Walleye Capital LLC Makes New Investment in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Walleye Capital LLC bought a new stake in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 34,266 shares of the company’s stock, valued at approximately $477,000.

Other hedge funds have also modified their holdings of the company. FMR LLC boosted its holdings in Day One Biopharmaceuticals by 178.5% in the 3rd quarter. FMR LLC now owns 7,412,380 shares of the company’s stock worth $103,254,000 after acquiring an additional 4,750,936 shares during the period. Deerfield Management Company L.P. Series C boosted its stake 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 valued at $40,281,000 after purchasing an additional 1,157,825 shares during the period. TimesSquare Capital Management LLC grew its holdings in Day One Biopharmaceuticals by 8.2% during the 3rd quarter. TimesSquare Capital Management LLC now owns 1,827,695 shares of the company’s stock valued at $25,460,000 after purchasing an additional 139,160 shares in the last quarter. First Turn Management LLC purchased a new stake in Day One Biopharmaceuticals during the 3rd quarter worth $13,204,000. Finally, Ally Bridge Group NY LLC acquired a new position in Day One Biopharmaceuticals in the 2nd quarter worth $7,387,000. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Day One Biopharmaceuticals Stock Up 2.2 %

NASDAQ:DAWN opened at $13.75 on Monday. The company has a market cap of $1.39 billion, a PE ratio of -13.35 and a beta of -1.51. The business’s 50 day moving average is $14.27 and its two-hundred day moving average is $14.07. Day One Biopharmaceuticals, Inc. has a 52 week low of $11.51 and a 52 week high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.58. The firm had revenue of $93.76 million for the quarter, compared to the consensus estimate of $15.05 million. During the same quarter last year, the business earned ($0.54) earnings per share. As a group, sell-side analysts expect that Day One Biopharmaceuticals, Inc. will post -0.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DAWN. Needham & Company LLC restated a “buy” rating and set a $33.00 target price on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. HC Wainwright restated a “buy” rating and set a $40.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. Finally, TD Cowen raised Day One Biopharmaceuticals to a “strong-buy” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $35.71.

Insider Activity

In related news, insider Samuel C. Blackman sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $16.10, for a total transaction of $161,000.00. Following the completion of the transaction, the insider now owns 1,057,535 shares in the company, valued at $17,026,313.50. The trade was a 0.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders sold 51,745 shares of company stock valued at $775,867. Company insiders own 8.40% of the company’s stock.

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.