Ieq Capital LLC Invests $294,000 in Day One Biopharmaceuticals, Inc. $DAWN

Key Points

• Ieq Capital LLC acquired 37,012 shares of Day One Biopharmaceuticals, valued at approximately $294,000, during the first quarter.
• Insider sales included CEO Jeremy Bender selling 16,058 shares at $6.77 each, decreasing his ownership by 9.05%.
• Day One Biopharmaceuticals' stock has a 52-week range of $5.64 to $16.76 and reported earnings of ($0.29) per share, exceeding analysts' expectations.

Ieq Capital LLC acquired a new stake in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 37,012 shares of the company's stock, valued at approximately $294,000.

A number of other large investors also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Day One Biopharmaceuticals by 5.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,843 shares of the company's stock valued at $454,000 after purchasing an additional 1,894 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of Day One Biopharmaceuticals during the fourth quarter valued at about $27,000. Exchange Traded Concepts LLC lifted its position in shares of Day One Biopharmaceuticals by 19.6% during the first quarter. Exchange Traded Concepts LLC now owns 14,693 shares of the company's stock valued at $117,000 after purchasing an additional 2,407 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Day One Biopharmaceuticals by 2.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 146,385 shares of the company's stock valued at $1,855,000 after purchasing an additional 3,250 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Day One Biopharmaceuticals by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 248,380 shares of the company's stock valued at $1,970,000 after purchasing an additional 3,551 shares in the last quarter. 87.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DAWN. HC Wainwright dropped their price target on shares of Day One Biopharmaceuticals from $36.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Piper Sandler assumed coverage on shares of Day One Biopharmaceuticals in a research report on Monday, August 18th. They issued an "overweight" rating and a $25.00 price objective on the stock. Finally, Needham & Company LLC lowered their price objective on shares of Day One Biopharmaceuticals from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $25.29.

Day One Biopharmaceuticals Stock Performance

DAWN stock traded up $0.11 during mid-day trading on Thursday, hitting $7.37. The company had a trading volume of 969,964 shares, compared to its average volume of 1,051,001. The firm has a market cap of $754.91 million, a PE ratio of -7.76 and a beta of -1.25. Day One Biopharmaceuticals, Inc. has a 12 month low of $5.64 and a 12 month high of $16.76. The stock's fifty day moving average price is $6.88 and its two-hundred day moving average price is $7.18.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.06. The business had revenue of $33.91 million for the quarter, compared to analyst estimates of $35.55 million. Day One Biopharmaceuticals had a negative net margin of 50.63% and a negative return on equity of 19.01%. Equities analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current year.

Insider Buying and Selling at Day One Biopharmaceuticals

In other news, insider Adam Dubow sold 4,365 shares of Day One Biopharmaceuticals stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $6.77, for a total value of $29,551.05. Following the completion of the transaction, the insider owned 54,858 shares in the company, valued at $371,388.66. This trade represents a 7.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lauren Merendino sold 3,766 shares of Day One Biopharmaceuticals stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $6.77, for a total transaction of $25,495.82. Following the completion of the transaction, the insider owned 41,931 shares of the company's stock, valued at $283,872.87. The trade was a 8.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,295 shares of company stock worth $191,557 over the last three months. Company insiders own 6.20% 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.