Point72 Asset Management L.P. Takes $6.48 Million Position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Point72 Asset Management L.P. purchased a new position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) during the second quarter, Holdings Channel reports. The firm purchased 470,247 shares of the company’s stock, valued at approximately $6,480,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Braidwell LP boosted its position in shares of Day One Biopharmaceuticals by 13.5% during the 4th quarter. Braidwell LP now owns 4,215,573 shares of the company’s stock worth $61,547,000 after acquiring an additional 500,000 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its position in shares of Day One Biopharmaceuticals by 65.6% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 2,923,137 shares of the company’s stock worth $40,281,000 after buying an additional 1,157,825 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Day One Biopharmaceuticals by 28.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,118,849 shares of the company’s stock valued at $30,935,000 after buying an additional 472,654 shares in the last quarter. Janus Henderson Group PLC grew its position in Day One Biopharmaceuticals by 19.8% in the first quarter. Janus Henderson Group PLC now owns 2,032,384 shares of the company’s stock valued at $33,575,000 after acquiring an additional 336,281 shares during the last quarter. Finally, Estuary Capital Management LP raised its stake in Day One Biopharmaceuticals by 82.5% during the first quarter. Estuary Capital Management LP now owns 1,611,137 shares of the company’s stock worth $26,616,000 after acquiring an additional 728,240 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Insider Buying and Selling at Day One Biopharmaceuticals

In other news, General Counsel Adam Dubow sold 3,202 shares of Day One Biopharmaceuticals stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $14.00, for a total value of $44,828.00. Following the completion of the transaction, the general counsel now directly owns 26,928 shares of the company’s stock, valued at approximately $376,992. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 20,000 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $16.01, for a total value of $320,200.00. Following the completion of the sale, the insider now directly owns 1,121,081 shares in the company, valued at $17,948,506.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Adam Dubow sold 3,202 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $14.00, for a total transaction of $44,828.00. Following the transaction, the general counsel now owns 26,928 shares in the company, valued at approximately $376,992. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,748 shares of company stock valued at $1,009,272. 8.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on DAWN shares. Wedbush restated an “outperform” rating and issued a $33.00 price target on shares of Day One Biopharmaceuticals in a research note on Thursday, July 25th. Bank of America raised shares of Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $24.00 in a research note on Thursday, August 1st. JPMorgan Chase & Co. dropped their price target on Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. Piper Sandler restated an “overweight” rating and set a $40.00 price objective on shares of Day One Biopharmaceuticals in a research report on Monday, July 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $33.00 price target on shares of Day One Biopharmaceuticals in a research note on Tuesday, July 30th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Day One Biopharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $35.71.

Day One Biopharmaceuticals Trading Up 0.5 %

NASDAQ DAWN opened at $14.00 on Wednesday. Day One Biopharmaceuticals, Inc. has a 12 month low of $9.67 and a 12 month high of $18.07. The firm has a market capitalization of $1.22 billion, a PE ratio of -5.58 and a beta of -1.51. The business’s 50-day moving average price is $14.08 and its two-hundred day moving average price is $14.48.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its earnings results on Tuesday, July 30th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.70. The firm had revenue of $8.19 million for the quarter, compared to analyst estimates of $0.90 million. As a group, analysts forecast that Day One Biopharmaceuticals, Inc. will post -1.68 earnings per share for the current fiscal year.

Day One Biopharmaceuticals Profile

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.