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

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 firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $6.77, for a total transaction of $25,495.82. Following the completion of the sale, the insider owned 41,931 shares of the company's stock, valued at $283,872.87. This trade represents a 8.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Day One Biopharmaceuticals Price Performance

Shares of Day One Biopharmaceuticals stock traded up $0.22 during trading on Friday, hitting $7.20. The stock had a trading volume of 1,648,230 shares, compared to its average volume of 2,114,697. The firm's fifty day simple moving average is $6.63 and its 200-day simple moving average is $7.57. The stock has a market cap of $737.50 million, a PE ratio of -7.58 and a beta of -1.26. Day One Biopharmaceuticals, Inc. has a 12 month low of $5.64 and a 12 month high of $16.76.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings 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 valued at $47,130,000 after purchasing an additional 94,320 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Day One Biopharmaceuticals by 2.0% in the 2nd quarter. Franklin Resources Inc. now owns 4,097,625 shares of the company's stock valued at $26,635,000 after purchasing an additional 79,255 shares in the last quarter. Alyeska Investment Group L.P. raised its holdings in shares of Day One Biopharmaceuticals by 61.6% in the 1st quarter. Alyeska Investment Group L.P. now owns 4,059,764 shares of the company's stock valued at $32,194,000 after purchasing an additional 1,547,577 shares in the last quarter. Estuary Capital Management LP raised its holdings in shares of Day One Biopharmaceuticals by 35.5% in the 4th 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 in the last quarter. Finally, Vestal Point Capital LP raised its holdings in shares of Day One Biopharmaceuticals by 15.5% in the 2nd quarter. Vestal Point Capital LP now owns 3,000,000 shares of the company's stock valued at $19,500,000 after purchasing an additional 401,873 shares in the last quarter. Institutional investors own 87.95% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on DAWN. Wedbush reaffirmed an "outperform" rating and issued a $25.00 price target on shares of Day One Biopharmaceuticals in a research note on Wednesday, May 7th. 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 note on Wednesday, August 6th. Piper Sandler began coverage on shares of Day One Biopharmaceuticals in a research note on Monday, August 18th. They issued an "overweight" rating and a $25.00 price target on the stock. Finally, 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 note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and an average 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.