Day One Biopharmaceuticals (NASDAQ:DAWN) Insider Adam Dubow Sells 4,365 Shares

Key Points

• Adam Dubow, an insider at Day One Biopharmaceuticals, sold 4,365 shares at an average price of $6.77, reducing his stake by 7.37%.
• Day One Biopharmaceuticals reported a quarterly loss, posting an earnings per share of ($0.29), which beat analyst expectations but fell short of revenue targets.
• Multiple firms have adjusted their price targets for Day One Biopharmaceuticals, with a consensus target of $25.29 and most analysts rating the stock as a "buy."

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report) insider Adam Dubow sold 4,365 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $6.77, for a total value of $29,551.05. Following the completion of the sale, the insider directly owned 54,858 shares of the company's stock, valued at approximately $371,388.66. The trade was a 7.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Day One Biopharmaceuticals Trading Up 0.1%

Day One Biopharmaceuticals stock traded up $0.01 during trading hours on Tuesday, reaching $6.82. 1,763,028 shares of the company were exchanged, compared to its average volume of 2,153,315. The firm has a market cap of $698.57 million, a price-to-earnings ratio of -7.18 and a beta of -1.26. The stock has a 50-day moving average of $6.61 and a 200 day moving average of $7.71. Day One Biopharmaceuticals, Inc. has a 12 month low of $5.64 and a 12 month high of $16.76.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported ($0.29) earnings per share 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 company had revenue of $33.91 million during the quarter, compared to analysts' expectations of $35.55 million. As a group, research analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Institutional Investors Weigh In On Day One Biopharmaceuticals

A number of hedge funds have recently modified their holdings of DAWN. Renaissance Technologies LLC raised its position in shares of 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 purchasing an additional 148,900 shares during the period. Marshall Wace LLP acquired a new stake in Day One Biopharmaceuticals in the 4th quarter valued at approximately $13,909,000. Dimensional Fund Advisors LP raised its position in Day One Biopharmaceuticals by 10.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 927,017 shares of the company's stock valued at $11,745,000 after buying an additional 90,822 shares during the last quarter. MetLife Investment Management LLC raised its position in Day One Biopharmaceuticals by 12.4% in the 4th quarter. MetLife Investment Management LLC now owns 34,248 shares of the company's stock valued at $434,000 after buying an additional 3,781 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Day One Biopharmaceuticals by 911.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,657 shares of the company's stock valued at $135,000 after buying an additional 9,603 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company's stock.

Wall Street Analyst Weigh In

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.