Day One Biopharmaceuticals (NASDAQ:DAWN) Shares Down 1.7% – Here’s What Happened

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group decreased their price objective on Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating on the stock in a report on Monday, February 10th. HC Wainwright decreased their price target on Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. JPMorgan Chase & Co. dropped their price objective on Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Bank of America cut their price objective 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 issued a $32.00 target price 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, Day One Biopharmaceuticals presently has an average rating of “Buy” and an average target price of $34.57.

Day One Biopharmaceuticals Stock Down 6.5 %

The stock has a fifty day moving average of $11.44 and a 200-day moving average of $13.06. The firm has a market capitalization of $824.52 million, a P/E ratio of -7.92 and a beta of -1.38.

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, analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jeremy Bender sold 12,048 shares of Day One Biopharmaceuticals 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 owns 128,015 shares in the company, valued at $1,531,059.40. The trade was a 8.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Adam Dubow sold 4,646 shares of the firm’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 $55,566.16. Following the completion of the transaction, the general counsel now directly owns 39,602 shares in the company, valued at approximately $473,639.92. The trade was a 10.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,064 shares of company stock worth $251,925 in the last quarter. Insiders own 8.40% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in DAWN. GSA Capital Partners LLP acquired a new stake in shares of Day One Biopharmaceuticals during the third quarter worth $825,000. Quest Partners LLC increased its stake in shares of Day One Biopharmaceuticals by 9,238.6% in the 3rd quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock valued at $108,000 after acquiring an additional 7,668 shares during the last quarter. First Turn Management LLC bought a new stake in shares of Day One Biopharmaceuticals in the 3rd quarter valued at about $13,204,000. Intech Investment Management LLC bought a new position in Day One Biopharmaceuticals during the 3rd quarter worth approximately $324,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Day One Biopharmaceuticals by 14.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 507,448 shares of the company’s stock valued at $7,069,000 after purchasing an additional 64,700 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.