc. (DAWN) Outlook Starting To Look Brighter?

Franklin Advisers, Inc. has recently announced that it has increased stake in Day One Biopharmaceuticals Inc. (NASDAQ:DAWN) by 37.83%. After grabbing 3.39 million shares, the institutional investor is now in possession of 0.93 million shares of the Healthcare Company. The new investment brought the stake of investor firm to 4.60% having worth around $41.98 million. Moreover, Braidwell LP increased its share by 1.91 million to have a control over 3.16 million shares. And The Vanguard Group, Inc. raised its holdings to 22847.0 shares by acquiring 3.11 million shares or 4.22% of the stake.

Day One Biopharmaceuticals Inc. (DAWN) concluded trading on 05/25/23 at a closing price of $12.06, with 1.12 million shares of worth about $13.53 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -44.37% during that period and on Thursday the price saw a loss of about -2.66%. Currently the company’s common shares owned by public are about 71.97M shares, out of which, 51.85M shares are available for trading.

A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 11 analysts are covering the DAWN stock and their offered price forecasts bring an average price target of $39.56. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $63.00 and could fall to a lowest price of $9.00. The stock’s current price level is 69.51% above of average price target set by the analysts, while a rise to estimated low would result in loss of -34.0% for the stock. However, touching the estimated high of $63.00 would mean a gain of 80.86% for the stock.

According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 115 times over the past 12 months. They bought 2,772,391 shares in 15 of the transactions. In 100 selling transactions, insiders dumped 4,934,883 shares.

FTIF SICAV – Biotechnology Discov, SPDR S&P Biotech ETF, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in Day One Biopharmaceuticals Inc. FTIF SICAV – Biotechnology Discov is currently holding 1.65 million shares of worth totaling $20.51 million. The company recently came buying 0.56 million shares which brought its stake up to 2.25% of the company’s outstanding shares. SPDR S&P Biotech ETF bought 28875.0 shares, after which its hold over company’s outstanding shares expand to 2.24%, leaving 1.65 million shares with the mutual fund that have a worth of about $20.45 million. Vanguard Total Stock Market ETF, after buying 1.48 million shares, have now control over 2.01% of the stake in the company. It holds 0.0 shares of worth $18.37 million.

Day One Biopharmaceuticals Inc. (NASDAQ: DAWN) started trading at $12.51, above $0.12 from concluding price of the previous day. However, the stock later moved at a day high price of 12.55, or with a loss of -2.66%. Stock saw a price change of -7.80% in past 5 days and over the past one month there was a price change of -5.04%. Year-to-date (YTD), DAWN shares are showing a performance of -43.96% which increased to 65.66% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $5.44 but also hit the highest price of $28.35 during that period. The average intraday trading volume for Day One Biopharmaceuticals Inc. shares is 842.42K. The stock is currently trading -9.66% below its 20-day simple moving average (SMA20), while that difference is down -12.57% for SMA50 and it goes to -37.41% lower than SMA200.

Franklin Advisers, Inc. acquired 3.39 million shares of Day One Biopharmaceuticals Inc. having value of about $41.98 million. Data submitted at the U.S SEC by Franklin Advisers, Inc. revealed that the firm now holds 0.93 million shares in the company valued at close to $11207623.32, or have control over 37.83% stake in the company. Day One Biopharmaceuticals Inc. (NASDAQ: DAWN) currently have 71.97M outstanding shares and institutions hold larger chunk of about 82.90% of that. Holding of mutual funds in the company is about 32.42% while other institutional holders and individual stake holders have control over 36.17% and 31.44% of the stake respectively.

The stock has a current market capitalization of $868.68M. It has posted earnings per share of -$2.29 in the same period. It has Quick Ratio of 14.10 while making debt-to-equity ratio of 0.00. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for DAWN, volatility over the week remained 6.35% while standing at 6.63% over the month.

Analysts are in expectations that Day One Biopharmaceuticals Inc. (DAWN) stock would likely to be making an EPS of -$0.62 in the current quarter, while forecast for next quarter EPS is -$0.62 and it is -$2.05 for next year. For the current quarter EPS, analysts have given the company a lowest target -$0.66 which is -$0.57 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.6 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 53.00% while it is estimated to increase by 17.30% in next year.

Analysts at 11 brokerage firms have issued recommendations for the Day One Biopharmaceuticals Inc. (DAWN)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.20. Out of those 11 Wall Street analysts, 8 recommended a “Buy” rating, while 1 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.