Day One Biopharmaceuticals (NASDAQ:DAWN) Hits New 1-Year Low – Here’s Why

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s stock price reached a new 52-week low on Tuesday . The company traded as low as $7.93 and last traded at $7.95, with a volume of 50747 shares traded. The stock had previously closed at $8.07.

Analyst Ratings Changes

A number of research firms recently weighed in on DAWN. HC Wainwright dropped their target price on Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. The Goldman Sachs Group reduced their target price on Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating on the stock in a research note on Monday, February 10th. Needham & Company LLC reissued a “buy” rating and set a $32.00 target price on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. Wedbush reissued an “outperform” rating and set a $32.00 target price on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. Finally, Bank of America reduced their target price on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $34.57.

Day One Biopharmaceuticals Stock Up 1.5 %

The company has a fifty day simple moving average of $11.52 and a 200 day simple moving average of $13.09. The firm has a market capitalization of $890.91 million, a P/E ratio of -8.53 and a beta of -1.38.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its earnings results on Tuesday, February 25th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.34). The business had revenue of $29.21 million during the quarter, compared to analyst estimates of $27.11 million. As a group, equities analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Day One Biopharmaceuticals news, CEO Jeremy Bender sold 12,048 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total value of $144,094.08. Following the sale, the chief executive officer now directly owns 128,015 shares of the company’s stock, valued at approximately $1,531,059.40. The trade was a 8.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Adam Dubow sold 4,646 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $55,566.16. Following the transaction, the general counsel now directly owns 39,602 shares in the company, valued at approximately $473,639.92. The trade was a 10.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,064 shares of company stock valued at $251,925. 8.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of DAWN. GF Fund Management CO. LTD. bought a new position in shares of Day One Biopharmaceuticals during the fourth quarter valued at $27,000. R Squared Ltd bought a new position in shares of Day One Biopharmaceuticals during the fourth quarter valued at $31,000. Quest Partners LLC lifted its holdings in shares of Day One Biopharmaceuticals by 9,238.6% during the third quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock valued at $108,000 after purchasing an additional 7,668 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Day One Biopharmaceuticals by 911.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,657 shares of the company’s stock valued at $135,000 after purchasing an additional 9,603 shares in the last quarter. Finally, E Fund Management Co. Ltd. bought a new position in shares of Day One Biopharmaceuticals during the fourth quarter valued at $143,000. 87.95% of the stock is owned by institutional investors.

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.