Estuary Capital Management LP Buys 972,997 Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Estuary Capital Management LP boosted its holdings in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) by 35.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,716,777 shares of the company's stock after acquiring an additional 972,997 shares during the period. Day One Biopharmaceuticals accounts for about 13.8% of Estuary Capital Management LP's investment portfolio, making the stock its largest holding. Estuary Capital Management LP owned about 3.69% of Day One Biopharmaceuticals worth $47,092,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. R Squared Ltd bought a new stake in Day One Biopharmaceuticals during the 4th quarter valued at about $31,000. Tower Research Capital LLC TRC grew its stake in shares of Day One Biopharmaceuticals by 911.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,657 shares of the company's stock worth $135,000 after acquiring an additional 9,603 shares during the period. E Fund Management Co. Ltd. purchased a new position in shares of Day One Biopharmaceuticals in the fourth quarter worth approximately $143,000. KLP Kapitalforvaltning AS purchased a new position in shares of Day One Biopharmaceuticals in the fourth quarter worth approximately $150,000. Finally, Optimize Financial Inc purchased a new position in shares of Day One Biopharmaceuticals in the fourth quarter worth approximately $196,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, General Counsel Adam Dubow sold 4,646 shares of Day One Biopharmaceuticals stock in a transaction that occurred on 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 transaction, the general counsel now directly owns 39,602 shares of the company's stock, valued at $473,639.92. The trade was a 10.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeremy Bender sold 12,048 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total transaction 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 trade represents a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,064 shares of company stock valued at $251,925. 6.20% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. JPMorgan Chase & Co. lowered their price target 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 target price on shares of Day One Biopharmaceuticals from $39.00 to $27.00 and set a "buy" rating on the stock in a report on Tuesday, March 25th. Wedbush restated an "outperform" rating and issued a $25.00 price target on shares of Day One Biopharmaceuticals in a research report on Wednesday, May 7th. 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. Finally, Needham & Company LLC cut their price objective on shares of Day One Biopharmaceuticals from $30.00 to $27.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Day One Biopharmaceuticals currently has a consensus rating of "Buy" and a consensus price target of $30.57.

Day One Biopharmaceuticals Stock Performance

DAWN stock traded down $0.17 during trading on Wednesday, reaching $6.16. The company had a trading volume of 1,012,444 shares, compared to its average volume of 1,085,738. The firm has a 50-day simple moving average of $7.58 and a 200-day simple moving average of $10.97. The company has a market cap of $624.39 million, a price-to-earnings ratio of -5.98 and a beta of -1.24. Day One Biopharmaceuticals, Inc. has a twelve month low of $6.10 and a twelve month high of $17.14.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.46) by $0.11. The business had revenue of $30.76 million for the quarter, compared to analysts' expectations of $30.28 million. Sell-side analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current year.

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.