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

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s share price gapped down before the market opened on Monday after an insider sold shares in the company. 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 traded.

Specifically, CFO Charles N. York II sold 8,078 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.85, for a total value of $144,192.30. Following the transaction, the chief financial officer now owns 217,293 shares in the company, valued at approximately $3,878,680.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Day One Biopharmaceuticals news, CFO Charles N. York II sold 8,078 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $17.85, for a total transaction of $144,192.30. Following the sale, the chief financial officer now directly owns 217,293 shares in the company, valued at approximately $3,878,680.05. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Charles N. York II sold 52,183 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $17.89, for a total value of $933,553.87. Following the completion of the transaction, the chief financial officer now directly owns 225,571 shares of the company’s stock, valued at approximately $4,035,465.19. The disclosure for this sale can be found here. Over the last three months, insiders have sold 195,247 shares of company stock valued at $3,376,817. Insiders own 8.40% of the company’s stock.

Analyst Ratings Changes

DAWN has been the topic of several research analyst reports. Oppenheimer reissued a “market perform” rating on shares of Day One Biopharmaceuticals in a report on Tuesday, February 27th. The Goldman Sachs Group dropped their price target on shares of Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. HC Wainwright reissued a “buy” rating and issued a $50.00 price objective on shares of Day One Biopharmaceuticals in a research note on Wednesday, April 24th. Needham & Company LLC boosted their price objective on Day One Biopharmaceuticals from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. increased their target price on Day One Biopharmaceuticals from $32.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, April 22nd. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.33.

Day One Biopharmaceuticals Trading Down 1.3 %

The firm’s 50-day moving average price is $15.45 and its 200-day moving average price is $14.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings data on Monday, February 26th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.57) by ($0.07). As a group, sell-side analysts anticipate that Day One Biopharmaceuticals, Inc. will post -2.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Several large investors have recently added to or reduced their stakes in the stock. Quest Partners LLC purchased a new stake in shares of Day One Biopharmaceuticals in the 4th quarter worth $29,000. China Universal Asset Management Co. Ltd. grew its holdings in Day One Biopharmaceuticals by 130.9% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,226 shares of the company’s stock worth $27,000 after acquiring an additional 1,262 shares in the last quarter. Quintet Private Bank Europe S.A. increased its position in Day One Biopharmaceuticals by 43.2% during 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 period. Amalgamated Bank raised its holdings in shares of Day One Biopharmaceuticals by 35.7% in the 3rd quarter. Amalgamated Bank now owns 8,628 shares of the company’s stock valued at $106,000 after purchasing an additional 2,268 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Day One Biopharmaceuticals by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 10,072 shares of the company’s stock worth $147,000 after purchasing an additional 2,554 shares during the period. 87.95% of the stock is owned by hedge funds and other institutional investors.

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.