Day One Biopharmaceuticals (NASDAQ:DAWN) Shares Gap Up After Earnings Beat

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report) gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $14.47, but opened at $15.93. Day One Biopharmaceuticals shares last traded at $14.64, with a volume of 442,443 shares changing hands.

The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.58. The company had revenue of $93.76 million for the quarter, compared to the consensus estimate of $15.05 million. During the same period in the prior year, the firm posted ($0.54) EPS.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their price target on shares of Day One Biopharmaceuticals from $38.00 to $36.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 6th. Wedbush restated an "outperform" rating and set a $33.00 target price on shares of Day One Biopharmaceuticals in a research report on Thursday, July 25th. Piper Sandler reiterated an "overweight" rating and issued a $40.00 price target on shares of Day One Biopharmaceuticals in a research report on Monday, July 8th. Needham & Company LLC reissued a "buy" rating and set a $33.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $35.71.

Insider Activity at Day One Biopharmaceuticals

In other news, insider Samuel C. Blackman sold 2,232 shares of the business's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $14.00, for a total transaction of $31,248.00. Following the completion of the sale, the insider now directly owns 1,127,535 shares of the company's stock, valued at approximately $15,785,490. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Samuel C. Blackman sold 30,000 shares of the business's stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $14.22, for a total value of $426,600.00. Following the completion of the sale, the insider now owns 1,097,535 shares in the company, valued at approximately $15,606,947.70. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Samuel C. Blackman sold 2,232 shares of the business's stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $14.00, for a total transaction of $31,248.00. Following the completion of the transaction, the insider now directly owns 1,127,535 shares of the company's stock, valued at $15,785,490. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,748 shares of company stock worth $689,072 in the last quarter. 8.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Day One Biopharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its position 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 buying an additional 1,002 shares during the last quarter. ProShare Advisors LLC boosted its stake in Day One Biopharmaceuticals by 9.1% in the first quarter. ProShare Advisors LLC now owns 17,379 shares of the company's stock valued at $287,000 after acquiring an additional 1,447 shares in the last quarter. SteelPeak Wealth LLC grew its holdings in Day One Biopharmaceuticals by 9.8% in the third quarter. SteelPeak Wealth LLC now owns 17,400 shares of the company's stock worth $242,000 after purchasing an additional 1,550 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Day One Biopharmaceuticals by 16.9% during the third quarter. Handelsbanken Fonder AB now owns 27,000 shares of the company's stock worth $376,000 after purchasing an additional 3,900 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. boosted its position in shares of Day One Biopharmaceuticals by 8.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 64,359 shares of the company's stock worth $887,000 after purchasing an additional 5,070 shares in the last quarter. Institutional investors own 87.95% of the company's stock.

Day One Biopharmaceuticals Trading Up 1.7 %

The stock has a 50-day moving average price of $14.16 and a two-hundred day moving average price of $14.38. The stock has a market cap of $1.29 billion, a price-to-earnings ratio of -7.42 and a beta of -1.51.

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.