Charles York II Sells 4,106 Shares of Day One Biopharmaceuticals (NASDAQ:DAWN) Stock

Key Points

• CFO Charles York II of Day One Biopharmaceuticals sold 4,106 shares at an average price of $6.77, reducing his ownership by 1.46%.
• Following the latest earnings report, the company had a revenue of $33.91 million, missing the consensus estimate of $35.55 million, with expected -0.72 EPS for the current fiscal year.
• Equity analysts remain optimistic, with several setting price targets of $25 for the stock and an average rating of 'Buy'.

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report) CFO Charles York II sold 4,106 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $6.77, for a total value of $27,797.62. Following the completion of the transaction, the chief financial officer directly owned 278,000 shares in the company, valued at approximately $1,882,060. The trade was a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Day One Biopharmaceuticals Stock Performance

Shares of NASDAQ DAWN traded up $0.01 during mid-day trading on Tuesday, hitting $6.82. The stock had a trading volume of 1,763,028 shares, compared to its average volume of 2,153,315. The company has a 50 day moving average of $6.61 and a two-hundred day moving average of $7.71. Day One Biopharmaceuticals, Inc. has a twelve month low of $5.64 and a twelve month high of $16.76. The firm has a market cap of $698.57 million, a PE ratio of -7.18 and a beta of -1.26.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.06. Day One Biopharmaceuticals had a negative return on equity of 19.01% and a negative net margin of 50.63%.The firm had revenue of $33.91 million for the quarter, compared to the consensus estimate of $35.55 million. Equities research analysts predict that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on DAWN shares. Piper Sandler started coverage on Day One Biopharmaceuticals in a research report on Monday. They set an "overweight" rating and a $25.00 price target on the stock. Wedbush reissued an "outperform" rating and set a $25.00 target price on shares of Day One Biopharmaceuticals in a research note on Wednesday, May 7th. Needham & Company LLC lowered their target price on shares of Day One Biopharmaceuticals from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Finally, HC Wainwright decreased their price target on shares of Day One Biopharmaceuticals from $36.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to data from MarketBeat, Day One Biopharmaceuticals has an average rating of "Buy" and a consensus price target of $25.29.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Renaissance Technologies LLC grew its position in Day One Biopharmaceuticals by 157.0% during the fourth quarter. Renaissance Technologies LLC now owns 243,740 shares of the company's stock worth $3,088,000 after buying an additional 148,900 shares during the period. Marshall Wace LLP acquired a new stake in shares of Day One Biopharmaceuticals in the fourth quarter valued at approximately $13,909,000. Dimensional Fund Advisors LP grew its position in shares of Day One Biopharmaceuticals by 10.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 927,017 shares of the company's stock valued at $11,745,000 after purchasing an additional 90,822 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of Day One Biopharmaceuticals by 12.4% in the fourth quarter. MetLife Investment Management LLC now owns 34,248 shares of the company's stock valued at $434,000 after purchasing an additional 3,781 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in shares of Day One Biopharmaceuticals by 911.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,657 shares of the company's stock valued at $135,000 after purchasing an additional 9,603 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

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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