Day One Biopharmaceuticals (NASDAQ:DAWN) Stock Price Up 5% – Here’s What Happened

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) shot up 5% during trading on Monday . The company traded as high as $7.03 and last traded at $7.18. 168,101 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 1,116,017 shares. The stock had previously closed at $6.84.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on DAWN shares. Needham & Company LLC reiterated a “buy” rating and set a $32.00 price target on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. JPMorgan Chase & Co. dropped their price target on shares of 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. HC Wainwright restated a “buy” rating and set a $36.00 price target on shares of Day One Biopharmaceuticals in a research note on Thursday, April 3rd. The Goldman Sachs Group lowered their price objective on Day One Biopharmaceuticals from $39.00 to $27.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $32.00 target price on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $32.29.

Day One Biopharmaceuticals Stock Performance

The company has a 50-day simple moving average of $8.62 and a 200-day simple moving average of $11.71. The stock has a market cap of $742.92 million, a P/E ratio of -7.12 and a beta of -1.24.

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

Insiders Place Their Bets

In related news, CEO Jeremy Bender sold 12,048 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total transaction of $144,094.08. Following the completion of the sale, the chief executive officer now directly owns 128,015 shares of the company’s stock, valued at $1,531,059.40. The trade was a 8.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 value of $55,566.16. Following the completion of the transaction, the general counsel now directly owns 39,602 shares in the company, valued at $473,639.92. The trade was a 10.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,064 shares of company stock valued at $251,925. 8.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of DAWN. GF Fund Management CO. LTD. bought a new stake in shares of Day One Biopharmaceuticals in the 4th quarter valued at $27,000. R Squared Ltd bought a new position in shares of Day One Biopharmaceuticals during the 4th quarter valued at about $31,000. Pallas Capital Advisors LLC acquired a new position in shares of Day One Biopharmaceuticals in the 1st quarter valued at approximately $87,000. Wealth Enhancement Advisory Services LLC bought a new stake in Day One Biopharmaceuticals during the 1st quarter worth approximately $88,000. Finally, Exchange Traded Concepts LLC raised its holdings in Day One Biopharmaceuticals by 19.6% during the 1st quarter. Exchange Traded Concepts LLC now owns 14,693 shares of the company’s stock worth $117,000 after buying an additional 2,407 shares during the period. 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.