Bank of America Corp DE Sells 171,660 Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Bank of America Corp DE cut its stake in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) by 89.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,534 shares of the company's stock after selling 171,660 shares during the period. Bank of America Corp DE's holdings in Day One Biopharmaceuticals were worth $260,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC lifted its holdings in shares of Day One Biopharmaceuticals by 73.9% during the fourth quarter. FMR LLC now owns 12,887,467 shares of the company's stock valued at $163,284,000 after purchasing an additional 5,475,087 shares during the last quarter. Alyeska Investment Group L.P. purchased a new position in shares of Day One Biopharmaceuticals during the fourth quarter valued at approximately $31,829,000. Boxer Capital Management LLC purchased a new position in shares of Day One Biopharmaceuticals during the fourth quarter valued at approximately $15,077,000. Marshall Wace LLP purchased a new position in shares of Day One Biopharmaceuticals during the fourth quarter valued at approximately $13,909,000. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of Day One Biopharmaceuticals by 17.0% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,490,064 shares of the company's stock valued at $44,219,000 after purchasing an additional 507,398 shares during the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Jeremy Bender sold 13,964 shares of Day One Biopharmaceuticals stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.26, for a total transaction of $87,414.64. Following the transaction, the chief executive officer now owns 145,737 shares in the company, valued at $912,313.62. This trade represents a 8.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Charles N. York II sold 4,282 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.26, for a total transaction of $26,805.32. Following the sale, the chief financial officer now directly owns 265,231 shares of the company's stock, valued at approximately $1,660,346.06. The trade was a 1.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,725 shares of company stock valued at $167,299. Company insiders own 6.20% of the company's stock.

Day One Biopharmaceuticals Trading Down 1.4%

NASDAQ:DAWN traded down $0.09 during trading hours on Wednesday, reaching $6.41. The company had a trading volume of 1,321,774 shares, compared to its average volume of 1,130,938. Day One Biopharmaceuticals, Inc. has a 52 week low of $6.08 and a 52 week high of $16.76. The firm has a market cap of $649.72 million, a price-to-earnings ratio of -9.03 and a beta of -1.30. The firm's 50 day moving average price is $6.86 and its 200-day moving average price is $9.59.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.35) EPS for the quarter, topping analysts' consensus estimates of ($0.46) by $0.11. Day One Biopharmaceuticals had a negative net margin of 42.66% and a negative return on equity of 14.98%. The business had revenue of $30.76 million during the quarter, compared to the consensus estimate of $30.28 million. On average, analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Needham & Company LLC reduced their price target on shares of Day One Biopharmaceuticals from $30.00 to $27.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Wedbush reissued an "outperform" rating and set a $25.00 price target on shares of Day One Biopharmaceuticals in a research report on Wednesday, May 7th. The Goldman Sachs Group reduced their price target on shares of Day One Biopharmaceuticals from $39.00 to $27.00 and set a "buy" rating for the company in a research report on Tuesday, March 25th. HC Wainwright reissued a "buy" rating and set a $36.00 price target on shares of Day One Biopharmaceuticals in a research report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Day One Biopharmaceuticals from $39.00 to $34.00 and set an "overweight" rating for the company in a research report on Wednesday, March 5th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $30.57.

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.