Boxer Capital Management LLC Makes New $15.08 Million Investment in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Boxer Capital Management LLC bought a new stake in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,189,943 shares of the company's stock, valued at approximately $15,077,000. Day One Biopharmaceuticals accounts for 1.3% of Boxer Capital Management LLC's investment portfolio, making the stock its 24th largest position. Boxer Capital Management LLC owned 1.18% of Day One Biopharmaceuticals at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new stake in Day One Biopharmaceuticals in the fourth quarter worth about $866,000. Hennion & Walsh Asset Management Inc. increased its position in shares of Day One Biopharmaceuticals by 90.6% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 121,167 shares of the company's stock valued at $1,535,000 after purchasing an additional 57,601 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Day One Biopharmaceuticals by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 535,501 shares of the company's stock worth $6,785,000 after buying an additional 28,053 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of 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 buying an additional 87,262 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Day One Biopharmaceuticals by 43.4% during the fourth quarter. Bank of New York Mellon Corp now owns 244,829 shares of the company's stock valued at $3,102,000 after buying an additional 74,091 shares in the last quarter. Institutional investors own 87.95% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on DAWN shares. The Goldman Sachs Group reduced their price objective on shares of Day One Biopharmaceuticals from $39.00 to $27.00 and set a "buy" rating for the company in a research report on Tuesday, March 25th. Needham & Company LLC restated a "buy" rating and issued a $32.00 price target on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. HC Wainwright reiterated a "buy" rating and set a $36.00 price objective on shares of Day One Biopharmaceuticals in a research report on Thursday, April 3rd. JPMorgan Chase & Co. decreased their target price on Day One Biopharmaceuticals from $39.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. Finally, Bank of America reduced their target price on Day One Biopharmaceuticals from $28.00 to $25.00 and set a "buy" rating for the company in a report on Tuesday, January 7th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $32.29.

Day One Biopharmaceuticals Price Performance

Day One Biopharmaceuticals stock traded down $0.45 during mid-day trading on Monday, hitting $7.48. The company's stock had a trading volume of 760,207 shares, compared to its average volume of 1,057,654. Day One Biopharmaceuticals, Inc. has a 52-week low of $6.41 and a 52-week high of $17.79. The company has a market cap of $758.13 million, a PE ratio of -7.26 and a beta of -1.24. The firm's 50 day moving average is $7.92 and its 200 day moving average is $11.33.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.34). The business had revenue of $29.21 million for the quarter, compared to analysts' expectations of $27.11 million. As a group, analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Insider Activity at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, General Counsel Adam Dubow sold 4,646 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeremy Bender sold 12,048 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 $144,094.08. Following the completion of the transaction, 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 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. Insiders own 6.20% of the company's stock.

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.