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 Day One Biopharmaceuticals stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $8.91, for a total value of $33,198.66. Following the sale, the insider directly owned 50,809 shares of the company’s stock, valued at $452,708.19. This trade represents a 6.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Day One Biopharmaceuticals Price Performance

NASDAQ:DAWN traded down $0.27 during midday trading on Tuesday, hitting $8.57. The company’s stock had a trading volume of 1,531,756 shares, compared to its average volume of 1,496,830. Day One Biopharmaceuticals, Inc. has a fifty-two week low of $5.64 and a fifty-two week high of $14.46. The firm has a market cap of $879.97 million, a P/E ratio of -5.64 and a beta of -1.25. The firm’s 50 day moving average is $7.63 and its 200-day moving average is $7.05.

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

Institutional Trading of Day One Biopharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DAWN. Federated Hermes Inc. acquired a new stake in shares of Day One Biopharmaceuticals in the third quarter valued at $39,000. Quarry LP acquired a new position in shares of Day One Biopharmaceuticals in the third quarter worth $49,000. Ameritas Investment Partners Inc. increased its holdings in Day One Biopharmaceuticals by 44.5% during 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 period. Quantbot Technologies LP acquired a new stake in Day One Biopharmaceuticals in the first quarter valued at approximately $82,000. Finally, Entropy Technologies LP acquired a new position in Day One Biopharmaceuticals during the 2nd quarter worth approximately $67,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on DAWN shares. Needham & Company LLC lowered their price objective on Day One Biopharmaceuticals from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Piper Sandler boosted their price target on shares of Day One Biopharmaceuticals from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. HC Wainwright cut their price objective 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. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a report on Thursday, October 30th. Finally, Zacks Research upgraded Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.43.

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.