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 traded hands during 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

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

Day One Biopharmaceuticals Trading Up 6.1 %

The business’s fifty day simple moving average is $15.23 and its 200 day simple moving average is $13.67. The stock has a market cap of $1.38 billion, a P/E ratio of -6.64 and a beta of -1.48.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its earnings results on Monday, February 26th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.07). On average, analysts predict that Day One Biopharmaceuticals, Inc. will post -2.66 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Samuel C. Blackman sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $16.01, for a total transaction of $160,100.00. Following the completion of the sale, the insider now directly owns 1,184,662 shares of the company’s stock, valued at $18,966,438.62. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Samuel C. Blackman sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $16.01, for a total transaction of $160,100.00. Following the completion of the sale, the insider now directly owns 1,184,662 shares of the company’s stock, valued at $18,966,438.62. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Adam Dubow sold 3,242 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.25, for a total value of $49,440.50. Following the completion of the transaction, the general counsel now directly owns 16,585 shares in the company, valued at approximately $252,921.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 45,781 shares of company stock valued at $722,960. Company insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several hedge funds have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. lifted its stake in Day One Biopharmaceuticals by 2.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 59,289 shares of the company’s stock valued at $979,000 after buying an additional 1,445 shares during the period. Vanguard Group Inc. boosted its position in shares of Day One Biopharmaceuticals by 3.0% during the fourth quarter. Vanguard Group Inc. now owns 4,769,746 shares of the company’s stock worth $69,638,000 after purchasing an additional 139,992 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Day One Biopharmaceuticals by 89.0% during the fourth quarter. Fisher Asset Management LLC now owns 68,446 shares of the company’s stock worth $999,000 after purchasing an additional 32,238 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Day One Biopharmaceuticals by 77.7% during the fourth quarter. Wellington Management Group LLP now owns 208,969 shares of the company’s stock worth $3,051,000 after purchasing an additional 91,393 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in shares of Day One Biopharmaceuticals by 28.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,118,849 shares of the company’s stock worth $30,935,000 after purchasing an additional 472,654 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

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.