Day One Biopharmaceuticals (NASDAQ:DAWN) Shares Gap Down After Insider Selling

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) shares gapped down prior to trading on Monday following insider selling activity. The stock had previously closed at $17.17, but opened at $16.68. Day One Biopharmaceuticals shares last traded at $16.95, with a volume of 180,297 shares trading hands.

Specifically, insider Samuel C. Blackman sold 2,258 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $15.25, for a total transaction of $34,434.50. Following the completion of the sale, the insider now directly owns 1,244,662 shares of the company’s stock, valued at $18,981,095.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Samuel C. Blackman sold 2,258 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $15.25, for a total transaction of $34,434.50. Following the completion of the sale, the insider now directly owns 1,244,662 shares of the company’s stock, valued at $18,981,095.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Charles N. York II sold 2,666 shares of Day One Biopharmaceuticals stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.25, for a total value of $40,656.50. Following the completion of the sale, the chief financial officer now owns 277,754 shares of the company’s stock, valued at $4,235,748.50. The disclosure for this sale can be found here. Insiders sold 195,247 shares of company stock valued at $3,376,817 over the last three months. 8.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DAWN shares. Piper Sandler reiterated an “overweight” rating and issued a $40.00 target price on shares of Day One Biopharmaceuticals in a report on Tuesday, March 26th. Wedbush reiterated an “outperform” rating and issued a $33.00 target price on shares of Day One Biopharmaceuticals in a report on Wednesday, April 24th. JPMorgan Chase & Co. boosted their target price on shares of Day One Biopharmaceuticals from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Needham & Company LLC boosted their target price on shares of Day One Biopharmaceuticals from $30.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, HC Wainwright restated a “buy” rating and set a $50.00 price target on shares of Day One Biopharmaceuticals in a research note on Wednesday, April 24th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, Day One Biopharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.33.

Day One Biopharmaceuticals Stock Down 3.3 %

The stock has a 50-day moving average of $15.45 and a 200 day moving average of $14.07. The stock has a market cap of $1.45 billion, a PE ratio of -6.97 and a beta of -1.44.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings data on Monday, February 26th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.07). On average, equities analysts anticipate that Day One Biopharmaceuticals, Inc. will post -2.67 EPS for the current year.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Several hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System raised its stake in shares of Day One Biopharmaceuticals by 8.8% during the 3rd quarter. Arizona State Retirement System now owns 12,363 shares of the company’s stock worth $152,000 after buying an additional 995 shares during the period. Quintet Private Bank Europe S.A. raised its stake in Day One Biopharmaceuticals by 43.2% in the 4th quarter. Quintet Private Bank Europe S.A. now owns 3,313 shares of the company’s stock valued at $48,000 after purchasing an additional 1,000 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in Day One Biopharmaceuticals by 130.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,226 shares of the company’s stock valued at $27,000 after purchasing an additional 1,262 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Day One Biopharmaceuticals by 2.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 59,289 shares of the company’s stock valued at $979,000 after purchasing an additional 1,445 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Day One Biopharmaceuticals by 9.7% in the 3rd quarter. Principal Financial Group Inc. now owns 17,781 shares of the company’s stock worth $218,000 after acquiring an additional 1,569 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

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.