Day One Biopharmaceuticals, Inc. $DAWN Shares Acquired by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly increased its stake in Day One Biopharmaceuticals by 1,724.3% during the first quarter, now owning approximately 0.06% of the company valued at $491,000.
• Several hedge funds have recently invested in Day One Biopharmaceuticals, with institutional investors owning 87.95% of the company's stock.
• Day One Biopharmaceuticals reported a mixed quarterly earnings result with a loss of ($0.29) EPS, slightly beating expectations, though revenue fell below analyst forecasts at approximately $33.91 million.

AlphaQuest LLC increased its holdings in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) by 1,724.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,952 shares of the company's stock after purchasing an additional 58,556 shares during the quarter. AlphaQuest LLC owned approximately 0.06% of Day One Biopharmaceuticals worth $491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. GF Fund Management CO. LTD. bought a new stake in Day One Biopharmaceuticals during the 4th quarter valued at approximately $27,000. Quantbot Technologies LP bought a new position in Day One Biopharmaceuticals in the 1st quarter valued at approximately $82,000. Pallas Capital Advisors LLC bought a new position in Day One Biopharmaceuticals in the 1st quarter valued at approximately $87,000. Wealth Enhancement Advisory Services LLC bought a new position in Day One Biopharmaceuticals in the 1st quarter valued at approximately $88,000. Finally, American Century Companies Inc. bought a new position in shares of Day One Biopharmaceuticals during the 1st quarter valued at $114,000. 87.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on DAWN shares. HC Wainwright lowered their price target on Day One Biopharmaceuticals from $36.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Needham & Company LLC decreased their price objective on shares of Day One Biopharmaceuticals from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Piper Sandler began coverage on shares of Day One Biopharmaceuticals in a research note on Monday, August 18th. They issued an "overweight" rating and a $25.00 price objective for the company. Finally, Wedbush reissued an "outperform" rating and issued a $25.00 price objective on shares of Day One Biopharmaceuticals in a research note on Wednesday, May 7th. One research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $25.29.

Insider Buying and Selling at Day One Biopharmaceuticals

In related news, insider Lauren Merendino sold 3,766 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $6.77, for a total transaction of $25,495.82. Following the completion of the transaction, the insider directly owned 41,931 shares in the company, valued at $283,872.87. The trade was a 8.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Charles N. York II sold 4,106 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $6.77, for a total transaction of $27,797.62. Following the transaction, the chief financial officer owned 278,000 shares of the company's stock, valued at $1,882,060. This represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,295 shares of company stock valued at $191,557. Company insiders own 6.20% of the company's stock.

Day One Biopharmaceuticals Trading Down 1.1%

Shares of NASDAQ:DAWN traded down $0.08 on Monday, hitting $7.51. 893,899 shares of the company were exchanged, compared to its average volume of 2,069,801. Day One Biopharmaceuticals, Inc. has a 1-year low of $5.64 and a 1-year high of $16.76. The stock's 50 day moving average price is $6.75 and its 200 day moving average price is $7.38. The firm has a market capitalization of $769.25 million, a P/E ratio of -7.91 and a beta of -1.25.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last posted 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. Day One Biopharmaceuticals had a negative net margin of 50.63% and a negative return on equity of 19.01%. The business had revenue of $33.91 million during the quarter, compared to the consensus estimate of $35.55 million. On average, equities analysts predict that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current fiscal 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.