Day One Biopharmaceuticals (NASDAQ:DAWN) Trading Down 10.1% – What’s Next?

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) fell 10.1% during mid-day trading on Tuesday . The company traded as low as $10.60 and last traded at $10.19. 2,964,974 shares traded hands during trading, an increase of 15% from the average session volume of 2,568,470 shares. The stock had previously closed at $11.33.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DAWN. TD Cowen assumed coverage on Day One Biopharmaceuticals in a report on Tuesday. They set a “buy” rating and a $34.00 price objective on the stock. Piper Sandler upped their target price on Day One Biopharmaceuticals from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 target price on shares of Day One Biopharmaceuticals in a research note on Monday, November 24th. Zacks Research upgraded shares of Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Day One Biopharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.71.

Day One Biopharmaceuticals Trading Down 6.5%

The company’s 50 day simple moving average is $9.02 and its 200-day simple moving average is $7.71. The firm has a market cap of $1.09 billion, a P/E ratio of -6.97 and a beta of -1.27.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.09. The firm had revenue of $39.80 million during the quarter, compared to analysts’ expectations of $38.20 million. Day One Biopharmaceuticals had a negative net margin of 113.53% and a negative return on equity of 32.05%. The firm’s quarterly revenue was down 57.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 earnings per share. On average, sell-side analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current year.

Insider Transactions at Day One Biopharmaceuticals

In other news, insider Adam Dubow sold 4,319 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $8.91, for a total value of $38,482.29. Following the transaction, the insider owned 62,626 shares in the company, valued at $557,997.66. This represents a 6.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Charles N. York II sold 4,062 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $8.91, for a total transaction of $36,192.42. Following the completion of the transaction, the chief financial officer directly owned 294,715 shares in the company, valued at approximately $2,625,910.65. The trade was a 1.36% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 28,001 shares of company stock valued at $249,489. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

A number of institutional investors have recently bought and sold shares of DAWN. Royal Bank of Canada lifted its position in Day One Biopharmaceuticals by 40.4% during the first quarter. Royal Bank of Canada now owns 185,733 shares of the company’s stock valued at $1,474,000 after purchasing an additional 53,459 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Day One Biopharmaceuticals by 601.4% in the 1st quarter. AQR Capital Management LLC now owns 618,627 shares of the company’s stock worth $4,906,000 after purchasing an additional 530,429 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Day One Biopharmaceuticals by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,992 shares of the company’s stock valued at $302,000 after acquiring an additional 2,149 shares in the last quarter. Millennium Management LLC lifted its position in shares of Day One Biopharmaceuticals by 587.2% in the first quarter. Millennium Management LLC now owns 1,320,095 shares of the company’s stock worth $10,468,000 after buying an additional 1,127,995 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Day One Biopharmaceuticals by 232.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,569,918 shares of the company’s stock valued at $12,449,000 after acquiring an additional 1,097,679 shares during the last quarter. 87.95% of the stock is owned by institutional investors.

About Day One Biopharmaceuticals

Day One Biopharmaceuticals, Inc (NASDAQ: DAWN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted therapies for oncology. The company employs a precision medicine approach, leveraging biomarker-driven strategies to identify patient populations most likely to respond to its investigational compounds. By concentrating on well-validated molecular drivers of cancer, Day One seeks to deliver first-in-class or best-in-class therapies with the potential for meaningful clinical benefit.

The company’s pipeline includes several small-molecule candidates in various stages of development.