Wellington Management Group LLP Grows Stake in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Wellington Management Group LLP boosted its holdings in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 731,303 shares of the company’s stock after buying an additional 9,722 shares during the quarter. Wellington Management Group LLP’s holdings in Day One Biopharmaceuticals were worth $9,266,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Day One Biopharmaceuticals by 14.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 507,448 shares of the company’s stock worth $7,069,000 after purchasing an additional 64,700 shares in the last quarter. Verition Fund Management LLC boosted its stake in shares of Day One Biopharmaceuticals by 31.4% during the third quarter. Verition Fund Management LLC now owns 31,075 shares of the company’s stock valued at $433,000 after acquiring an additional 7,422 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Day One Biopharmaceuticals during the third quarter worth about $178,000. Geode Capital Management LLC raised its holdings in Day One Biopharmaceuticals by 10.5% in the 3rd 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 during the last quarter. Finally, Franklin Resources Inc. increased its stake in Day One Biopharmaceuticals by 2.3% in the third quarter. Franklin Resources Inc. now owns 3,869,632 shares of the company’s stock valued at $55,336,000 after purchasing an additional 87,262 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Day One Biopharmaceuticals Stock Performance

Shares of NASDAQ DAWN opened at $7.27 on Thursday. Day One Biopharmaceuticals, Inc. has a 1 year low of $6.41 and a 1 year high of $18.07. The stock’s 50-day simple moving average is $9.54 and its 200-day simple moving average is $12.15. The firm has a market cap of $736.85 million, a price-to-earnings ratio of -7.06 and a beta of -1.24.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its 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 business had revenue of $29.21 million during the quarter, compared to the consensus estimate of $27.11 million. As a group, research analysts predict that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on DAWN shares. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 price target on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and issued a $32.00 price target on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. Bank of America reduced their price objective on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. The Goldman Sachs Group lowered their target price on Day One Biopharmaceuticals from $39.00 to $27.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. Finally, HC Wainwright reissued a “buy” rating and set a $36.00 price target on shares of Day One Biopharmaceuticals in a research report on Thursday, April 3rd. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Day One Biopharmaceuticals currently has an average rating of “Buy” and an average target price of $32.29.

Insider Activity at Day One Biopharmaceuticals

In related news, General Counsel Adam Dubow sold 4,646 shares of Day One Biopharmaceuticals stock in a transaction dated 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 in the company, valued at approximately $473,639.92. This trade 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 is accessible through this link. Also, CEO Jeremy Bender sold 12,048 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $144,094.08. Following the sale, the chief executive officer now owns 128,015 shares in the company, valued at $1,531,059.40. The trade was 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 valued at $251,925 over the last ninety days. Corporate 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.