CenterBook Partners LP Makes New Investment in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

CenterBook Partners LP purchased a new position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 100,735 shares of the company's stock, valued at approximately $1,276,000. CenterBook Partners LP owned 0.10% of Day One Biopharmaceuticals at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in DAWN. Renaissance Technologies LLC grew its holdings in Day One Biopharmaceuticals by 157.0% during the 4th quarter. Renaissance Technologies LLC now owns 243,740 shares of the company's stock worth $3,088,000 after acquiring an additional 148,900 shares in the last quarter. FMR LLC lifted its stake in shares of Day One Biopharmaceuticals by 73.9% in the 4th quarter. FMR LLC now owns 12,887,467 shares of the company's stock valued at $163,284,000 after purchasing an additional 5,475,087 shares during the period. ExodusPoint Capital Management LP acquired a new stake in Day One Biopharmaceuticals in the fourth quarter valued at approximately $2,726,000. Trexquant Investment LP acquired a new position in shares of Day One Biopharmaceuticals during the 4th quarter worth about $1,115,000. Finally, Geode Capital Management LLC grew its holdings in shares of Day One Biopharmaceuticals by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 1,462,982 shares of the company's stock worth $18,541,000 after buying an additional 30,285 shares in the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, General Counsel Adam Dubow sold 4,646 shares of the stock in a transaction dated 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 sale, the general counsel now 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 SEC, which can be accessed through this hyperlink. Also, CEO Jeremy Bender sold 12,048 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total transaction 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 $1,531,059.40. This trade represents a 8.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 21,064 shares of company stock valued at $251,925 in the last ninety days. 8.40% of the stock is currently owned by insiders.

Day One Biopharmaceuticals Price Performance

DAWN stock traded down $0.24 during mid-day trading on Wednesday, reaching $6.95. The company had a trading volume of 214,960 shares, compared to its average volume of 1,116,538. The company has a market capitalization of $704.42 million, a price-to-earnings ratio of -6.75 and a beta of -1.24. Day One Biopharmaceuticals, Inc. has a 52 week low of $6.41 and a 52 week high of $18.07. The stock has a 50 day simple moving average of $9.13 and a two-hundred day simple moving average of $11.95.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $27.11 million. On average, equities analysts predict that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Wall Street Analysts Forecast Growth

DAWN has been the subject of several analyst reports. Wedbush reiterated an "outperform" rating and issued a $32.00 price objective on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. The Goldman Sachs Group dropped their target price on shares of Day One Biopharmaceuticals from $39.00 to $27.00 and set a "buy" rating on the stock in a research report on Tuesday, March 25th. JPMorgan Chase & Co. reduced their target price on shares of Day One Biopharmaceuticals from $39.00 to $34.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Needham & Company LLC reiterated a "buy" rating and set a $32.00 price target on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. Finally, Bank of America cut their price target on 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. 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 MarketBeat, Day One Biopharmaceuticals currently has a consensus rating of "Buy" and a consensus target price of $32.29.

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.