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

Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) saw unusually-strong trading volume on Thursday . Approximately 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.

Analysts Set New Price Targets

Several research analysts have commented on DAWN shares. Piper Sandler restated an “overweight” rating and issued a $40.00 target price on shares of Day One Biopharmaceuticals in a research report on Tuesday, March 26th. Oppenheimer restated a “market perform” rating on shares of Day One Biopharmaceuticals in a research report on Tuesday, February 27th. Finally, The Goldman Sachs Group decreased 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 report on Tuesday, February 27th. One investment 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.60.

Day One Biopharmaceuticals Price Performance

The business has a fifty day moving average of $15.22 and a 200-day moving average of $13.70. The stock 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 released its quarterly earnings data on Monday, February 26th. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.07). As a group, research analysts anticipate that Day One Biopharmaceuticals, Inc. will post -2.66 EPS for the current year.

Insider Activity

In related news, insider Samuel C. Blackman sold 2,258 shares of the company’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.25, for a total transaction of $34,434.50. Following the transaction, the insider now directly owns 1,244,662 shares of the company’s stock, valued at $18,981,095.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Samuel C. Blackman sold 20,000 shares of Day One Biopharmaceuticals stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $16.11, for a total transaction of $322,200.00. Following the completion of the sale, the insider now directly owns 1,224,662 shares in the company, valued at approximately $19,729,304.82. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Samuel C. Blackman sold 2,258 shares of Day One Biopharmaceuticals stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.25, for a total value of $34,434.50. Following the sale, the insider now owns 1,244,662 shares of the company’s stock, valued at $18,981,095.50. The disclosure for this sale can be found here. Insiders have sold 45,781 shares of company stock worth $722,960 over the last 90 days. 8.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Quest Partners LLC bought a new position in shares of Day One Biopharmaceuticals in the fourth quarter worth about $29,000. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Day One Biopharmaceuticals by 130.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,226 shares of the company’s stock worth $27,000 after acquiring an additional 1,262 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Day One Biopharmaceuticals in the 2nd quarter worth approximately $51,000. Quintet Private Bank Europe S.A. boosted its holdings in shares of Day One Biopharmaceuticals by 43.2% in the 4th quarter. Quintet Private Bank Europe S.A. now owns 3,313 shares of the company’s stock worth $48,000 after acquiring an additional 1,000 shares in the last quarter. Finally, UBS Group AG acquired a new position in shares of Day One Biopharmaceuticals in the 2nd quarter worth approximately $69,000. 87.95% of the stock is owned by institutional investors.

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.