Day One Biopharmaceuticals (NASDAQ:DAWN) Stock Price Up 9% - What's Next?

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report)'s stock price traded up 9% during mid-day trading on Monday . The company traded as high as $6.86 and last traded at $6.96. 1,175,884 shares were traded during mid-day trading, an increase of 5% from the average session volume of 1,116,688 shares. The stock had previously closed at $6.38.

Wall Street Analyst Weigh In

DAWN has been the subject of several research analyst reports. The Goldman Sachs Group decreased their target price on Day One Biopharmaceuticals from $39.00 to $27.00 and set a "buy" rating for the company in a research report on Tuesday, March 25th. Needham & Company LLC lowered their price objective on shares of Day One Biopharmaceuticals from $30.00 to $27.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Wedbush reissued an "outperform" rating and set a $25.00 target price on shares of Day One Biopharmaceuticals in a research report on Wednesday, May 7th. HC Wainwright reaffirmed a "buy" rating and issued a $36.00 price target on shares of Day One Biopharmaceuticals in a report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. reduced their price objective on Day One Biopharmaceuticals from $39.00 to $34.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $30.57.

Day One Biopharmaceuticals Trading Down 0.7%

The company's fifty day simple moving average is $6.97 and its 200 day simple moving average is $10.06. The stock has a market capitalization of $702.44 million, a P/E ratio of -6.73 and a beta of -1.24.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.11. The business had revenue of $30.76 million for the quarter, compared to the consensus estimate of $30.28 million. Equities research analysts predict that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current year.

Insider Buying and Selling

In other Day One Biopharmaceuticals news, CFO Charles N. York II sold 4,282 shares of the company's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $6.26, for a total value of $26,805.32. Following the completion of the sale, the chief financial officer now owns 265,231 shares of the company's stock, valued at $1,660,346.06. This represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Adam Dubow sold 4,552 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $6.26, for a total transaction of $28,495.52. Following the transaction, the general counsel now directly owns 47,136 shares in the company, valued at $295,071.36. This trade represents a 8.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,725 shares of company stock worth $167,299. Insiders own 6.20% of the company's stock.

Institutional Trading of Day One Biopharmaceuticals

Several institutional investors have recently added to or reduced their stakes in DAWN. FMR LLC increased its position in shares of 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 acquiring an additional 5,475,087 shares during the period. Vanguard Group Inc. grew its position in shares of Day One Biopharmaceuticals by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 5,943,243 shares of the company's stock worth $47,130,000 after buying an additional 94,320 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in shares of Day One Biopharmaceuticals by 61.6% during the first quarter. Alyeska Investment Group L.P. now owns 4,059,764 shares of the company's stock valued at $32,194,000 after buying an additional 1,547,577 shares during the period. Franklin Resources Inc. raised its holdings in shares of Day One Biopharmaceuticals by 0.3% during the fourth quarter. Franklin Resources Inc. now owns 3,882,952 shares of the company's stock valued at $49,197,000 after acquiring an additional 13,320 shares in the last quarter. Finally, Estuary Capital Management LP lifted its stake in 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 worth $47,092,000 after acquiring an additional 972,997 shares during the period. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

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.