Lauren Merendino Sells 3,766 Shares of Day One Biopharmaceuticals (NASDAQ:DAWN) Stock

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) insider Lauren Merendino sold 3,766 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $6.77, for a total transaction of $25,495.82. Following the completion of the sale, the insider directly owned 41,931 shares of the company’s stock, valued at $283,872.87. The trade was a 8.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Day One Biopharmaceuticals Stock Performance

Shares of NASDAQ:DAWN opened at $6.81 on Thursday. The stock has a market capitalization of $697.55 million, a price-to-earnings ratio of -7.17 and a beta of -1.26. The company has a 50-day simple moving average of $6.61 and a 200-day simple moving average of $7.71. Day One Biopharmaceuticals, Inc. has a one year low of $5.64 and a one year high of $16.76.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its earnings results on Tuesday, August 5th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.06. The business had revenue of $33.91 million for the quarter, compared to the consensus estimate of $35.55 million. Day One Biopharmaceuticals had a negative net margin of 50.63% and a negative return on equity of 19.01%. As a group, research analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.

Analyst Ratings Changes

DAWN has been the topic of a number of research analyst reports. Piper Sandler initiated coverage on shares of Day One Biopharmaceuticals in a report on Monday. They set an “overweight” rating and a $25.00 price objective on the stock. Wedbush restated an “outperform” rating and issued a $25.00 target price on shares of Day One Biopharmaceuticals in a report on Wednesday, May 7th. HC Wainwright reduced their target price on shares of Day One Biopharmaceuticals from $36.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Finally, Needham & Company LLC lowered their price target on Day One Biopharmaceuticals from $18.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. According to data from MarketBeat.com, Day One Biopharmaceuticals currently has an average rating of “Buy” and a consensus target price of $25.29.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several large investors have recently modified their holdings of DAWN. Renaissance Technologies LLC lifted its position in shares of Day One Biopharmaceuticals by 157.0% during the fourth quarter. Renaissance Technologies LLC now owns 243,740 shares of the company’s stock worth $3,088,000 after purchasing an additional 148,900 shares during the last quarter. Marshall Wace LLP bought a new stake in Day One Biopharmaceuticals in the 4th quarter valued at about $13,909,000. Dimensional Fund Advisors LP lifted its position in Day One Biopharmaceuticals by 10.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 927,017 shares of the company’s stock valued at $11,745,000 after purchasing an additional 90,822 shares during the last quarter. MetLife Investment Management LLC grew its position in Day One Biopharmaceuticals by 12.4% in the 4th quarter. MetLife Investment Management LLC now owns 34,248 shares of the company’s stock valued at $434,000 after buying an additional 3,781 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in Day One Biopharmaceuticals by 911.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,657 shares of the company’s stock valued at $135,000 after buying an additional 9,603 shares in the last quarter. Institutional investors 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.