Day One Biopharmaceuticals (NASDAQ:DAWN) Stock Price Down 1.7% – Time to Sell?

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

Analyst Ratings Changes

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

Day One Biopharmaceuticals Stock Performance

The company has a market cap of $823.00 million, a P/E ratio of -7.88 and a beta of -1.38. The business has a 50 day moving average price of $11.35 and a two-hundred day moving average price of $13.00.

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

Insiders Place Their Bets

In other news, General Counsel Adam Dubow sold 4,646 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total transaction of $55,566.16. Following the completion of the sale, the general counsel now directly owns 39,602 shares in the company, valued at approximately $473,639.92. This represents 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 business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $144,094.08. Following the transaction, the chief executive officer now owns 128,015 shares in the company, valued at approximately $1,531,059.40. This represents 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 in the last quarter. Insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in DAWN. GF Fund Management CO. LTD. purchased a new position in Day One Biopharmaceuticals during the 4th quarter valued at $27,000. R Squared Ltd purchased a new position in shares of Day One Biopharmaceuticals during the fourth quarter valued at about $31,000. Quest Partners LLC raised its stake in Day One Biopharmaceuticals by 9,238.6% in 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 raised its stake in Day One Biopharmaceuticals by 911.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,657 shares of the company’s stock worth $135,000 after buying an additional 9,603 shares in the last quarter. Finally, E Fund Management Co. Ltd. purchased a new stake in Day One Biopharmaceuticals in the fourth quarter worth about $143,000. Institutional investors own 87.95% of the company’s stock.

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.