Deerfield Management Company L.P. Series C Increases Stock Holdings in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Deerfield Management Company L.P. Series C increased its holdings in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 65.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,923,137 shares of the company’s stock after acquiring an additional 1,157,825 shares during the quarter. Deerfield Management Company L.P. Series C’s holdings in Day One Biopharmaceuticals were worth $40,281,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DAWN. Estuary Capital Management LP raised its holdings in Day One Biopharmaceuticals by 82.5% in the first quarter. Estuary Capital Management LP now owns 1,611,137 shares of the company’s stock worth $26,616,000 after purchasing an additional 728,240 shares in the last quarter. Ally Bridge Group NY LLC bought a new position in Day One Biopharmaceuticals in the second quarter worth $7,387,000. Braidwell LP raised its holdings in Day One Biopharmaceuticals by 13.5% in the fourth quarter. Braidwell LP now owns 4,215,573 shares of the company’s stock worth $61,547,000 after purchasing an additional 500,000 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings 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 worth $30,935,000 after purchasing an additional 472,654 shares in the last quarter. Finally, Superstring Capital Management LP bought a new position in Day One Biopharmaceuticals in the fourth quarter worth $5,543,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Analysts Set New Price Targets

DAWN has been the subject of several analyst reports. Bank of America upgraded Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and raised their price target for the company from $11.00 to $24.00 in a report on Thursday, August 1st. Piper Sandler restated an “overweight” rating and set a $40.00 price target on shares of Day One Biopharmaceuticals in a report on Monday, July 8th. HC Wainwright restated a “buy” rating and set a $40.00 price target on shares of Day One Biopharmaceuticals in a report on Thursday, August 1st. Wedbush restated an “outperform” rating and set a $33.00 price target on shares of Day One Biopharmaceuticals in a report on Thursday, July 25th. Finally, Needham & Company LLC restated a “buy” rating and set a $33.00 price target on shares of Day One Biopharmaceuticals in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $35.71.

Day One Biopharmaceuticals Stock Performance

NASDAQ DAWN opened at $14.06 on Thursday. Day One Biopharmaceuticals, Inc. has a one year low of $9.67 and a one year high of $18.07. The stock has a 50-day moving average of $14.17 and a 200 day moving average of $14.49. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -5.60 and a beta of -1.51.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings data on Tuesday, July 30th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.70. The business had revenue of $8.19 million during the quarter, compared to the consensus estimate of $0.90 million. On average, equities analysts predict that Day One Biopharmaceuticals, Inc. will post -1.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Samuel C. Blackman sold 30,000 shares of Day One Biopharmaceuticals stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $14.22, for a total value of $426,600.00. Following the completion of the sale, the insider now directly owns 1,097,535 shares in the company, valued at approximately $15,606,947.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $14.22, for a total value of $426,600.00. Following the transaction, the insider now directly owns 1,097,535 shares of the company’s stock, valued at $15,606,947.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Adam Dubow sold 3,202 shares of the firm’s 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 in the company, valued at $376,992. The disclosure for this sale can be found here. In the last ninety days, insiders sold 68,748 shares of company stock worth $1,009,272. 8.40% of the stock is owned by corporate insiders.

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.