Day One Biopharmaceuticals (NASDAQ:DAWN) Trading Down 10.9%

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s stock price fell 10.9% during trading on Thursday . The company traded as low as $13.18 and last traded at $13.54. 1,255,054 shares were traded during mid-day trading, an increase of 62% from the average session volume of 776,140 shares. The stock had previously closed at $15.19.

Wall Street Analyst Weigh In

A number of research firms have commented on DAWN. Wedbush restated an “outperform” rating and issued a $33.00 price target on shares of Day One Biopharmaceuticals in a research report on Wednesday. Piper Sandler reiterated an “overweight” rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a research report on Tuesday, March 26th. Oppenheimer reiterated a “market perform” rating on shares of Day One Biopharmaceuticals in a research report on Tuesday, February 27th. The Goldman Sachs Group reduced their target price on shares of 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, HC Wainwright reiterated a “buy” rating and set a $50.00 target price on shares of Day One Biopharmaceuticals in a research report on Wednesday. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.33.

Day One Biopharmaceuticals Stock Performance

The business’s 50 day moving average price is $15.22 and its 200-day moving average price is $13.81.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its 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). Research analysts forecast that Day One Biopharmaceuticals, Inc. will post -2.67 earnings per share for the current year.

Insider Activity

In related news, insider Samuel C. Blackman sold 2,258 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.25, for a total transaction of $34,434.50. Following the sale, the insider now directly owns 1,244,662 shares in the company, valued at approximately $18,981,095.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Samuel C. Blackman sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $16.11, for a total value of $322,200.00. Following the transaction, the insider now owns 1,224,662 shares in the company, valued at approximately $19,729,304.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Samuel C. Blackman sold 2,258 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 1,244,662 shares in the company, valued at approximately $18,981,095.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,781 shares of company stock worth $883,160. Corporate insiders own 8.40% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Quest Partners LLC bought a new stake in shares of Day One Biopharmaceuticals in the 4th quarter worth $29,000. China Universal Asset Management Co. Ltd. grew its stake in shares of Day One Biopharmaceuticals by 130.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,226 shares of the company’s stock worth $27,000 after acquiring an additional 1,262 shares in the last quarter. Quintet Private Bank Europe S.A. grew its stake in shares of Day One Biopharmaceuticals by 43.2% in the 4th quarter. Quintet Private Bank Europe S.A. now owns 3,313 shares of the company’s stock worth $48,000 after acquiring an additional 1,000 shares in the last quarter. Amalgamated Bank grew its stake in shares of Day One Biopharmaceuticals by 35.7% in the 3rd quarter. Amalgamated Bank now owns 8,628 shares of the company’s stock worth $106,000 after acquiring an additional 2,268 shares in the last quarter. Finally, Exchange Traded Concepts LLC grew its stake in shares of Day One Biopharmaceuticals by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 10,072 shares of the company’s stock worth $147,000 after acquiring an additional 2,554 shares in the last quarter. 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.