Day One Biopharmaceuticals (NASDAQ:DAWN) Sets New 52-Week Low Following Weak Earnings

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

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Needham & Company LLC reissued a “buy” rating and set a $32.00 price target on shares of Day One Biopharmaceuticals in a research note on Wednesday. The Goldman Sachs Group decreased their price target on Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Bank of America decreased their price target on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. TD Cowen raised Day One Biopharmaceuticals to a “strong-buy” rating in a research note on Monday, November 4th. Finally, Wedbush reaffirmed an “outperform” rating and set a $32.00 target price on shares of Day One Biopharmaceuticals in a research report on Wednesday. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $34.86.

Insider Buying and Selling at Day One Biopharmaceuticals

In other news, insider Samuel C. Blackman sold 30,000 shares of Day One Biopharmaceuticals 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 transaction, the insider now directly owns 1,034,015 shares in the company, valued at approximately $13,762,739.65. This trade represents a 2.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Adam Dubow sold 4,646 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $55,566.16. Following the completion of the transaction, the general counsel now owns 39,602 shares in the company, valued at $473,639.92. This represents a 10.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,064 shares of company stock valued at $651,225 in the last ninety days. Corporate insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. GF Fund Management CO. LTD. purchased a new position in shares of Day One Biopharmaceuticals in the 4th quarter valued at $27,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Day One Biopharmaceuticals by 15.9% during the 4th 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 buying an additional 10,386 shares during the last quarter. Squarepoint Ops LLC purchased a new position in Day One Biopharmaceuticals during the 4th quarter worth $380,000. Stonepine Capital Management LLC grew its stake in Day One Biopharmaceuticals by 14.3% during the 4th quarter. Stonepine Capital Management LLC now owns 235,000 shares of the company’s stock worth $2,977,000 after buying an additional 29,325 shares during the last quarter. Finally, Tema Etfs LLC purchased a new position in Day One Biopharmaceuticals during the 4th quarter worth $1,087,000. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Day One Biopharmaceuticals Stock Performance

The company has a 50 day moving average of $12.23 and a two-hundred day moving average of $13.41. The stock has a market capitalization of $951.99 million, a PE ratio of -9.17 and a beta of -1.46.

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.