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

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

Wall Street Analyst Weigh In

DAWN has been the topic of several research analyst reports. JPMorgan Chase & Co. decreased 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. HC Wainwright dropped their price objective on shares of Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Wedbush reissued an “outperform” rating and issued a $32.00 target price on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price target on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. Finally, The Goldman Sachs Group reduced their price target on shares of Day One Biopharmaceuticals from $39.00 to $27.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Seven equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Day One Biopharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $32.29.

Day One Biopharmaceuticals Stock Down 4.0 %

The firm’s fifty day moving average price is $10.41 and its 200-day moving average price is $12.51. The stock has a market cap of $771.31 million, a P/E ratio of -7.39 and a beta of -1.38.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $27.11 million. Sell-side analysts predict that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current year.

Insiders Place Their Bets

In other Day One Biopharmaceuticals news, CFO Charles N. York II sold 4,370 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $52,265.20. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jeremy Bender sold 12,048 shares of Day One Biopharmaceuticals 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 in the company, valued at approximately $1,531,059.40. The trade was a 8.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,064 shares of company stock worth $251,925. 8.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Day One Biopharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of Day One Biopharmaceuticals by 73.9% in the 4th quarter. FMR LLC now owns 12,887,467 shares of the company’s stock worth $163,284,000 after buying an additional 5,475,087 shares during the period. Franklin Resources Inc. grew its holdings in Day One Biopharmaceuticals by 0.3% in the fourth quarter. Franklin Resources Inc. now owns 3,882,952 shares of the company’s stock worth $49,197,000 after purchasing an additional 13,320 shares during the period. Estuary Capital Management LP increased its stake in shares of Day One Biopharmaceuticals by 35.5% during the fourth quarter. Estuary Capital Management LP now owns 3,716,777 shares of the company’s stock valued at $47,092,000 after purchasing an additional 972,997 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Day One Biopharmaceuticals by 17.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,490,064 shares of the company’s stock valued at $44,219,000 after purchasing an additional 507,398 shares during the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in shares of Day One Biopharmaceuticals in the 4th quarter worth approximately $31,829,000. 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.