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

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on DAWN shares. Bank of America dropped their price target 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. The Goldman Sachs Group cut their price target on Day One Biopharmaceuticals from $39.00 to $27.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. Wedbush reiterated an “outperform” rating and issued a $32.00 price objective on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. Needham & Company LLC restated a “buy” rating and set a $32.00 target price on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. decreased 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 report on Wednesday, March 5th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Day One Biopharmaceuticals has an average rating of “Buy” and an average price target of $32.29.

Day One Biopharmaceuticals Stock Down 4.0 %

The stock has a market capitalization of $771.31 million, a PE ratio of -7.39 and a beta of -1.38. The stock’s 50 day moving average price is $10.41 and its 200-day moving average price is $12.51.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings results on Tuesday, February 25th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. On average, analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current year.

Insider Activity at Day One Biopharmaceuticals

In related news, CEO Jeremy Bender sold 12,048 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $144,094.08. Following the completion of the transaction, the chief executive officer now owns 128,015 shares of the company’s stock, valued at approximately $1,531,059.40. This trade represents a 8.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Adam Dubow sold 4,646 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 value of $55,566.16. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,064 shares of company stock valued at $251,925. Insiders own 8.40% of the company’s stock.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GF Fund Management CO. LTD. bought a new position in shares of Day One Biopharmaceuticals during the fourth quarter valued at approximately $27,000. R Squared Ltd purchased a new position in Day One Biopharmaceuticals during the 4th quarter valued at $31,000. Tower Research Capital LLC TRC grew its position in Day One Biopharmaceuticals by 911.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,657 shares of the company’s stock valued at $135,000 after acquiring an additional 9,603 shares during the last quarter. E Fund Management Co. Ltd. purchased a new stake in Day One Biopharmaceuticals in the fourth quarter worth $143,000. Finally, KLP Kapitalforvaltning AS bought a new stake in shares of Day One Biopharmaceuticals during the fourth quarter worth $150,000. Hedge funds and other institutional investors 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.