Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN – Get Rating)’s share price gapped up prior to trading on Tuesday following insider buying activity. The stock had previously closed at $12.54, but opened at $13.00. Day One Biopharmaceuticals shares last traded at $13.56, with a volume of 197,640 shares trading hands.
Specifically, CEO Jeremy Bender sold 3,104 shares of the firm’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $13.12, for a total transaction of $40,724.48. Following the completion of the sale, the chief executive officer now directly owns 1,179,484 shares in the company, valued at approximately $15,474,830.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, major shareholder Ai Day1 Llc purchased 769,230 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were purchased at an average price of $13.00 per share, with a total value of $9,999,990.00. Following the acquisition, the insider now directly owns 11,453,868 shares in the company, valued at approximately $148,900,284. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jeremy Bender sold 3,104 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $13.12, for a total transaction of $40,724.48. Following the completion of the transaction, the chief executive officer now directly owns 1,179,484 shares in the company, valued at approximately $15,474,830.08. The disclosure for this sale can be found here. Insiders sold a total of 5,980 shares of company stock worth $81,997 in the last three months. 8.80% of the stock is owned by corporate insiders.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on DAWN shares. Bank of America downgraded shares of Day One Biopharmaceuticals from a “buy” rating to an “underperform” rating in a report on Tuesday, April 25th. Needham & Company LLC reduced their price target on shares of Day One Biopharmaceuticals from $48.00 to $44.00 and set a “buy” rating on the stock in a research report on Wednesday, April 5th. Finally, HC Wainwright boosted their price target on shares of Day One Biopharmaceuticals from $45.00 to $50.00 in a research report on Monday, June 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $45.83.
Day One Biopharmaceuticals Stock Up 8.9 %
Day One Biopharmaceuticals (NASDAQ:DAWN – Get Rating) last released its quarterly earnings data on Monday, May 1st. The company reported ($0.59) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.59). On average, sell-side analysts predict that Day One Biopharmaceuticals, Inc. will post -2.48 EPS for the current fiscal year.
Hedge Funds Weigh In On Day One Biopharmaceuticals
A number of large investors have recently added to or reduced their stakes in DAWN. Bank of New York Mellon Corp increased its holdings in shares of Day One Biopharmaceuticals by 78.3% during the first quarter. Bank of New York Mellon Corp now owns 57,490 shares of the company’s stock valued at $570,000 after acquiring an additional 25,250 shares in the last quarter. MetLife Investment Management LLC acquired a new position in Day One Biopharmaceuticals in the 1st quarter worth approximately $154,000. Rhumbline Advisers acquired a new position in Day One Biopharmaceuticals in the 1st quarter worth approximately $193,000. BlackRock Inc. increased its holdings in Day One Biopharmaceuticals by 54.6% in the 1st quarter. BlackRock Inc. now owns 1,162,916 shares of the company’s stock worth $11,537,000 after buying an additional 410,797 shares during the period. Finally, American International Group Inc. increased its holdings in Day One Biopharmaceuticals by 92.7% in the 1st quarter. American International Group Inc. now owns 11,294 shares of the company’s stock worth $112,000 after buying an additional 5,434 shares during the period. 86.08% of the stock is currently owned by institutional investors.
About Day One Biopharmaceuticals
Day One Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops and commercializes targeted therapies for patients with genetically defined cancers. Its lead product candidate is DAY101, an oral brain-penetrant type II pan-rapidly accelerated fibrosarcoma kinase inhibitor that is in Phase II clinical trial for pediatric patients with relapsed/progressive low-grade glioma.
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