371,380 Shares in Day One Biopharmaceuticals, Inc. $DAWN Acquired by Algert Global LLC

Key Points

• Algert Global LLC has acquired 371,380 shares of Day One Biopharmaceuticals, valued at approximately $2,945,000, representing 0.37% of the company.
• Day One Biopharmaceuticals reported a quarterly loss of ($0.29) EPS, slightly beating estimates, but revenue of $33.91 million fell short of expectations.
• Equity analysts generally rate Day One Biopharmaceuticals as a "Buy," with a consensus price target of $25.29, reflecting optimism about the company's growth prospects.

Algert Global LLC purchased a new position in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 371,380 shares of the company's stock, valued at approximately $2,945,000. Algert Global LLC owned approximately 0.37% of Day One Biopharmaceuticals at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in DAWN. Virtus ETF Advisers LLC boosted its position in Day One Biopharmaceuticals by 7.1% during the fourth quarter. Virtus ETF Advisers LLC now owns 27,296 shares of the company's stock valued at $346,000 after purchasing an additional 1,805 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in 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 stake in Day One Biopharmaceuticals during the fourth quarter valued at about $27,000. Exchange Traded Concepts LLC boosted its position in 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. Finally, D. E. Shaw & Co. Inc. boosted its position in 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. Institutional investors own 87.95% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on DAWN shares. Needham & Company LLC dropped their price objective on 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. Wedbush reaffirmed an "outperform" rating and set a $25.00 price target on shares of Day One Biopharmaceuticals in a research report on Wednesday, May 7th. Piper Sandler initiated coverage on Day One Biopharmaceuticals in a research report on Monday, August 18th. They set an "overweight" rating and a $25.00 price target on the stock. Finally, HC Wainwright reduced their price target on 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. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company. According to data from MarketBeat, Day One Biopharmaceuticals presently has an average rating of "Buy" and an average price target of $25.29.

Insider Buying and Selling

In other news, CFO Charles N. York II sold 4,106 shares of the business's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $6.77, for a total value of $27,797.62. Following the completion of the sale, the chief financial officer directly owned 278,000 shares in the company, valued at $1,882,060. The trade was a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Adam Dubow sold 4,365 shares of the business's stock in a transaction that occurred on 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 sale, the insider owned 54,858 shares of the company's stock, valued at $371,388.66. This trade represents a 7.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,295 shares of company stock valued at $191,557 in the last ninety days. Insiders own 6.20% of the company's stock.

Day One Biopharmaceuticals Stock Down 2.6%

Shares of NASDAQ:DAWN traded down $0.1850 during trading on Monday, hitting $7.0150. The stock had a trading volume of 433,941 shares, compared to its average volume of 1,374,123. Day One Biopharmaceuticals, Inc. has a 12-month low of $5.64 and a 12-month high of $16.76. The stock has a market capitalization of $718.55 million, a price-to-earnings ratio of -7.39 and a beta of -1.26. The stock has a 50-day simple moving average of $6.63 and a two-hundred day simple moving average of $7.57.

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

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.