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

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 dated Monday, August 18th. The shares were sold at an average price of $6.77, for a total transaction of $29,551.05. Following the completion of the transaction, the insider owned 54,858 shares in the company, valued at $371,388.66. The trade was a 7.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Day One Biopharmaceuticals Trading Up 3.2%

Shares of DAWN stock traded up $0.22 during mid-day trading on Friday, reaching $7.20. The stock had a trading volume of 1,648,230 shares, compared to its average volume of 2,114,697. The stock's 50-day moving average price is $6.63 and its two-hundred day moving average price is $7.57. Day One Biopharmaceuticals, Inc. has a 52-week low of $5.64 and a 52-week high of $16.76. The firm has a market capitalization of $737.50 million, a PE ratio of -7.58 and a beta of -1.26.

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

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Alyeska Investment Group L.P. bought a new stake in Day One Biopharmaceuticals during the fourth quarter worth about $31,829,000. Boxer Capital Management LLC bought a new stake in Day One Biopharmaceuticals during the fourth quarter worth about $15,077,000. Vestal Point Capital LP boosted its stake in Day One Biopharmaceuticals by 80.4% during the first quarter. Vestal Point Capital LP now owns 2,598,127 shares of the company's stock worth $20,603,000 after acquiring an additional 1,158,127 shares in the last quarter. Millennium Management LLC boosted its stake in Day One Biopharmaceuticals by 587.2% during the first quarter. Millennium Management LLC now owns 1,320,095 shares of the company's stock worth $10,468,000 after acquiring an additional 1,127,995 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in Day One Biopharmaceuticals during the fourth quarter worth about $13,909,000. Hedge funds and other institutional investors own 87.95% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DAWN shares. HC Wainwright reduced 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 report on Wednesday, August 6th. Wedbush reiterated an "outperform" rating and set a $25.00 price target on shares of Day One Biopharmaceuticals in a research report on Wednesday, May 7th. Piper Sandler started coverage on shares of Day One Biopharmaceuticals in a research report on Monday, August 18th. They set an "overweight" rating and a $25.00 price target on the stock. Finally, Needham & Company LLC reduced their price target on shares of Day One Biopharmaceuticals from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $25.29.

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.