Marshall Wace LLP Raises Stake in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Marshall Wace LLP increased its stake in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 20.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 161,129 shares of the company’s stock after buying an additional 26,958 shares during the period. Marshall Wace LLP owned about 0.18% of Day One Biopharmaceuticals worth $2,220,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Quintet Private Bank Europe S.A. increased its stake in shares of Day One Biopharmaceuticals by 43.2% during the 4th quarter. Quintet Private Bank Europe S.A. now owns 3,313 shares of the company’s stock worth $48,000 after purchasing an additional 1,000 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of Day One Biopharmaceuticals by 2.5% in the first quarter. Hennion & Walsh Asset Management Inc. now owns 59,289 shares of the company’s stock valued at $979,000 after buying an additional 1,445 shares during the period. ProShare Advisors LLC lifted its position in shares of Day One Biopharmaceuticals by 9.1% during the 1st quarter. ProShare Advisors LLC now owns 17,379 shares of the company’s stock valued at $287,000 after buying an additional 1,447 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its stake in shares of Day One Biopharmaceuticals by 67.1% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 16,817 shares of the company’s stock worth $278,000 after acquiring an additional 6,750 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in Day One Biopharmaceuticals in the 2nd quarter worth about $113,000. Institutional investors own 87.95% of the company’s stock.

Day One Biopharmaceuticals Stock Performance

Shares of DAWN stock opened at $14.10 on Friday. Day One Biopharmaceuticals, Inc. has a 52-week low of $9.67 and a 52-week high of $18.07. The business’s fifty day moving average is $14.00 and its 200 day moving average is $14.47. The company has a market capitalization of $1.23 billion, a PE ratio of -5.62 and a beta of -1.51.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued 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 business had revenue of $8.19 million for the quarter, compared to the consensus estimate of $0.90 million. On average, sell-side analysts forecast that Day One Biopharmaceuticals, Inc. will post -1.68 EPS for the current fiscal year.

Insider Buying and Selling at Day One Biopharmaceuticals

In other 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 transaction of $320,200.00. Following the sale, the insider now owns 1,121,081 shares in the company, valued at approximately $17,948,506.81. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Samuel C. Blackman sold 20,000 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $16.01, for a total transaction of $320,200.00. Following the transaction, the insider now directly owns 1,121,081 shares in the company, valued at approximately $17,948,506.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Charles N. York II sold 2,633 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $14.00, for a total value of $36,862.00. Following the completion of the sale, the chief financial officer now owns 232,485 shares of the company’s stock, valued at $3,254,790. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,748 shares of company stock worth $1,009,272 over the last three months. 8.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Bank of America raised shares of Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and upped their price objective for the company from $11.00 to $24.00 in a report on Thursday, August 1st. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a report on Thursday, August 1st. Needham & Company LLC reissued a “buy” rating and set a $33.00 target price on shares of Day One Biopharmaceuticals in a report on Tuesday, July 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $40.00 price target on shares of Day One Biopharmaceuticals in a report on Monday, July 8th. Finally, JPMorgan Chase & Co. decreased their price objective on Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.71.

About Day One Biopharmaceuticals

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.