Day One Biopharmaceuticals (NASDAQ:DAWN) Shares Gap Down – Time to Sell?
by Kim Johansen · The Markets DailyDay One Biopharmaceuticals, Inc. (NASDAQ:DAWN – Get Free Report)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $10.34, but opened at $9.00. Day One Biopharmaceuticals shares last traded at $9.9350, with a volume of 902,966 shares.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on DAWN shares. Needham & Company LLC decreased their price target on shares of Day One Biopharmaceuticals from $18.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. HC Wainwright dropped their price target on Day One Biopharmaceuticals from $36.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a report on Thursday, October 30th. Piper Sandler upped their price objective on Day One Biopharmaceuticals from $25.00 to $26.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Finally, JPMorgan Chase & Co. increased their target price on Day One Biopharmaceuticals from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.43.
Read Our Latest Analysis on Day One Biopharmaceuticals
Day One Biopharmaceuticals Stock Down 0.6%
The stock has a market cap of $903.58 million, a price-to-earnings ratio of -5.79 and a beta of -1.25. The company’s 50-day simple moving average is $7.60 and its 200-day simple moving average is $7.05.
Day One Biopharmaceuticals (NASDAQ:DAWN – Get Free Report) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.09. The business had revenue of $39.80 million during the quarter, compared to analyst estimates of $38.20 million. Day One Biopharmaceuticals had a negative return on equity of 32.05% and a negative net margin of 113.53%.Day One Biopharmaceuticals’s revenue for the quarter was down 57.6% on a year-over-year basis. During the same quarter last year, the company posted $0.38 EPS. As a group, analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.
Insider Activity
In other Day One Biopharmaceuticals news, insider Lauren Merendino sold 3,766 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $6.77, for a total transaction of $25,495.82. Following the transaction, the insider directly owned 41,931 shares in the company, valued at approximately $283,872.87. The trade was a 8.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Charles N. York II sold 4,106 shares of the business’s stock in a transaction on Monday, August 18th. The shares were sold at an average price of $6.77, for a total transaction of $27,797.62. Following the sale, the chief financial officer directly owned 278,000 shares in the company, valued at approximately $1,882,060. This trade represents a 1.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 28,295 shares of company stock valued at $191,557. 6.20% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Day One Biopharmaceuticals
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Federated Hermes Inc. bought a new position in Day One Biopharmaceuticals in the 3rd quarter valued at $39,000. Ameritas Investment Partners Inc. lifted its stake in shares of Day One Biopharmaceuticals by 44.5% during the second quarter. Ameritas Investment Partners Inc. now owns 7,349 shares of the company’s stock valued at $48,000 after acquiring an additional 2,264 shares during the period. Entropy Technologies LP bought a new position in Day One Biopharmaceuticals in the second quarter valued at about $67,000. Prudential Financial Inc. acquired a new stake in Day One Biopharmaceuticals in the second quarter worth about $69,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Day One Biopharmaceuticals in the second quarter worth about $76,000. 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.
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