Day One Biopharmaceuticals (NASDAQ:DAWN) Reaches New 12-Month Low Following Analyst Downgrade

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s stock price hit a new 52-week low during mid-day trading on Thursday after Needham & Company LLC lowered their price target on the stock from $30.00 to $27.00. Needham & Company LLC currently has a buy rating on the stock. Day One Biopharmaceuticals traded as low as $6.26 and last traded at $6.30, with a volume of 3859708 shares trading hands. The stock had previously closed at $6.99.

A number of other analysts have also commented on the company. HC Wainwright reissued a “buy” rating and issued a $36.00 target price on shares of Day One Biopharmaceuticals in a report on Thursday, April 3rd. Wedbush reissued an “outperform” rating and issued a $32.00 target price on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. The Goldman Sachs Group decreased their price objective on shares of Day One Biopharmaceuticals from $39.00 to $27.00 and set a “buy” rating for the company in a report on Tuesday, March 25th. JPMorgan Chase & Co. lowered their price objective on shares of Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. Finally, Bank of America decreased 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. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $30.57.

Insider Transactions at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, CEO Jeremy Bender sold 12,048 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total value of $144,094.08. Following the completion of the sale, the chief executive officer now owns 128,015 shares in the company, valued at $1,531,059.40. This represents a 8.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Charles N. York II sold 4,370 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total value of $52,265.20. Following the completion of the transaction, the chief financial officer now directly owns 252,638 shares in the company, valued at $3,021,550.48. This trade represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,064 shares of company stock worth $251,925 in the last three months. Corporate insiders own 6.20% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

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 Day One Biopharmaceuticals in the 4th quarter worth $27,000. R Squared Ltd bought a new position in shares of Day One Biopharmaceuticals in the fourth quarter worth about $31,000. Pallas Capital Advisors LLC purchased a new stake in shares of Day One Biopharmaceuticals during the first quarter worth about $87,000. Wealth Enhancement Advisory Services LLC bought a new stake in Day One Biopharmaceuticals during the 1st quarter valued at approximately $88,000. Finally, Exchange Traded Concepts LLC boosted its stake in Day One Biopharmaceuticals by 19.6% in the 1st quarter. Exchange Traded Concepts LLC now owns 14,693 shares of the company’s stock worth $117,000 after purchasing an additional 2,407 shares during the period. 87.95% of the stock is owned by hedge funds and other institutional investors.

Day One Biopharmaceuticals Stock Performance

The firm has a market capitalization of $638.53 million, a PE ratio of -6.12 and a beta of -1.24. The business’s fifty day simple moving average is $7.77 and its 200-day simple moving average is $11.21.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings data on Tuesday, May 6th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.11. The company had revenue of $30.76 million for the quarter, compared to the consensus estimate of $30.28 million. Sell-side analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

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.