Day One Biopharmaceuticals (NASDAQ:DAWN) Stock Price Down 6% – What’s Next?

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s stock price fell 6% during mid-day trading on Friday . The company traded as low as $9.34 and last traded at $9.3690. 449,473 shares were traded during mid-day trading, a decline of 72% from the average session volume of 1,620,085 shares. The stock had previously closed at $9.97.

Analyst Upgrades and Downgrades

Several brokerages recently commented on DAWN. Needham & Company LLC reissued a “buy” rating and set a $16.00 price target on shares of Day One Biopharmaceuticals in a research report on Monday, November 24th. Weiss Ratings reissued a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a report on Monday. JPMorgan Chase & Co. raised their target price on shares of Day One Biopharmaceuticals from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Piper Sandler upped their price target on shares of Day One Biopharmaceuticals from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Finally, Zacks Research raised shares of Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Day One Biopharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $24.43.

Day One Biopharmaceuticals Price Performance

The stock has a market capitalization of $982.13 million, a P/E ratio of -6.29 and a beta of -1.27. The stock’s 50-day simple moving average is $8.33 and its 200 day simple moving average is $7.38.

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

Insider Transactions at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, insider Adam Dubow sold 4,319 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $8.91, for a total transaction of $38,482.29. Following the transaction, the insider owned 62,626 shares in the company, valued at $557,997.66. This trade represents a 6.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeremy Bender sold 15,894 shares of the company’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $8.91, for a total value of $141,615.54. Following the sale, the chief executive officer owned 177,165 shares of the company’s stock, valued at approximately $1,578,540.15. The trade was a 8.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 28,001 shares of company stock worth $249,489. Insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of DAWN. Hudson Bay Capital Management LP lifted its position in Day One Biopharmaceuticals by 1.8% during the third quarter. Hudson Bay Capital Management LP now owns 1,320,000 shares of the company’s stock worth $9,306,000 after purchasing an additional 23,300 shares during the period. Tudor Investment Corp ET AL raised its position in shares of Day One Biopharmaceuticals by 36.2% in the 3rd quarter. Tudor Investment Corp ET AL now owns 49,550 shares of the company’s stock valued at $349,000 after buying an additional 13,157 shares in the last quarter. PharVision Advisers LLC bought a new stake in shares of Day One Biopharmaceuticals during the 3rd quarter worth approximately $299,000. XTX Topco Ltd boosted its position in shares of Day One Biopharmaceuticals by 224.9% during the 3rd quarter. XTX Topco Ltd now owns 78,848 shares of the company’s stock worth $556,000 after acquiring an additional 54,580 shares in the last quarter. Finally, Polymer Capital Management US LLC bought a new position in Day One Biopharmaceuticals in the third quarter valued at approximately $134,000. Institutional investors own 87.95% of the company’s stock.

Day One Biopharmaceuticals Company Profile

Day One Biopharmaceuticals, Inc (NASDAQ: DAWN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted therapies for oncology. The company employs a precision medicine approach, leveraging biomarker-driven strategies to identify patient populations most likely to respond to its investigational compounds. By concentrating on well-validated molecular drivers of cancer, Day One seeks to deliver first-in-class or best-in-class therapies with the potential for meaningful clinical benefit.

The company’s pipeline includes several small-molecule candidates in various stages of development.