Day One Biopharmaceuticals (NASDAQ:DAWN) Reaches New 12-Month Low Following Weak Earnings

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)’s share price reached a new 52-week low during trading on Wednesday following a dissappointing earnings announcement. The company traded as low as $10.06 and last traded at $10.54, with a volume of 436845 shares trading hands. The stock had previously closed at $11.82.

The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.34). The firm had revenue of $29.21 million during the quarter, compared to analyst estimates of $27.11 million.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and set a $32.00 price objective on shares of Day One Biopharmaceuticals in a research note on Wednesday. The Goldman Sachs Group lowered their price objective on shares of Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating for the company in a research report on Monday, February 10th. TD Cowen raised Day One Biopharmaceuticals to a “strong-buy” rating in a research note on Monday, November 4th. Bank of America dropped their price target on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Finally, HC Wainwright lowered their target price on Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $35.00.

Insider Buying and Selling

In related news, insider Samuel C. Blackman sold 30,000 shares of the stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $13.31, for a total value of $399,300.00. Following the sale, the insider now owns 1,034,015 shares in the company, valued at approximately $13,762,739.65. This represents a 2.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeremy Bender sold 12,048 shares of the firm’s stock in a transaction on 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 directly owns 128,015 shares of the company’s stock, valued at $1,531,059.40. This represents a 8.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,064 shares of company stock worth $651,225. Company insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several large investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. bought a new stake in shares of Day One Biopharmaceuticals during the 4th quarter worth about $27,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Day One Biopharmaceuticals by 15.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,579 shares of the company’s stock worth $958,000 after acquiring an additional 10,386 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Day One Biopharmaceuticals during the fourth quarter worth approximately $380,000. Stonepine Capital Management LLC boosted its holdings in shares of Day One Biopharmaceuticals by 14.3% during the fourth quarter. Stonepine Capital Management LLC now owns 235,000 shares of the company’s stock worth $2,977,000 after acquiring an additional 29,325 shares during the period. Finally, Tema Etfs LLC acquired a new position in shares of Day One Biopharmaceuticals in the fourth quarter valued at approximately $1,087,000. 87.95% of the stock is owned by institutional investors.

Day One Biopharmaceuticals Stock Down 11.0 %

The company has a market cap of $1.06 billion, a P/E ratio of -10.21 and a beta of -1.46. The stock has a 50 day moving average price of $12.34 and a two-hundred day moving average price of $13.46.

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.