Day One Biopharmaceuticals (NASDAQ:DAWN) Shares Down 4.7%

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) shares were down 4.7% on Friday . The company traded as low as $14.73 and last traded at $15.01. Approximately 384,877 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 631,468 shares. The stock had previously closed at $15.75.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DAWN. Oppenheimer restated a “market perform” rating on shares of Day One Biopharmaceuticals in a research note on Tuesday, February 27th. The Goldman Sachs Group decreased their target price on Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $40.00 price target on shares of Day One Biopharmaceuticals in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.60.

Day One Biopharmaceuticals Trading Down 5.7 %

The company has a 50-day simple moving average of $15.24 and a 200 day simple moving average of $13.68. The company has a market cap of $1.30 billion, a P/E ratio of -6.62 and a beta of -1.48.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings results on Monday, February 26th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.07). On average, equities analysts forecast that Day One Biopharmaceuticals, Inc. will post -2.66 EPS for the current fiscal year.

Insider Activity

In related news, insider Samuel C. Blackman sold 2,258 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.25, for a total transaction of $34,434.50. Following the completion of the sale, the insider now directly owns 1,244,662 shares in the company, valued at approximately $18,981,095.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, General Counsel Adam Dubow sold 3,242 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.25, for a total transaction of $49,440.50. Following the transaction, the general counsel now directly owns 16,585 shares of the company’s stock, valued at approximately $252,921.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Samuel C. Blackman sold 2,258 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.25, for a total value of $34,434.50. Following the completion of the sale, the insider now directly owns 1,244,662 shares of the company’s stock, valued at approximately $18,981,095.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 45,781 shares of company stock worth $722,960. 8.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Large investors have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. boosted its position in Day One Biopharmaceuticals by 2.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 59,289 shares of the company’s stock valued at $979,000 after buying an additional 1,445 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Day One Biopharmaceuticals by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 4,769,746 shares of the company’s stock valued at $69,638,000 after purchasing an additional 139,992 shares during the last quarter. Fisher Asset Management LLC boosted its holdings in Day One Biopharmaceuticals by 89.0% in the fourth quarter. Fisher Asset Management LLC now owns 68,446 shares of the company’s stock valued at $999,000 after purchasing an additional 32,238 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Day One Biopharmaceuticals by 77.7% during the 4th quarter. Wellington Management Group LLP now owns 208,969 shares of the company’s stock valued at $3,051,000 after buying an additional 91,393 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Day One Biopharmaceuticals by 28.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,118,849 shares of the company’s stock valued at $30,935,000 after buying an additional 472,654 shares during the period. 87.95% of the stock is owned by hedge funds and other institutional investors.

About Day One Biopharmaceuticals

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.