Intech Investment Management LLC Raises Stock Position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Intech Investment Management LLC lifted its stake in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 50.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 34,888 shares of the company’s stock after buying an additional 11,652 shares during the period. Intech Investment Management LLC’s holdings in Day One Biopharmaceuticals were worth $442,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. FMR LLC grew its holdings in shares of Day One Biopharmaceuticals by 178.5% during the third quarter. FMR LLC now owns 7,412,380 shares of the company’s stock worth $103,254,000 after purchasing an additional 4,750,936 shares during the last quarter. Braidwell LP grew its stake in Day One Biopharmaceuticals by 60.5% during the 3rd quarter. Braidwell LP now owns 4,873,853 shares of the company’s stock worth $67,893,000 after buying an additional 1,837,949 shares during the last quarter. Franklin Resources Inc. increased its position in Day One Biopharmaceuticals by 2.3% during the third quarter. Franklin Resources Inc. now owns 3,869,632 shares of the company’s stock worth $55,336,000 after buying an additional 87,262 shares during the period. Vestal Point Capital LP lifted its stake 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 buying an additional 1,250,000 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its holdings in shares of Day One Biopharmaceuticals by 18.4% in the third quarter. Janus Henderson Group PLC now owns 2,177,197 shares of the company’s stock valued at $30,307,000 after acquiring an additional 337,928 shares during the period. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Day One Biopharmaceuticals

In related news, General Counsel Adam Dubow sold 4,646 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 $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 $473,639.92. This trade represents a 10.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jeremy Bender sold 12,048 shares of Day One Biopharmaceuticals stock in a transaction 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 transaction, the chief executive officer now directly owns 128,015 shares of the company’s stock, valued at approximately $1,531,059.40. This represents a 8.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 21,064 shares of company stock valued at $251,925. Corporate insiders own 8.40% of the company’s stock.

Day One Biopharmaceuticals Stock Performance

NASDAQ:DAWN opened at $8.31 on Tuesday. Day One Biopharmaceuticals, Inc. has a 1 year low of $7.88 and a 1 year high of $18.07. The stock has a fifty day moving average price of $10.90 and a two-hundred day moving average price of $12.76. 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 (NASDAQ:DAWN) last announced its quarterly earnings results on Tuesday, February 25th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.34). The firm had revenue of $29.21 million for the quarter, compared to analyst estimates of $27.11 million. On average, analysts predict that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

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.