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

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) 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 trading hands.

Specifically, CEO Jeremy Bender sold 9,154 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.85, for a total value of $163,398.90. Following the completion of the transaction, the chief executive officer now owns 642,602 shares in the company, valued at approximately $11,470,445.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Day One Biopharmaceuticals news, CEO Jeremy Bender sold 9,154 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $17.85, for a total value of $163,398.90. Following the completion of the sale, the chief executive officer now directly owns 642,602 shares of the company’s stock, valued at approximately $11,470,445.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, General Counsel Adam Dubow sold 3,242 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.25, for a total transaction of $49,440.50. Following the completion of the sale, the general counsel now directly owns 16,585 shares of the company’s stock, valued at $252,921.25. The disclosure for this sale can be found here. In the last three months, insiders sold 195,247 shares of company stock valued at $3,376,817. Company insiders own 8.40% of the company’s stock.

Wall Street Analysts Forecast Growth

DAWN has been the topic of a number of research reports. Needham & Company LLC increased 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. HC Wainwright reiterated a “buy” rating and set a $50.00 price target on shares of Day One Biopharmaceuticals in a report on Wednesday, April 24th. Wedbush reiterated an “outperform” rating and set a $33.00 price target on shares of Day One Biopharmaceuticals in a report on Wednesday, April 24th. Piper Sandler reiterated an “overweight” rating and set a $40.00 price target on shares of Day One Biopharmaceuticals in a report on Tuesday, March 26th. Finally, The Goldman Sachs Group reduced their target price on Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Day One Biopharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $39.33.

Day One Biopharmaceuticals Stock Down 3.3 %

The stock has a market cap of $1.45 billion, a P/E ratio of -6.97 and a beta of -1.44. The stock has a fifty day simple moving average of $15.45 and a 200-day simple moving average of $14.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings data on Monday, February 26th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.07). Sell-side analysts anticipate that Day One Biopharmaceuticals, Inc. will post -2.67 earnings per share for the current year.

Institutional Trading of Day One Biopharmaceuticals

A number of hedge funds have recently made changes to their positions in the business. First Turn Management LLC acquired a new position in Day One Biopharmaceuticals in the 4th quarter valued at $24,834,000. TimesSquare Capital Management LLC grew its holdings in shares of Day One Biopharmaceuticals by 45.8% during the 4th quarter. TimesSquare Capital Management LLC now owns 1,666,065 shares of the company’s stock worth $24,325,000 after purchasing an additional 523,455 shares in the last quarter. Braidwell LP grew its holdings in shares of Day One Biopharmaceuticals by 13.5% during the 4th quarter. Braidwell LP now owns 4,215,573 shares of the company’s stock worth $61,547,000 after purchasing an additional 500,000 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Day One Biopharmaceuticals by 28.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,118,849 shares of the company’s stock worth $30,935,000 after purchasing an additional 472,654 shares in the last quarter. Finally, Superstring Capital Management LP acquired a new stake in shares of Day One Biopharmaceuticals during the 4th quarter worth $5,543,000. 87.95% of the stock is owned by institutional investors and hedge funds.

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.