Charles Schwab Investment Management Inc. Raises Stake in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Charles Schwab Investment Management Inc. boosted its holdings in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 5.5% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 535,501 shares of the company’s stock after buying an additional 28,053 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Day One Biopharmaceuticals were worth $6,785,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DAWN. Algert Global LLC boosted its position in shares of Day One Biopharmaceuticals by 248.8% in the third quarter. Algert Global LLC now owns 71,487 shares of the company’s stock worth $996,000 after buying an additional 50,990 shares during the period. SG Americas Securities LLC acquired a new position in Day One Biopharmaceuticals during the 4th quarter worth approximately $866,000. Hennion & Walsh Asset Management Inc. boosted its holdings in Day One Biopharmaceuticals by 90.6% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 121,167 shares of the company’s stock worth $1,535,000 after acquiring an additional 57,601 shares during the period. Geode Capital Management LLC grew its position in Day One Biopharmaceuticals by 10.5% in the third quarter. Geode Capital Management LLC now owns 1,432,697 shares of the company’s stock valued at $19,961,000 after acquiring an additional 136,458 shares in the last quarter. Finally, Vestal Point Capital LP grew its position in Day One Biopharmaceuticals by 100.0% in the third quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company’s stock valued at $34,825,000 after acquiring an additional 1,250,000 shares in the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DAWN. Bank of America decreased their target price on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Needham & Company LLC reissued a “buy” rating and issued a $32.00 price objective on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. HC Wainwright lowered their target price on Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. JPMorgan Chase & Co. cut their price target on Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 5th. Finally, The Goldman Sachs Group lowered their price objective on Day One Biopharmaceuticals from $48.00 to $43.00 and set a “buy” rating for the company in a research note on Monday, February 10th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $34.57.

Day One Biopharmaceuticals Stock Performance

Shares of DAWN stock opened at $8.31 on Tuesday. The stock has a market capitalization of $842.26 million, a price-to-earnings ratio of -8.07 and a beta of -1.38. Day One Biopharmaceuticals, Inc. has a one year low of $7.88 and a one year high of $18.07. The company’s 50-day simple moving average is $10.90 and its 200-day simple moving average is $12.76.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its earnings results on Tuesday, February 25th. The company reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.34). The business had revenue of $29.21 million during the quarter, compared to the consensus estimate of $27.11 million. As a group, research analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Insider Buying and Selling

In other news, General Counsel Adam Dubow sold 4,646 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total transaction of $55,566.16. Following the completion of the transaction, the general counsel now directly owns 39,602 shares of the company’s stock, valued at approximately $473,639.92. This represents a 10.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeremy Bender sold 12,048 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total value of $144,094.08. Following the completion of the sale, the chief executive officer now directly owns 128,015 shares in the company, valued at approximately $1,531,059.40. This trade represents a 8.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,064 shares of company stock worth $251,925 over the last ninety days. 8.40% of the stock is owned by insiders.

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.