Algert Global LLC Invests $2.95 Million in Day One Biopharmaceuticals, Inc. $DAWN

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 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 firm purchased 371,380 shares of the company's stock, valued at approximately $2,945,000. Algert Global LLC owned about 0.37% of Day One Biopharmaceuticals as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new stake in Day One Biopharmaceuticals in the 4th quarter worth $27,000. Tower Research Capital LLC TRC lifted its position in shares of Day One Biopharmaceuticals by 911.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,657 shares of the company's stock worth $135,000 after purchasing an additional 9,603 shares during the period. Pallas Capital Advisors LLC purchased a new stake in shares of Day One Biopharmaceuticals in the 1st quarter worth about $87,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Day One Biopharmaceuticals in the 1st quarter worth about $88,000. Finally, Man Group plc purchased a new stake in shares of Day One Biopharmaceuticals in the 4th quarter worth about $162,000. Institutional investors own 87.95% of the company's stock.

Day One Biopharmaceuticals Price Performance

NASDAQ DAWN traded up $0.49 during trading hours on Tuesday, reaching $7.46. 1,162,652 shares of the company's stock traded hands, compared to its average volume of 2,079,620. The firm has a market cap of $764.13 million, a PE ratio of -7.85 and a beta of -1.26. Day One Biopharmaceuticals, Inc. has a 52-week low of $5.64 and a 52-week high of $16.76. The firm has a 50-day simple moving average of $6.65 and a 200 day simple moving average of $7.54.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last issued its earnings results 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 business had revenue of $33.91 million during the quarter, compared to analysts' expectations of $35.55 million. Day One Biopharmaceuticals had a negative net margin of 50.63% and a negative return on equity of 19.01%. Sell-side analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.

Analysts Set New Price Targets

DAWN has been the subject of several research analyst reports. HC Wainwright dropped their target price on shares of Day One Biopharmaceuticals from $36.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Needham & Company LLC dropped their target price on shares of Day One Biopharmaceuticals from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Wedbush reaffirmed an "outperform" rating and issued a $25.00 target price on shares of Day One Biopharmaceuticals in a research report on Wednesday, May 7th. Finally, Piper Sandler initiated coverage on shares of Day One Biopharmaceuticals in a research report on Monday, August 18th. They issued an "overweight" rating and a $25.00 target price for the company. 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, the company currently has a consensus rating of "Buy" and an average target price of $25.29.

Insider Activity

In other Day One Biopharmaceuticals news, insider Lauren Merendino sold 3,766 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 $25,495.82. Following the completion of the transaction, the insider directly owned 41,931 shares of the company's stock, valued at approximately $283,872.87. The trade was a 8.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Adam Dubow sold 4,365 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 $29,551.05. Following the completion of the transaction, the insider directly 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 sold a total of 28,295 shares of company stock valued at $191,557 over the last ninety days. 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.