Day One Biopharmaceuticals (NASDAQ:DAWN) Stock Price Down 2.7% – Should You Sell?

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s share price traded down 2.7% during mid-day trading on Monday . The company traded as low as $6.94 and last traded at $6.93. 83,048 shares were traded during mid-day trading, a decline of 93% from the average session volume of 1,115,473 shares. The stock had previously closed at $7.12.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on DAWN shares. Bank of America reduced their price target on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. HC Wainwright reiterated a “buy” rating and set a $36.00 target price on shares of Day One Biopharmaceuticals in a research report on Thursday, April 3rd. Needham & Company LLC reissued a “buy” rating and issued a $32.00 target price on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. The Goldman Sachs Group cut their price target on Day One Biopharmaceuticals from $39.00 to $27.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Seven analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Day One Biopharmaceuticals currently has an average rating of “Buy” and an average price target of $32.29.

Day One Biopharmaceuticals Price Performance

The firm has a market capitalization of $728.74 million, a PE ratio of -6.98 and a beta of -1.24. The company has a 50-day moving average price of $9.13 and a 200-day moving average price of $11.95.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its earnings results on Tuesday, February 25th. The company reported ($0.69) earnings per share (EPS) 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. On average, research analysts predict that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jeremy Bender sold 12,048 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 128,015 shares of the company’s stock, valued at $1,531,059.40. This represents a 8.60 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Charles N. York II sold 4,370 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total transaction of $52,265.20. Following the transaction, the chief financial officer now owns 252,638 shares in the company, valued at approximately $3,021,550.48. The trade was a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,064 shares of company stock worth $251,925. 8.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of DAWN. FMR LLC grew its stake in shares of Day One Biopharmaceuticals by 73.9% during the 4th quarter. FMR LLC now owns 12,887,467 shares of the company’s stock valued at $163,284,000 after buying an additional 5,475,087 shares during the period. Alyeska Investment Group L.P. acquired a new position in Day One Biopharmaceuticals in the fourth quarter valued at $31,829,000. Boxer Capital Management LLC purchased a new stake in Day One Biopharmaceuticals during the fourth quarter valued at about $15,077,000. Marshall Wace LLP purchased a new position in shares of Day One Biopharmaceuticals in the 4th quarter worth about $13,909,000. Finally, Estuary Capital Management LP raised its holdings in shares of Day One Biopharmaceuticals by 35.5% in the 4th quarter. Estuary Capital Management LP now owns 3,716,777 shares of the company’s stock worth $47,092,000 after purchasing an additional 972,997 shares during the period. Institutional investors and hedge funds 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.