Lauren Merendino Sells 3,726 Shares of Day One Biopharmaceuticals (NASDAQ:DAWN) Stock

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) insider Lauren Merendino sold 3,726 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $8.91, for a total value of $33,198.66. Following the completion of the sale, the insider directly owned 50,809 shares of the company’s stock, valued at approximately $452,708.19. This represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Day One Biopharmaceuticals Stock Down 1.9%

NASDAQ:DAWN opened at $8.41 on Thursday. The business’s 50 day moving average is $7.68 and its two-hundred day moving average is $7.06. Day One Biopharmaceuticals, Inc. has a 52 week low of $5.64 and a 52 week high of $14.46. The company has a market cap of $863.51 million, a PE ratio of -5.53 and a beta of -1.25.

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

Analysts Set New Price Targets

Several research firms have weighed in on DAWN. Zacks Research upgraded shares of Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. HC Wainwright decreased their price target on shares of Day One Biopharmaceuticals from $36.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. JPMorgan Chase & Co. boosted their price objective on shares of Day One Biopharmaceuticals from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Needham & Company LLC cut their target price on shares of Day One Biopharmaceuticals from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research note on Thursday, October 30th. One equities research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.43.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Institutional investors have recently modified their holdings of the company. ProShare Advisors LLC increased its holdings in shares of Day One Biopharmaceuticals by 12.9% in the 2nd quarter. ProShare Advisors LLC now owns 18,545 shares of the company’s stock worth $121,000 after acquiring an additional 2,121 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Day One Biopharmaceuticals by 6.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,992 shares of the company’s stock valued at $302,000 after purchasing an additional 2,149 shares during the period. Ameritas Investment Partners Inc. grew its position in Day One Biopharmaceuticals by 44.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,349 shares of the company’s stock worth $48,000 after purchasing an additional 2,264 shares during the last quarter. Optimize Financial Inc increased its stake in shares of Day One Biopharmaceuticals by 16.0% in the first quarter. Optimize Financial Inc now owns 17,960 shares of the company’s stock valued at $142,000 after purchasing an additional 2,473 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in shares of Day One Biopharmaceuticals by 18.4% in the second quarter. Teacher Retirement System of Texas now owns 17,721 shares of the company’s stock valued at $115,000 after purchasing an additional 2,750 shares during the period. 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.