Day One Biopharmaceuticals (NASDAQ:DAWN) CEO Sells $108,712.66 in Stock

Key Points

• Day One Biopharmaceuticals CEO Jeremy Bender sold 16,058 shares at an average price of $6.77, reducing his ownership by 9.05%.
• The company reported a quarterly earnings of (-$0.29) EPS, surpassing estimates but generating revenue of $33.91 million, below anticipated levels.
• Analysts have a consensus Buy rating on DAWN with an average price target of $25.29, despite recent target price reductions by several firms.

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report) CEO Jeremy Bender sold 16,058 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $6.77, for a total transaction of $108,712.66. Following the sale, the chief executive officer owned 161,365 shares in the company, valued at approximately $1,092,441.05. This represents a 9.05% 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 Trading Up 3.2%

NASDAQ:DAWN traded up $0.22 during mid-day trading on Friday, hitting $7.20. 1,648,230 shares of the company's stock were exchanged, compared to its average volume of 2,114,697. The company has a 50 day simple moving average of $6.63 and a 200-day simple moving average of $7.57. Day One Biopharmaceuticals, Inc. has a fifty-two week low of $5.64 and a fifty-two week high of $16.76. The firm has a market capitalization of $737.50 million, a P/E ratio of -7.58 and a beta of -1.26.

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

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of DAWN. Renaissance Technologies LLC lifted its position in shares of Day One Biopharmaceuticals by 157.0% during the 4th quarter. Renaissance Technologies LLC now owns 243,740 shares of the company's stock valued at $3,088,000 after acquiring an additional 148,900 shares during the period. Marshall Wace LLP acquired a new position in shares of Day One Biopharmaceuticals during the 4th quarter valued at $13,909,000. Dimensional Fund Advisors LP lifted its position in shares of Day One Biopharmaceuticals by 10.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 927,017 shares of the company's stock valued at $11,745,000 after acquiring an additional 90,822 shares during the period. MetLife Investment Management LLC lifted its position in shares of Day One Biopharmaceuticals by 12.4% during the 4th quarter. MetLife Investment Management LLC now owns 34,248 shares of the company's stock valued at $434,000 after acquiring an additional 3,781 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in shares of Day One Biopharmaceuticals by 911.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,657 shares of the company's stock valued at $135,000 after acquiring an additional 9,603 shares during the period. Institutional investors and hedge funds own 87.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DAWN. Needham & Company LLC dropped 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. Piper Sandler began coverage on shares of Day One Biopharmaceuticals in a research report on Monday, August 18th. They issued an "overweight" rating and a $25.00 price target on the stock. HC Wainwright dropped 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. Finally, Wedbush restated an "outperform" rating and issued a $25.00 price target on shares of Day One Biopharmaceuticals in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price 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.