Day One Biopharmaceuticals (NASDAQ:DAWN) Announces Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Day One Biopharmaceuticals (NASDAQ:DAWN) released its earnings results on Tuesday. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.09, Zacks reports. Day One Biopharmaceuticals had a negative return on equity of 19.01% and a negative net margin of 50.63%.

Day One Biopharmaceuticals Price Performance

NASDAQ DAWN traded down $0.01 on Tuesday, reaching $7.30. 2,326,683 shares of the company’s stock traded hands, compared to its average volume of 1,359,929. The stock has a market cap of $747.74 million, a PE ratio of -7.68 and a beta of -1.25. Day One Biopharmaceuticals has a 12 month low of $5.64 and a 12 month high of $16.76. The stock has a 50-day simple moving average of $7.28 and a 200 day simple moving average of $6.93.

Insider Buying and Selling at Day One Biopharmaceuticals

In related news, insider Adam Dubow sold 4,365 shares of Day One Biopharmaceuticals stock in a transaction on Monday, August 18th. The shares were sold at an average price of $6.77, for a total value of $29,551.05. Following the transaction, the insider owned 54,858 shares in the company, valued at $371,388.66. This trade represents a 7.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lauren Merendino sold 3,766 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $6.77, for a total transaction of $25,495.82. Following the sale, the insider owned 41,931 shares of the company’s stock, valued at approximately $283,872.87. The trade was a 8.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,295 shares of company stock worth $191,557 in the last quarter. 6.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Day One Biopharmaceuticals

A number of large investors have recently bought and sold shares of the stock. Royal Bank of Canada boosted its stake in shares of Day One Biopharmaceuticals by 40.4% during the first quarter. Royal Bank of Canada now owns 185,733 shares of the company’s stock valued at $1,474,000 after purchasing an additional 53,459 shares during the period. AQR Capital Management LLC boosted its position in Day One Biopharmaceuticals by 601.4% during the 1st quarter. AQR Capital Management LLC now owns 618,627 shares of the company’s stock valued at $4,906,000 after buying an additional 530,429 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Day One Biopharmaceuticals by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,992 shares of the company’s stock worth $302,000 after acquiring an additional 2,149 shares during the last quarter. Millennium Management LLC increased its position in shares of Day One Biopharmaceuticals by 587.2% in the first quarter. Millennium Management LLC now owns 1,320,095 shares of the company’s stock valued at $10,468,000 after acquiring an additional 1,127,995 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Day One Biopharmaceuticals by 232.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,569,918 shares of the company’s stock valued at $12,449,000 after acquiring an additional 1,097,679 shares during the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DAWN shares. Needham & Company LLC dropped their price objective on shares of Day One Biopharmaceuticals from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research report on Thursday, October 30th. Zacks Research upgraded shares of Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Piper Sandler initiated coverage on shares of Day One Biopharmaceuticals in a report on Monday, August 18th. They issued an “overweight” rating and a $25.00 price objective for the company. Finally, HC Wainwright lowered their target price on shares of Day One Biopharmaceuticals from $36.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Day One Biopharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $25.29.

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.