Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report) gapped up prior to trading on Wednesday following a stronger than expected earnings report. The stock had previously closed at $6.99, but opened at $7.52. Day One Biopharmaceuticals shares last traded at $6.64, with a volume of 935,489 shares traded.
The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.46) by $0.11. The firm had revenue of $30.76 million during the quarter, compared to analyst estimates of $30.28 million.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on the stock. HC Wainwright restated a "buy" rating and set a $36.00 target price on shares of Day One Biopharmaceuticals in a research report on Thursday, April 3rd. Bank of America decreased their target price on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Wedbush reaffirmed an "outperform" rating and set a $32.00 price objective on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. Needham & Company LLC lowered their target price on Day One Biopharmaceuticals from $30.00 to $27.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, The Goldman Sachs Group cut their price target on Day One Biopharmaceuticals from $39.00 to $27.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Day One Biopharmaceuticals presently has an average rating of "Buy" and a consensus target price of $31.57.
Read Our Latest Stock Analysis on DAWN
Insider Activity
In other news, CEO Jeremy Bender sold 12,048 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Charles N. York II sold 4,370 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total transaction of $52,265.20. Following the completion of the sale, the chief financial officer now owns 252,638 shares of the company's stock, valued at $3,021,550.48. This trade represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,064 shares of company stock valued at $251,925 in the last three months. 6.20% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Day One Biopharmaceuticals
A number of institutional investors and hedge funds have recently modified their holdings of DAWN. FMR LLC grew its holdings in Day One Biopharmaceuticals by 73.9% in the fourth 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. Alyeska Investment Group L.P. acquired a new stake in Day One Biopharmaceuticals in the 4th quarter valued at about $31,829,000. Boxer Capital Management LLC acquired a new position in Day One Biopharmaceuticals during the fourth quarter worth about $15,077,000. Marshall Wace LLP purchased a new stake in shares of Day One Biopharmaceuticals in the fourth quarter valued at about $13,909,000. Finally, Estuary Capital Management LP grew its position in shares of Day One Biopharmaceuticals by 35.5% in the fourth quarter. Estuary Capital Management LP now owns 3,716,777 shares of the company's stock valued at $47,092,000 after purchasing an additional 972,997 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company's stock.
Day One Biopharmaceuticals Trading Down 2.7 %
The stock's 50 day moving average price is $7.83 and its two-hundred day moving average price is $11.25. The firm has a market capitalization of $689.21 million, a PE ratio of -6.43 and a beta of -1.24.
About Day One Biopharmaceuticals
(
Get Free Report)
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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