Day One Biopharmaceuticals (NASDAQ:DAWN) Sees Strong Trading Volume

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) shares saw strong trading volume on Thursday . 1,088,336 shares were traded during mid-day trading, an increase of 75% from the previous session’s volume of 622,865 shares.The stock last traded at $16.01 and had previously closed at $14.85.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Oppenheimer restated a “market perform” rating on shares of Day One Biopharmaceuticals in a research report on Tuesday, February 27th. The Goldman Sachs Group reduced their price objective on shares of Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Finally, Piper Sandler restated an “overweight” rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a research report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Day One Biopharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.60.

Day One Biopharmaceuticals Stock Performance

The stock’s 50-day moving average price is $15.22 and its 200-day moving average price is $13.70. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -6.29 and a beta of -1.48.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings data on Monday, February 26th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). Analysts anticipate that Day One Biopharmaceuticals, Inc. will post -2.66 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jeremy Bender sold 7,615 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.25, for a total transaction of $116,128.75. Following the completion of the transaction, the chief executive officer now directly owns 721,813 shares in the company, valued at approximately $11,007,648.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Day One Biopharmaceuticals news, CEO Jeremy Bender sold 7,615 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.25, for a total value of $116,128.75. Following the completion of the sale, the chief executive officer now directly owns 721,813 shares of the company’s stock, valued at approximately $11,007,648.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Adam Dubow sold 3,242 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $15.25, for a total transaction of $49,440.50. Following the completion of the sale, the general counsel now directly owns 16,585 shares of the company’s stock, valued at $252,921.25. The disclosure for this sale can be found here. Insiders sold 45,781 shares of company stock worth $722,960 in the last ninety days. Insiders own 8.40% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. grew its stake in Day One Biopharmaceuticals by 2.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 59,289 shares of the company’s stock worth $979,000 after acquiring an additional 1,445 shares during the period. Vanguard Group Inc. grew its stake in Day One Biopharmaceuticals by 3.0% in the 4th quarter. Vanguard Group Inc. now owns 4,769,746 shares of the company’s stock worth $69,638,000 after acquiring an additional 139,992 shares during the period. Fisher Asset Management LLC grew its stake in Day One Biopharmaceuticals by 89.0% in the 4th quarter. Fisher Asset Management LLC now owns 68,446 shares of the company’s stock worth $999,000 after acquiring an additional 32,238 shares during the period. Wellington Management Group LLP grew its stake in Day One Biopharmaceuticals by 77.7% in the 4th quarter. Wellington Management Group LLP now owns 208,969 shares of the company’s stock worth $3,051,000 after acquiring an additional 91,393 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in shares of Day One Biopharmaceuticals by 28.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,118,849 shares of the company’s stock valued at $30,935,000 after buying an additional 472,654 shares during the period. 87.95% of the stock is owned by hedge funds and other institutional investors.

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.