Day One Biopharmaceuticals (NASDAQ:DAWN) Hits New 12-Month Low – Here’s What Happened

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) hit a new 52-week low on Monday . The stock traded as low as $7.54 and last traded at $7.66, with a volume of 139071 shares changing hands. The stock had previously closed at $8.07.

Analysts Set New Price Targets

DAWN has been the subject of a number of recent research reports. HC Wainwright decreased 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 decreased their price objective on Day One Biopharmaceuticals from $39.00 to $27.00 and set a “buy” rating for the company in a report on Tuesday, March 25th. Wedbush reaffirmed an “outperform” rating and set a $32.00 price objective on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. Bank of America reduced their target price on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, JPMorgan Chase & Co. dropped their price target 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 equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $32.29.

Day One Biopharmaceuticals Price Performance

The business’s fifty day moving average price is $10.60 and its 200-day moving average price is $12.59. The stock has a market capitalization of $783.47 million, a PE ratio of -7.52 and a beta of -1.38.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly 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 for the quarter, compared to analysts’ expectations of $27.11 million. On average, analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

Insider Activity at Day One Biopharmaceuticals

In related news, CEO Jeremy Bender sold 12,048 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 $1,531,059.40. This trade represents a 8.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, General Counsel Adam Dubow sold 4,646 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total transaction of $55,566.16. Following the completion of the transaction, the general counsel now directly owns 39,602 shares in the company, valued at $473,639.92. The trade was a 10.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,064 shares of company stock valued at $251,925. Company insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

A number of large investors have recently modified their holdings of DAWN. SG Americas Securities LLC purchased a new stake in Day One Biopharmaceuticals in the fourth quarter worth approximately $866,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Day One Biopharmaceuticals by 14.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 507,448 shares of the company’s stock worth $7,069,000 after acquiring an additional 64,700 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Day One Biopharmaceuticals by 90.6% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 121,167 shares of the company’s stock valued at $1,535,000 after purchasing an additional 57,601 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Day One Biopharmaceuticals by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,432,697 shares of the company’s stock valued at $19,961,000 after purchasing an additional 136,458 shares during the last quarter. Finally, Erste Asset Management GmbH purchased a new position in Day One Biopharmaceuticals in the 3rd quarter worth $725,000. 87.95% of the stock is owned by hedge funds and other 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.