Day One Biopharmaceuticals (NASDAQ:DAWN) Stock Price Down 5.5% on Analyst Downgrade

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s share price fell 5.5% during mid-day trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $39.00 to $34.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Day One Biopharmaceuticals traded as low as $8.97 and last traded at $9.17. 108,005 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 1,181,862 shares. The stock had previously closed at $9.70.

A number of other equities research analysts have also issued reports on DAWN. HC Wainwright cut their price target on shares of Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and issued a $32.00 target price on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. The Goldman Sachs Group lowered their price target on 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. Wedbush reiterated an “outperform” rating and issued a $32.00 price objective on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. Finally, Bank of America reduced their target price on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $34.57.

Insider Buying and Selling at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, CEO Jeremy Bender sold 12,048 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total value of $144,094.08. Following the completion of the transaction, the chief executive officer now owns 128,015 shares in the company, valued at approximately $1,531,059.40. This 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 can be accessed through this link. Also, insider Samuel C. Blackman sold 30,000 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $13.31, for a total value of $399,300.00. Following the transaction, the insider now directly owns 1,034,015 shares of the company’s stock, valued at $13,762,739.65. This represents a 2.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,064 shares of company stock valued at $651,225. 8.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Day One Biopharmaceuticals by 38.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,611 shares of the company’s stock valued at $51,000 after purchasing an additional 1,002 shares in the last quarter. TimesSquare Capital Management LLC grew its stake in shares of Day One Biopharmaceuticals by 8.2% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,827,695 shares of the company’s stock worth $25,460,000 after buying an additional 139,160 shares during the last quarter. GSA Capital Partners LLP bought a new position in Day One Biopharmaceuticals during the 3rd quarter valued at approximately $825,000. Quest Partners LLC raised its stake in Day One Biopharmaceuticals by 9,238.6% during the third quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock valued at $108,000 after buying an additional 7,668 shares during the last quarter. Finally, First Turn Management LLC bought a new stake in Day One Biopharmaceuticals in the third quarter worth $13,204,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

Day One Biopharmaceuticals Price Performance

The stock has a market capitalization of $930.34 million, a PE ratio of -8.90 and a beta of -1.46. The business has a 50 day moving average price of $11.93 and a 200 day moving average price of $13.27.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.69) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.34). The company had revenue of $29.21 million for the quarter, compared to the consensus estimate of $27.11 million. On average, equities analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current year.

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.