Day One Biopharmaceuticals (NASDAQ:DAWN) CFO Sells $36,192.42 in Stock

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) CFO Charles York II sold 4,062 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $8.91, for a total value of $36,192.42. Following the completion of the transaction, the chief financial officer directly owned 294,715 shares of the company’s stock, valued at $2,625,910.65. This represents a 1.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Day One Biopharmaceuticals Trading Down 3.1%

DAWN stock traded down $0.27 during midday trading on Tuesday, hitting $8.57. 1,531,756 shares of the company’s stock were exchanged, compared to its average volume of 1,496,830. The firm has a 50 day moving average price of $7.63 and a 200-day moving average price of $7.05. The stock has a market capitalization of $879.97 million, a price-to-earnings ratio of -5.64 and a beta of -1.25. Day One Biopharmaceuticals, Inc. has a 12-month low of $5.64 and a 12-month high of $14.46.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.09. The firm had revenue of $39.80 million for the quarter, compared to the consensus estimate of $38.20 million. Day One Biopharmaceuticals had a negative net margin of 113.53% and a negative return on equity of 32.05%. The firm’s revenue was down 57.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 EPS. On average, sell-side analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the stock. Rubric Capital Management LP purchased a new position in Day One Biopharmaceuticals in the third quarter valued at about $23,808,000. Alyeska Investment Group L.P. boosted its position in Day One Biopharmaceuticals by 61.6% during the first quarter. Alyeska Investment Group L.P. now owns 4,059,764 shares of the company’s stock worth $32,194,000 after purchasing an additional 1,547,577 shares during the period. AIGH Capital Management LLC acquired a new position in Day One Biopharmaceuticals in the 3rd quarter valued at $10,719,000. Mak Capital One LLC bought a new position in shares of Day One Biopharmaceuticals in the third quarter worth about $10,212,000. Finally, Balyasny Asset Management L.P. bought a new position in Day One Biopharmaceuticals in the 3rd quarter worth approximately $9,758,000. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DAWN has been the topic of several research analyst reports. Needham & Company LLC reduced their price objective on Day One Biopharmaceuticals from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Piper Sandler increased their price objective on Day One Biopharmaceuticals from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Weiss Ratings restated a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research note on Thursday, October 30th. Zacks Research upgraded shares of Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Finally, HC Wainwright lowered 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 research note on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.43.

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.