Day One Biopharmaceuticals (NASDAQ:DAWN) Reaches New 1-Year Low – Should You Sell?

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) reached a new 52-week low on Tuesday . The stock 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

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

Day One Biopharmaceuticals Price Performance

The stock has a market cap of $821.68 million, a P/E ratio of -7.87 and a beta of -1.38. The stock’s 50 day simple moving average is $11.68 and its two-hundred day simple moving average is $13.15.

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

Insider Buying and Selling

In other Day One Biopharmaceuticals news, CEO Jeremy Bender sold 12,048 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total transaction of $144,094.08. Following the transaction, the chief executive officer now owns 128,015 shares of the company’s stock, valued at $1,531,059.40. The trade was a 8.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Adam Dubow sold 4,646 shares of the 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 $55,566.16. Following the completion of the sale, the general counsel now directly owns 39,602 shares of the company’s stock, valued at approximately $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 three months, insiders sold 21,064 shares of company stock worth $251,925. 8.40% of the stock is owned by corporate insiders.

Institutional Trading of Day One Biopharmaceuticals

Large investors have recently added to or reduced their stakes in the company. TimesSquare Capital Management LLC grew its position in shares of Day One Biopharmaceuticals by 8.2% in the third quarter. TimesSquare Capital Management LLC now owns 1,827,695 shares of the company’s stock valued at $25,460,000 after purchasing an additional 139,160 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Day One Biopharmaceuticals during the 3rd quarter worth $825,000. Quest Partners LLC boosted its stake in Day One Biopharmaceuticals by 9,238.6% in the third quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock valued at $108,000 after buying an additional 7,668 shares in the last quarter. First Turn Management LLC acquired a new stake in Day One Biopharmaceuticals in the third quarter valued at about $13,204,000. Finally, Intech Investment Management LLC bought a new position in Day One Biopharmaceuticals in the third quarter valued at about $324,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

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.