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

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DAWN. Bank of America dropped their price objective on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. The Goldman Sachs Group cut 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 report on Tuesday, March 25th. Needham & Company LLC restated a “buy” rating and issued a $32.00 price objective on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. JPMorgan Chase & Co. lowered their target price on Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Finally, Wedbush reiterated an “outperform” rating and issued a $32.00 price target on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Day One Biopharmaceuticals currently has an average rating of “Buy” and a consensus target price of $32.29.

Day One Biopharmaceuticals Stock Down 4.2 %

The firm has a market cap of $783.47 million, a price-to-earnings ratio of -7.52 and a beta of -1.38. The firm has a 50 day moving average of $10.60 and a 200 day moving average of $12.59.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.34). The firm had revenue of $29.21 million for the quarter, compared to the consensus estimate of $27.11 million. Equities analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Insider Buying and Selling at Day One Biopharmaceuticals

In other news, CEO Jeremy Bender sold 12,048 shares of the company’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 directly owns 128,015 shares of the company’s stock, valued at $1,531,059.40. This represents a 8.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Charles N. York II sold 4,370 shares of the stock in a transaction on 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 owns 252,638 shares in the company, valued at approximately $3,021,550.48. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,064 shares of company stock valued at $251,925. Corporate insiders own 8.40% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

A number of hedge funds have recently bought and sold shares of DAWN. FMR LLC increased its position in shares of Day One Biopharmaceuticals by 73.9% during the 4th quarter. FMR LLC now owns 12,887,467 shares of the company’s stock valued at $163,284,000 after purchasing an additional 5,475,087 shares during the last quarter. Franklin Resources Inc. grew its position in Day One Biopharmaceuticals by 0.3% during the fourth quarter. Franklin Resources Inc. now owns 3,882,952 shares of the company’s stock valued at $49,197,000 after buying an additional 13,320 shares during the period. Estuary Capital Management LP increased its holdings in 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 worth $47,092,000 after buying an additional 972,997 shares during the last quarter. Pictet Asset Management Holding SA raised its position in Day One Biopharmaceuticals by 17.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,490,064 shares of the company’s stock worth $44,219,000 after acquiring an additional 507,398 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new position in Day One Biopharmaceuticals in the fourth quarter valued at about $31,829,000. 87.95% of the stock is currently owned by institutional investors.

Day One Biopharmaceuticals Company Profile

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.