Insider Selling: Day One Biopharmaceuticals (NASDAQ:DAWN) Insider Sells 3,726 Shares of Stock

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) insider Lauren Merendino sold 3,726 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 transaction of $33,198.66. Following the completion of the transaction, the insider owned 50,809 shares of the company’s stock, valued at approximately $452,708.19. The trade was a 6.83% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Day One Biopharmaceuticals Price Performance

Shares of DAWN traded down $0.27 during midday trading on Tuesday, reaching $8.57. 1,531,756 shares of the stock were exchanged, compared to its average volume of 1,496,830. Day One Biopharmaceuticals, Inc. has a twelve month low of $5.64 and a twelve month high of $14.46. The company has a market capitalization of $879.97 million, a price-to-earnings ratio of -5.64 and a beta of -1.25. The business’s 50-day moving average price is $7.63 and its 200 day moving average price is $7.05.

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

Institutional Trading of Day One Biopharmaceuticals

A number of large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp boosted its stake in shares of Day One Biopharmaceuticals by 1.5% during the 1st quarter. Bank of New York Mellon Corp now owns 248,380 shares of the company’s stock worth $1,970,000 after purchasing an additional 3,551 shares during the last quarter. Cerity Partners LLC acquired a new position in shares of Day One Biopharmaceuticals during the 1st quarter valued at about $119,000. CWM LLC raised its stake in Day One Biopharmaceuticals by 16,774.4% during the first quarter. CWM LLC now owns 21,768 shares of the company’s stock worth $173,000 after purchasing an additional 21,639 shares during the period. Allianz Asset Management GmbH acquired a new position in Day One Biopharmaceuticals in the first quarter valued at $198,000. Finally, Corton Capital Inc. acquired a new position in shares of Day One Biopharmaceuticals in the 1st quarter valued at about $130,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

Analysts Set New Price Targets

DAWN has been the topic of a number of recent research reports. Piper Sandler lifted their price objective on shares of Day One Biopharmaceuticals from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Wednesday, November 5th. 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 cut their target price on Day One Biopharmaceuticals from $36.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. JPMorgan Chase & Co. increased their price objective on Day One Biopharmaceuticals from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Finally, Needham & Company LLC decreased their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Day One Biopharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $24.43.

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.