10 Biggest Stocks with Negative Beta to Consider

5. Day One Biopharmaceuticals (NASDAQ:DAWN) 

Number of Hedge Fund Investors: 34  

Beta: -1.51  

Market Cap as of October 13: $1.36 Billion  

Day One Biopharmaceuticals (NASDAQ:DAWN) is a biopharmaceutical company focused on developing targeted therapies for patients with genomically defined cancers.

Day One Biopharmaceuticals (NASDAQ:DAWN) has been making waves in the oncology space with its lead drug candidate, Tovorafenib, now branded as Ojemda. Ojemda is a treatment for pediatric low-grade glioma (pLGG), a type of brain or spinal cord tumor that affects children.

In April, Ojemda was approved by the FDA for the treatment of pLGG. The FDA’s approval of Ojemda marked a major milestone in the treatment of pLGG, a condition that has long been in need of effective and targeted therapies. Ojemda has shown significant promise in clinical trials, demonstrating its ability to effectively manage the symptoms of pLGG and improve the quality of life for affected children.

In July, Bank of America (BofA) gave Day One Biopharmaceuticals (NASDAQ:DAWN) a double upgrade, citing the immense potential of Ojemda. This upgrade came on the heels of the FDA’s approval of Ojemda. The upgrade is a testament to the significant progress that the company has made in developing Ojemda and not only validates the company’s research and development efforts but also opens up a new revenue stream for the company.

Day One Biopharmaceuticals (NASDAQ:DAWN) presents an attractive investment opportunity for those looking to capitalize on the company’s potential for growth and success.