Day One Biopharmaceuticals (NASDAQ:DAWN) Shares Gap Down on Insider Selling

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report)'s stock price gapped down prior to trading on Monday following insider selling activity. The stock had previously closed at $17.17, but opened at $16.68. Day One Biopharmaceuticals shares last traded at $16.95, with a volume of 180,297 shares changing hands.

Specifically, insider Samuel C. Blackman sold 2,258 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.25, for a total transaction of $34,434.50. Following the transaction, the insider now directly owns 1,244,662 shares of the company's stock, valued at $18,981,095.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Samuel C. Blackman sold 2,258 shares of the business's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.25, for a total value of $34,434.50. Following the completion of the sale, the insider now owns 1,244,662 shares of the company's stock, valued at approximately $18,981,095.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Charles N. York II sold 8,078 shares of the business's stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $17.85, for a total value of $144,192.30. Following the completion of the sale, the chief financial officer now owns 217,293 shares of the company's stock, valued at approximately $3,878,680.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 195,247 shares of company stock worth $3,376,817. 8.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

DAWN has been the subject of several research analyst reports. Needham & Company LLC lifted their price objective on Day One Biopharmaceuticals from $30.00 to $33.00 and gave the stock a "buy" rating in a report on Wednesday, April 24th. The Goldman Sachs Group dropped their price target on Day One Biopharmaceuticals from $50.00 to $44.00 and set a "buy" rating on the stock in a research note on Tuesday, February 27th. Piper Sandler reiterated an "overweight" rating and set a $40.00 price objective on shares of Day One Biopharmaceuticals in a research report on Tuesday, March 26th. JPMorgan Chase & Co. raised their target price on Day One Biopharmaceuticals from $32.00 to $36.00 and gave the stock an "overweight" rating in a research report on Monday, April 22nd. Finally, Oppenheimer reiterated a "market perform" rating on shares of Day One Biopharmaceuticals in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $39.33.

Day One Biopharmaceuticals Price Performance

The company has a 50-day simple moving average of $15.45 and a 200-day simple moving average of $14.07. The firm has a market cap of $1.45 billion, a PE ratio of -6.99 and a beta of -1.44.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last issued its earnings results on Monday, February 26th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.57) by ($0.07). As a group, equities research analysts predict that Day One Biopharmaceuticals, Inc. will post -2.67 earnings per share for the current year.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. China Universal Asset Management Co. Ltd. increased its holdings in shares of Day One Biopharmaceuticals by 67.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 16,817 shares of the company's stock valued at $278,000 after purchasing an additional 6,750 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of Day One Biopharmaceuticals by 2.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 59,289 shares of the company's stock valued at $979,000 after purchasing an additional 1,445 shares in the last quarter. Fisher Asset Management LLC boosted its position in Day One Biopharmaceuticals by 89.0% during the fourth quarter. Fisher Asset Management LLC now owns 68,446 shares of the company's stock worth $999,000 after purchasing an additional 32,238 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Day One Biopharmaceuticals by 77.7% during the 4th quarter. Wellington Management Group LLP now owns 208,969 shares of the company's stock valued at $3,051,000 after buying an additional 91,393 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Day One Biopharmaceuticals by 28.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,118,849 shares of the company's stock valued at $30,935,000 after purchasing an additional 472,654 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company's stock.

About Day One Biopharmaceuticals

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.