Day One Biopharmaceuticals (NASDAQ:DAWN) Trading Down 1.7% – Here’s Why

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) dropped 1.7% during trading on Friday . The company traded as low as $8.53 and last traded at $8.55. Approximately 116,945 shares traded hands during trading, a decline of 89% from the average daily volume of 1,073,353 shares. The stock had previously closed at $8.70.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. HC Wainwright lowered their target price on Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. dropped their price objective on shares of Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Bank of America cut their target price on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group lowered their price target on shares of Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating on the stock in a report on Monday, February 10th. Finally, Wedbush reiterated an “outperform” rating and set a $32.00 price objective on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $34.57.

Day One Biopharmaceuticals Price Performance

The stock has a market capitalization of $824.52 million, a P/E ratio of -7.92 and a beta of -1.38. The stock’s fifty day moving average is $11.44 and its 200-day moving average is $13.06.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings results on Tuesday, February 25th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.34). The firm had revenue of $29.21 million during the quarter, compared to the consensus estimate of $27.11 million. On average, research analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Insider Activity

In other news, General Counsel Adam Dubow sold 4,646 shares of Day One Biopharmaceuticals stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total value of $55,566.16. Following the transaction, the general counsel now directly owns 39,602 shares in the company, valued at approximately $473,639.92. The trade was a 10.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jeremy Bender sold 12,048 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $144,094.08. Following the sale, the chief executive officer now owns 128,015 shares of the company’s stock, valued at approximately $1,531,059.40. The trade was a 8.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,064 shares of company stock valued at $251,925 over the last 90 days. 8.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Day One Biopharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of DAWN. GF Fund Management CO. LTD. bought a new stake in Day One Biopharmaceuticals in the 4th quarter valued at $27,000. R Squared Ltd bought a new stake in shares of Day One Biopharmaceuticals in the fourth quarter valued at about $31,000. Quest Partners LLC grew its position in Day One Biopharmaceuticals by 9,238.6% during the third quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock worth $108,000 after buying an additional 7,668 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Day One Biopharmaceuticals by 911.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,657 shares of the company’s stock valued at $135,000 after acquiring an additional 9,603 shares during the period. Finally, E Fund Management Co. Ltd. acquired a new position in Day One Biopharmaceuticals in the 4th quarter valued at approximately $143,000. Institutional investors own 87.95% of the company’s stock.

Day One Biopharmaceuticals Company Profile

Day One Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops and commercializes targeted therapies for patients with genomically defined cancers. Its lead product candidate is tovorafenib, an oral brain-penetrant type II pan-rapidly accelerated fibrosarcoma kinase inhibitor that is in Phase II clinical trial for pediatric patients with relapsed/ refractory low-grade glioma.