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Day One Biopharmaceuticals Inc. (NASDAQ: DAWN) Jumped 15.60%, But Don’t Be Too Excited

Day One Biopharmaceuticals Inc. (NASDAQ:DAWN) shares, rose in value on Friday, 08/05/22, with the stock price up by 15.60% to the previous day’s close as strong demand from buyers drove the stock to $23.64.

Actively observing the price movement in the last trading, the stock closed the session at $20.45, falling within a range of $19.38 and $23.70. Referring to stock’s 52-week performance, its high was $28.70, and the low was $5.44. On the whole, DAWN has fluctuated by 21.67% over the past month.

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As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.49, which is expected to increase to -$0.45 for fiscal year -$2 and then to about -$2.11 by fiscal year 2023. Data indicates that the EPS growth is expected to be 56.70% in 2023, while the next year’s EPS growth is forecast to be -5.50%.

Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that DAWN’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 50% Buy.

4 analyst(s) have assigned their ratings of the stock’s forecast evaluation on a scale of 1.00-5.00 to indicate a strong buy to a strong sell recommendation. The stock is rated as a Hold by 0 analyst(s), 4 recommend it as a Buy and 0 called the DAWN stock Overweight. In the meantime, 0 analyst(s) believe the stock as Underweight and 0 think it is a Sell. Thus, investors eager to increase their holdings of the company’s stock will have an opportunity to do so as the average rating for the stock is Buy.

The stock’s technical analysis shows that the PEG ratio is about 0, with the price of DAWN currently trading nearly 28.12% and 58.15% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 74.16, while the 7-day volatility ratio is showing 11.76% which for the 30-day chart, stands at 7.58%. Furthermore, Day One Biopharmaceuticals Inc. (DAWN)’s average true range (ATR) is 1.49. The company’s stock has been forecasted to trade at an average price of $35.33 over the course of the next 52 weeks, with a low of $31.00 and a high of $40.00. Based on these price targets, the low is -31.13% off current price, whereas the price has to move -69.2% to reach the yearly target high. Additionally, analysts’ median price of $35.00 is likely to be welcomed by investors because it represents a decrease of -48.05% from the current levels.

A comparison of Day One Biopharmaceuticals Inc. (DAWN) with its peers suggests the former has fared considerably weaker in the market. DAWN showed an intraday change of 15.60% in last session, and over the past year, it shrunk by -7.33%%. In comparison, Pfizer Inc. (PFE) has moved lower at -1.18% on the day and was up 9.34% over the past 12 months. Additionally, there is a gain of 1.09% for Rogers Corporation (ROG) in last trading while the stock has seen an overall depriciation of 39.65%% over the past year. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.16%. Meanwhile, the Dow Jones Industrial Improved by 0.23%.

Data on historical trading for Day One Biopharmaceuticals Inc. (NASDAQ:DAWN) indicates that the trading volumes over the past 10 days have averaged 0.35 million and over the past 3 months, they’ve averaged 1.67 million. According to company’s latest data on outstanding shares, there are 58.38 million shares outstanding.

Nearly 6.20% of Day One Biopharmaceuticals Inc.’s shares belong to company insiders and institutional investors own 61.70% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 7.81 million shares as on Jul 14, 2022, resulting in a short ratio of 5.8. According to the data, the short interest in Day One Biopharmaceuticals Inc. (DAWN) stood at 10.86% of shares outstanding as of Jul 14, 2022; the number of short shares registered in Jun 14, 2022 reached 7.18 million. The stock has risen by 40.30% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the DAWN stock heading into the next quarter.

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