Day One Biopharmaceuticals (NASDAQ:DAWN) Trading Down 4.7%

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report) dropped 4.7% during mid-day trading on Friday . The company traded as low as $14.73 and last traded at $15.01. Approximately 384,877 shares changed hands during trading, a decline of 39% from the average daily volume of 631,468 shares. The stock had previously closed at $15.75.

Wall Street Analysts Forecast Growth

DAWN has been the topic of a number of recent analyst reports. Oppenheimer reissued a "market perform" rating on shares of Day One Biopharmaceuticals in a report on Tuesday, February 27th. The Goldman Sachs Group decreased their price objective on shares of Day One Biopharmaceuticals from $50.00 to $44.00 and set a "buy" rating on the stock in a report on Tuesday, February 27th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $40.00 price objective on shares of Day One Biopharmaceuticals in a report on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Day One Biopharmaceuticals presently has an average rating of "Moderate Buy" and a consensus price target of $40.60.

Day One Biopharmaceuticals Stock Down 5.0 %

The stock's 50-day moving average price is $15.22 and its 200 day moving average price is $13.70. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of -6.29 and a beta of -1.48.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last released its quarterly earnings data on Monday, February 26th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). On average, sell-side analysts anticipate that Day One Biopharmaceuticals, Inc. will post -2.66 earnings per share for the current year.

Insider Buying and Selling

In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 20,000 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $16.11, for a total transaction of $322,200.00. Following the completion of the transaction, the insider now owns 1,224,662 shares of the company's stock, valued at $19,729,304.82. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Charles N. York II sold 2,666 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 value of $40,656.50. Following the completion of the transaction, the chief financial officer now owns 277,754 shares in the company, valued at $4,235,748.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samuel C. Blackman sold 20,000 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $16.11, for a total transaction of $322,200.00. Following the completion of the transaction, the insider now owns 1,224,662 shares of the company's stock, valued at approximately $19,729,304.82. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,781 shares of company stock worth $722,960. Insiders own 8.40% of the company's stock.

Institutional Trading of Day One Biopharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DAWN. Bank of New York Mellon Corp raised its holdings in Day One Biopharmaceuticals by 78.3% during the first quarter. Bank of New York Mellon Corp now owns 57,490 shares of the company's stock worth $570,000 after purchasing an additional 25,250 shares in the last quarter. MetLife Investment Management LLC acquired a new position in shares of Day One Biopharmaceuticals in the 1st quarter valued at $154,000. Rhumbline Advisers acquired a new position in shares of Day One Biopharmaceuticals in the 1st quarter valued at $193,000. BlackRock Inc. increased its holdings in shares of Day One Biopharmaceuticals by 54.6% in the 1st quarter. BlackRock Inc. now owns 1,162,916 shares of the company's stock valued at $11,537,000 after acquiring an additional 410,797 shares during the period. Finally, American International Group Inc. increased its stake in Day One Biopharmaceuticals by 92.7% in the 1st quarter. American International Group Inc. now owns 11,294 shares of the company's stock valued at $112,000 after buying an additional 5,434 shares during the period. Institutional investors and hedge funds 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.