Insider Selling: Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) CEO Sells $144,094.08 in Stock

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) CEO Jeremy Bender sold 12,048 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total transaction of $144,094.08. Following the transaction, the chief executive officer now directly owns 128,015 shares of the company’s stock, valued at approximately $1,531,059.40. This trade represents a 8.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Day One Biopharmaceuticals Stock Performance

Shares of Day One Biopharmaceuticals stock opened at $12.43 on Monday. The firm has a 50-day moving average of $12.37 and a 200-day moving average of $13.48. The stock has a market cap of $1.25 billion, a PE ratio of -12.07 and a beta of -1.46. Day One Biopharmaceuticals, Inc. has a 52-week low of $11.13 and a 52-week high of $18.07.

Wall Street Analysts Forecast Growth

DAWN has been the subject of a number of research analyst reports. Bank of America reduced their price objective on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group reduced their price objective on shares of Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, February 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price objective on shares of Day One Biopharmaceuticals in a research report on Monday, January 13th. TD Cowen raised shares of Day One Biopharmaceuticals to a “strong-buy” rating in a research report on Monday, November 4th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $40.00 price objective on shares of Day One Biopharmaceuticals in a research report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $35.71.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DAWN. FMR LLC raised its stake in Day One Biopharmaceuticals by 73.9% in the fourth quarter. FMR LLC now owns 12,887,467 shares of the company’s stock valued at $163,284,000 after purchasing an additional 5,475,087 shares in the last quarter. Alyeska Investment Group L.P. acquired a new position in Day One Biopharmaceuticals in the fourth quarter valued at about $31,829,000. Braidwell LP raised its stake in Day One Biopharmaceuticals by 60.5% in the third quarter. Braidwell LP now owns 4,873,853 shares of the company’s stock valued at $67,893,000 after purchasing an additional 1,837,949 shares in the last quarter. Vestal Point Capital LP raised its stake in Day One Biopharmaceuticals by 100.0% in the third quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company’s stock valued at $34,825,000 after purchasing an additional 1,250,000 shares in the last quarter. Finally, Boxer Capital Management LLC acquired a new position in Day One Biopharmaceuticals in the fourth quarter valued at about $15,077,000. 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.