Day One Biopharmaceuticals (NASDAQ:DAWN) Announces Earnings Results, Misses Expectations By $0.34 EPS

Day One Biopharmaceuticals (NASDAQ:DAWN) released its quarterly earnings results on Tuesday. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.34), Zacks reports. The company had revenue of $29.21 million during the quarter, compared to analyst estimates of $27.11 million.

Day One Biopharmaceuticals Stock Performance

DAWN opened at $9.85 on Thursday. Day One Biopharmaceuticals has a 52-week low of $9.77 and a 52-week high of $18.07. The firm has a market capitalization of $992.83 million, a PE ratio of -9.56 and a beta of -1.46. The business’s 50-day simple moving average is $12.29 and its 200 day simple moving average is $13.44.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Bank of America dropped their price objective on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. The Goldman Sachs Group reduced their target price on Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating on the stock in a report on Monday, February 10th. HC Wainwright reduced their target price on Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating on the stock in a report on Wednesday. Wedbush reiterated an “outperform” rating and set a $32.00 target price on shares of Day One Biopharmaceuticals in a report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $32.00 price target on shares of Day One Biopharmaceuticals in a report on Wednesday. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $34.86.

Insider Buying and Selling

In related news, CEO Jeremy Bender sold 12,048 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total transaction of $144,094.08. Following the sale, the chief executive officer now owns 128,015 shares in the company, valued at approximately $1,531,059.40. This represents a 8.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Samuel C. Blackman sold 30,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $13.31, for a total value of $399,300.00. Following the sale, the insider now owns 1,034,015 shares in the company, valued at $13,762,739.65. The trade was a 2.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,064 shares of company stock worth $651,225. Corporate insiders own 8.40% 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.