As of Tuesday, Day One Biopharmaceuticals Inc.’s (NASDAQ:DAWN) stock closed at $22.82, up from $21.89 the previous day. While Day One Biopharmaceuticals Inc. has overperformed by 4.25%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, DAWN rose by 42.89%, with highs and lows ranging from $28.35 to $5.44, whereas the simple moving average jumped by 32.04% in the last 200 days.
On December 15, 2022, H.C. Wainwright started tracking Day One Biopharmaceuticals Inc. (NASDAQ: DAWN) recommending Buy. A report published by Needham on December 14, 2022, Initiated its previous ‘Buy’ rating for DAWN. Goldman also rated DAWN shares as ‘Buy’, setting a target price of $45 on the company’s shares in an initiating report dated December 05, 2022. BofA Securities Initiated an Buy rating on December 01, 2022, and assigned a price target of $34.
Analysis of Day One Biopharmaceuticals Inc. (DAWN)
One of the most important indicators of Day One Biopharmaceuticals Inc.’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. The goal here is to ensure that your current return on equity of -38.30% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 20.80, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
For any stock, average volume can also provide valuable insight into volatility, and DAWN is recording 520.90K average volume. On a monthly basis, the volatility of the stock is set at 7.08%, whereas on a weekly basis, it is put at 8.52%, with a gain of 12.69% over the past seven days. Furthermore, long-term investors anticipate a median target price of $38.12, showing growth from the present price of $22.82, which can serve as yet another indication of whether DAWN is worth investing in or should be passed over.
How Do You Analyze Day One Biopharmaceuticals Inc. Shares?
Along with the fundamentals, it is also important to consider how many employees own shares of the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 14.90%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 82.90% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in DAWN shares?
The recent increase in stakes in DAWN appears to be a result of several institutional investors and hedge funds increasing their positions. Fidelity Management & Research Co made another increased to its shares in DAWN during the first quarter, upping its stake by 0.39%. During the last quarter, the company picked up 26,379 additional shares for a total stake of worth $144.72 million, bringing number of shares owned by the company to 6,816,620.
During the first quarter, Adage Capital Management LP added a 293,175 position in DAWN. The Vanguard Group, Inc. sold an additional 16203.0 shares in the last quarter, decreasing its holdings by -0.62%, now holding 2.59 million shares worth $54.97 million. At the end of the first quarter, Franklin Advisers, Inc. increased its DAWN holdings by 0.43% and now holds 2.46 million DAWN shares valued at $52.23 million with the added 10626.0 shares during the period. DAWN shares are owned by institutional investors to the tune of 82.90% at present.