Day One Biopharmaceuticals (NASDAQ:DAWN) Announces Quarterly Earnings Results

Day One Biopharmaceuticals (NASDAQ:DAWN) announced its quarterly earnings results on Tuesday. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.75) by $0.70, Yahoo Finance reports. The firm had revenue of $8.19 million during the quarter, compared to the consensus estimate of $0.90 million.

Day One Biopharmaceuticals Price Performance

NASDAQ:DAWN traded down $0.14 during mid-day trading on Thursday, hitting $14.17. 2,199,051 shares of the company’s stock were exchanged, compared to its average volume of 922,244. Day One Biopharmaceuticals has a one year low of $9.67 and a one year high of $18.07. The business has a fifty day moving average price of $14.00 and a 200 day moving average price of $14.84. The company has a market cap of $1.24 billion, a PE ratio of -6.14 and a beta of -1.51.

Analyst Upgrades and Downgrades

DAWN has been the subject of a number of research analyst reports. Piper Sandler reaffirmed an “overweight” rating and set a $40.00 price objective on shares of Day One Biopharmaceuticals in a report on Monday, July 8th. JPMorgan Chase & Co. lifted their price objective on shares of Day One Biopharmaceuticals from $32.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, April 22nd. Bank of America upgraded shares of Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and lifted their target price for the stock from $11.00 to $24.00 in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating and issued a $33.00 target price on shares of Day One Biopharmaceuticals in a research report on Tuesday. Finally, Wedbush reiterated an “outperform” rating and issued a $33.00 target price on shares of Day One Biopharmaceuticals in a research report on Thursday, July 25th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $35.71.

Insider Buying and Selling

In other news, insider Samuel C. Blackman sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $16.01, for a total value of $320,200.00. Following the transaction, the insider now owns 1,121,081 shares in the company, valued at $17,948,506.81. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Saira Ramasastry sold 10,000 shares of the stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $13.19, for a total transaction of $131,900.00. Following the transaction, the director now owns 40,485 shares in the company, valued at $533,997.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Samuel C. Blackman sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $16.01, for a total transaction of $320,200.00. Following the transaction, the insider now owns 1,121,081 shares in the company, valued at approximately $17,948,506.81. The disclosure for this sale can be found here. Insiders have sold 73,300 shares of company stock valued at $1,181,765 over the last quarter. Corporate insiders own 8.40% of the company’s stock.

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.