Day One Biopharmaceuticals (NASDAQ:DAWN) Sets New 1-Year Low - Time to Sell?

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $6.65 and last traded at $7.02, with a volume of 1362341 shares. The stock had previously closed at $7.22.

Wall Street Analyst Weigh In

Several research firms recently commented on DAWN. The Goldman Sachs Group cut their price target on shares of Day One Biopharmaceuticals from $39.00 to $27.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. Wedbush reaffirmed an "outperform" rating and set a $32.00 price target on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. HC Wainwright reissued a "buy" rating and issued a $36.00 price objective on shares of Day One Biopharmaceuticals in a research report on Thursday, April 3rd. Bank of America decreased their target price on 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. Finally, JPMorgan Chase & Co. dropped their target price on Day One Biopharmaceuticals from $39.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $32.29.

Day One Biopharmaceuticals Price Performance

The firm has a market capitalization of $721.65 million, a PE ratio of -6.91 and a beta of -1.24. The stock has a 50-day moving average price of $9.33 and a 200-day moving average price of $12.05.

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Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last announced its earnings results on Tuesday, February 25th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.35) by ($0.34). The business had revenue of $29.21 million during the quarter, compared to the consensus estimate of $27.11 million. As a group, equities research analysts predict that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

Insider Activity at Day One Biopharmaceuticals

In other news, CEO Jeremy Bender sold 12,048 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $144,094.08. Following the sale, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Adam Dubow sold 4,646 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total transaction of $55,566.16. Following the transaction, the general counsel now directly owns 39,602 shares in the company, valued at $473,639.92. The trade was a 10.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,064 shares of company stock valued at $251,925 over the last ninety days. Corporate insiders own 8.40% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. GF Fund Management CO. LTD. bought a new position in shares of Day One Biopharmaceuticals during the fourth quarter valued at approximately $27,000. R Squared Ltd bought a new position in Day One Biopharmaceuticals during the 4th quarter worth $31,000. Tower Research Capital LLC TRC increased its position in Day One Biopharmaceuticals by 911.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,657 shares of the company's stock worth $135,000 after buying an additional 9,603 shares during the period. E Fund Management Co. Ltd. bought a new stake in Day One Biopharmaceuticals in the fourth quarter valued at $143,000. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Day One Biopharmaceuticals during the fourth quarter valued at $150,000. Institutional investors and hedge funds own 87.95% 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.