Day One Biopharmaceuticals (NASDAQ:DAWN) Insider Lauren Merendino Sells 5,814 Shares

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) insider Lauren Merendino sold 5,814 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $11.60, for a total transaction of $67,442.40. Following the completion of the sale, the insider owned 60,157 shares of the company’s stock, valued at approximately $697,821.20. This represents a 8.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Day One Biopharmaceuticals Stock Performance

Shares of DAWN opened at $11.56 on Thursday. Day One Biopharmaceuticals, Inc. has a 52 week low of $5.64 and a 52 week high of $13.20. The firm’s 50-day simple moving average is $10.34 and its 200 day simple moving average is $8.57. The firm has a market cap of $1.19 billion, a P/E ratio of -7.61 and a beta of -1.26.

Key Day One Biopharmaceuticals News

Here are the key news stories impacting Day One Biopharmaceuticals this week:

• Neutral Sentiment: Short-interest data appears to contain reporting errors and shows effectively zero short interest as of Feb. 17, producing no clear bearish or bullish signal to the market; treat this figure with caution.
• Negative Sentiment: Multiple insider sales by senior executives on Feb. 17 — CEO Jeremy Bender sold 15,459 shares at $11.60 (disclosed in an SEC Form 4), CFO Charles N. York II sold 6,065 shares at $11.60, and other insiders (Adam Dubow, Lauren Merendino, Michael Vasconcelles) also sold stock at roughly $11.60 per share. These aggregated insider reductions (some single-digit to double-digit percentage drops in individual holdings) can be perceived negatively by investors as reduced insider exposure. CEO Form 4 CFO Form 4 Insider Form 4
• Negative Sentiment: Zacks preview flags that Day One may not have the setup for an earnings beat in its upcoming report, implying analysts expect a likely negative earnings surprise — news that can weigh on sentiment ahead of the release. Zacks preview

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DAWN. Federated Hermes Inc. bought a new position in shares of Day One Biopharmaceuticals in the third quarter worth approximately $39,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Day One Biopharmaceuticals by 26.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,989 shares of the company’s stock worth $46,000 after purchasing an additional 1,029 shares during the period. Ameritas Investment Partners Inc. raised its holdings in Day One Biopharmaceuticals by 44.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 7,349 shares of the company’s stock valued at $48,000 after buying an additional 2,264 shares during the last quarter. Quarry LP purchased a new stake in shares of Day One Biopharmaceuticals during the third quarter worth about $49,000. Finally, Entropy Technologies LP bought a new stake in shares of Day One Biopharmaceuticals in the 2nd quarter worth approximately $67,000. 87.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Day One Biopharmaceuticals from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, November 7th. HC Wainwright reiterated a “buy” rating and set a $25.00 price target on shares of Day One Biopharmaceuticals in a report on Monday, November 24th. Zacks Research upgraded shares of Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. TD Cowen began coverage on Day One Biopharmaceuticals in a research note on Tuesday, January 13th. They issued a “buy” rating and a $34.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price target on shares of Day One Biopharmaceuticals in a research report on Monday, November 24th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $25.71.

About Day One Biopharmaceuticals

Day One Biopharmaceuticals, Inc (NASDAQ: DAWN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted therapies for oncology. The company employs a precision medicine approach, leveraging biomarker-driven strategies to identify patient populations most likely to respond to its investigational compounds. By concentrating on well-validated molecular drivers of cancer, Day One seeks to deliver first-in-class or best-in-class therapies with the potential for meaningful clinical benefit.

The company’s pipeline includes several small-molecule candidates in various stages of development.