Lauren Merendino Sells 3,766 Shares of Day One Biopharmaceuticals (NASDAQ:DAWN) Stock

Key Points

• Lauren Merendino, an insider at Day One Biopharmaceuticals, sold 3,766 shares of the company's stock at an average price of $6.77, decreasing their position by 8.24%.
• Day One Biopharmaceuticals had a negative net margin of 50.63% in its latest quarterly earnings, reporting an EPS of ($0.29) and revenue of $33.91 million, which was below analyst estimates.
• The company's stock has seen institutional interest, with 87.95% of the stock currently owned by institutional investors, and several firms have set target prices as high as $25.00.

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report) insider Lauren Merendino sold 3,766 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $6.77, for a total transaction of $25,495.82. Following the sale, the insider directly owned 41,931 shares in the company, valued at $283,872.87. The trade was a 8.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Day One Biopharmaceuticals Stock Performance

DAWN stock traded up $0.01 during midday trading on Tuesday, reaching $6.82. 1,763,028 shares of the company's stock traded hands, compared to its average volume of 2,153,315. The company has a 50-day moving average price of $6.61 and a two-hundred day moving average price of $7.71. 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 $698.57 million, a PE ratio of -7.18 and a beta of -1.26.

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

Institutional Trading of Day One Biopharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of DAWN. Alyeska Investment Group L.P. bought a new stake in Day One Biopharmaceuticals in the 4th quarter valued at $31,829,000. Boxer Capital Management LLC bought a new stake in Day One Biopharmaceuticals in the 4th quarter valued at $15,077,000. Vestal Point Capital LP increased its holdings in Day One Biopharmaceuticals by 80.4% in the 1st quarter. Vestal Point Capital LP now owns 2,598,127 shares of the company's stock valued at $20,603,000 after acquiring an additional 1,158,127 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Day One Biopharmaceuticals by 587.2% in the 1st quarter. Millennium Management LLC now owns 1,320,095 shares of the company's stock worth $10,468,000 after buying an additional 1,127,995 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Day One Biopharmaceuticals in the 4th quarter worth about $13,909,000. 87.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DAWN has been the topic of a number of research analyst reports. 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 research note on Wednesday, August 6th. HC Wainwright dropped their target price on shares of Day One Biopharmaceuticals from $36.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Piper Sandler started coverage on shares of Day One Biopharmaceuticals in a report on Monday. They issued an "overweight" rating and a $25.00 target price on the stock. Finally, Wedbush restated an "outperform" rating and issued a $25.00 target price on shares of Day One Biopharmaceuticals in a report on Wednesday, May 7th. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. According to data from MarketBeat, Day One Biopharmaceuticals has a consensus 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.

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