2,512,187 Shares in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Purchased by Alyeska Investment Group L.P.

Alyeska Investment Group L.P. acquired a new stake in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,512,187 shares of the company's stock, valued at approximately $31,829,000. Alyeska Investment Group L.P. owned about 2.49% of Day One Biopharmaceuticals as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. FMR LLC lifted its stake in Day One Biopharmaceuticals by 73.9% in the fourth quarter. FMR LLC now owns 12,887,467 shares of the company's stock worth $163,284,000 after purchasing an additional 5,475,087 shares during the last quarter. Boxer Capital Management LLC purchased a new stake in shares of Day One Biopharmaceuticals in the fourth quarter worth approximately $15,077,000. Marshall Wace LLP purchased a new position in Day One Biopharmaceuticals during the 4th quarter valued at $13,909,000. Pictet Asset Management Holding SA boosted its holdings in Day One Biopharmaceuticals by 17.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,490,064 shares of the company's stock valued at $44,219,000 after acquiring an additional 507,398 shares during the period. Finally, ExodusPoint Capital Management LP purchased a new stake in Day One Biopharmaceuticals in the fourth quarter worth $2,726,000. 87.95% of the stock is currently owned by institutional investors.

Day One Biopharmaceuticals Trading Down 6.6 %

Shares of NASDAQ:DAWN traded down $0.49 during trading on Tuesday, reaching $6.99. The stock had a trading volume of 2,088,549 shares, compared to its average volume of 1,061,467. The firm's 50-day simple moving average is $7.83 and its 200 day simple moving average is $11.25. Day One Biopharmaceuticals, Inc. has a one year low of $6.41 and a one year high of $17.79. The company has a market capitalization of $708.46 million, a P/E ratio of -6.79 and a beta of -1.24.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported ($0.35) earnings per share for the quarter, topping analysts' consensus estimates of ($0.45) by $0.10. Equities research analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on DAWN shares. JPMorgan Chase & Co. lowered their price objective on shares of Day One Biopharmaceuticals from $39.00 to $34.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. Wedbush reiterated an "outperform" rating and issued a $32.00 target price on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. The Goldman Sachs Group cut their price target on Day One Biopharmaceuticals from $39.00 to $27.00 and set a "buy" rating on the stock in a research note on Tuesday, March 25th. Needham & Company LLC reiterated a "buy" rating and set a $32.00 target price on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. Finally, HC Wainwright restated a "buy" rating and issued a $36.00 price target on shares of Day One Biopharmaceuticals in a report on Thursday, April 3rd. Seven investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $32.29.

Insiders Place Their Bets

In other news, CEO Jeremy Bender sold 12,048 shares of the company's stock in a transaction 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 directly owns 128,015 shares of the company's stock, valued at $1,531,059.40. This represents a 8.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $55,566.16. Following the sale, the general counsel now directly owns 39,602 shares in the company, valued at $473,639.92. This represents a 10.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 21,064 shares of company stock valued at $251,925. 6.20% of the stock is currently owned by corporate insiders.

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.