Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Stock Position Cut by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its holdings in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 4.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 48,274 shares of the company’s stock after selling 2,094 shares during the period. The Manufacturers Life Insurance Company’s holdings in Day One Biopharmaceuticals were worth $665,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Deerfield Management Company L.P. Series C lifted its position in shares of Day One Biopharmaceuticals by 65.6% in the second quarter. Deerfield Management Company L.P. Series C now owns 2,923,137 shares of the company’s stock worth $40,281,000 after purchasing an additional 1,157,825 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Day One Biopharmaceuticals by 28.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,118,849 shares of the company’s stock worth $30,935,000 after purchasing an additional 472,654 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Day One Biopharmaceuticals by 19.8% during the 1st quarter. Janus Henderson Group PLC now owns 2,032,384 shares of the company’s stock worth $33,575,000 after purchasing an additional 336,281 shares during the last quarter. Estuary Capital Management LP grew its position in shares of Day One Biopharmaceuticals by 82.5% during the 1st quarter. Estuary Capital Management LP now owns 1,611,137 shares of the company’s stock worth $26,616,000 after buying an additional 728,240 shares during the period. Finally, Ally Bridge Group NY LLC acquired a new position in shares of Day One Biopharmaceuticals during the 2nd quarter worth about $7,387,000. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Day One Biopharmaceuticals Price Performance

Shares of Day One Biopharmaceuticals stock opened at $14.30 on Tuesday. The company has a 50-day moving average of $13.90 and a 200 day moving average of $14.40. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of -5.70 and a beta of -1.51. Day One Biopharmaceuticals, Inc. has a 1 year low of $9.67 and a 1 year high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings results on Tuesday, July 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.75) by $0.70. The company had revenue of $8.19 million for the quarter, compared to analysts’ expectations of $0.90 million. On average, equities analysts anticipate that Day One Biopharmaceuticals, Inc. will post -1.68 EPS for the current year.

Insider Activity

In related news, insider Samuel C. Blackman sold 30,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $14.22, for a total value of $426,600.00. Following the sale, the insider now owns 1,097,535 shares in the company, valued at approximately $15,606,947.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Samuel C. Blackman sold 30,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $14.22, for a total transaction of $426,600.00. Following the completion of the sale, the insider now directly owns 1,097,535 shares of the company’s stock, valued at approximately $15,606,947.70. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Adam Dubow sold 3,202 shares of Day One Biopharmaceuticals stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $14.00, for a total value of $44,828.00. Following the completion of the sale, the general counsel now owns 26,928 shares of the company’s stock, valued at $376,992. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,748 shares of company stock worth $689,072 over the last quarter. Insiders own 8.40% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on DAWN. Bank of America upgraded shares of Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $11.00 to $24.00 in a report on Thursday, August 1st. Needham & Company LLC boosted their price objective on shares of Day One Biopharmaceuticals from $32.00 to $33.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. HC Wainwright restated a “buy” rating and issued a $40.00 target price on shares of Day One Biopharmaceuticals in a research report on Thursday, August 1st. Wedbush restated an “outperform” rating and issued a $33.00 price target on shares of Day One Biopharmaceuticals in a research report on Thursday, July 25th. Finally, Piper Sandler restated an “overweight” rating and issued a $40.00 price target on shares of Day One Biopharmaceuticals in a research report on Monday, July 8th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $35.71.

Day One Biopharmaceuticals Company 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.