Day One Biopharmaceuticals (NASDAQ:DAWN) Stock Price Down 1.7% – What’s Next?

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

Analysts Set New Price Targets

A number of brokerages have recently commented on DAWN. JPMorgan Chase & Co. dropped their price target 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. The Goldman Sachs Group cut their target price on Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. HC Wainwright reduced their price objective on shares of Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Bank of America reduced their target price on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, Wedbush reaffirmed an “outperform” rating and set a $32.00 price target on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $34.57.

Day One Biopharmaceuticals Stock Performance

The stock has a market capitalization of $823.00 million, a P/E ratio of -7.88 and a beta of -1.38. The firm has a fifty day moving average price of $11.35 and a two-hundred day moving average price of $13.00.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted 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 during the quarter, compared to the consensus estimate of $27.11 million. On average, research analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Adam Dubow sold 4,646 shares of the business’s stock in a transaction on 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 owns 39,602 shares of the company’s stock, valued at $473,639.92. The trade was a 10.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeremy Bender sold 12,048 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total value of $144,094.08. Following the completion of the transaction, the chief executive officer now directly owns 128,015 shares in the company, valued at approximately $1,531,059.40. This represents a 8.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,064 shares of company stock valued at $251,925. 8.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Virtus ETF Advisers LLC raised its stake in Day One Biopharmaceuticals by 7.1% during the 4th quarter. Virtus ETF Advisers LLC now owns 27,296 shares of the company’s stock worth $346,000 after acquiring an additional 1,805 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Day One Biopharmaceuticals by 5.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,843 shares of the company’s stock valued at $454,000 after purchasing an additional 1,894 shares during the period. GF Fund Management CO. LTD. purchased a new position in shares of Day One Biopharmaceuticals during the 4th quarter valued at $27,000. China Universal Asset Management Co. Ltd. boosted its holdings in Day One Biopharmaceuticals by 11.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 21,383 shares of the company’s stock worth $271,000 after buying an additional 2,180 shares during the period. Finally, R Squared Ltd purchased a new stake in Day One Biopharmaceuticals in the 4th quarter worth $31,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

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.