CenterBook Partners LP Decreases Stock Position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

CenterBook Partners LP cut its holdings in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) by 88.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,836 shares of the company's stock after selling 88,899 shares during the period. CenterBook Partners LP's holdings in Day One Biopharmaceuticals were worth $94,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Day One Biopharmaceuticals during the 1st quarter worth about $88,000. Rhumbline Advisers grew its stake in shares of Day One Biopharmaceuticals by 8.3% during the first quarter. Rhumbline Advisers now owns 81,844 shares of the company's stock valued at $649,000 after buying an additional 6,291 shares during the last quarter. MetLife Investment Management LLC raised its holdings in shares of Day One Biopharmaceuticals by 12.4% in the fourth quarter. MetLife Investment Management LLC now owns 34,248 shares of the company's stock worth $434,000 after buying an additional 3,781 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Day One Biopharmaceuticals by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 535,501 shares of the company's stock worth $6,785,000 after buying an additional 28,053 shares during the period. Finally, Millennium Management LLC boosted its holdings in Day One Biopharmaceuticals by 80.4% during the 4th quarter. Millennium Management LLC now owns 192,100 shares of the company's stock valued at $2,434,000 after acquiring an additional 85,606 shares during the period. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel Adam Dubow sold 4,552 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $6.26, for a total value of $28,495.52. Following the sale, the general counsel directly owned 47,136 shares of the company's stock, valued at $295,071.36. The trade was a 8.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeremy Bender sold 13,964 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $6.26, for a total transaction of $87,414.64. Following the sale, the chief executive officer directly owned 145,737 shares of the company's stock, valued at $912,313.62. The trade was a 8.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,725 shares of company stock worth $167,299 over the last 90 days. 6.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DAWN has been the topic of several recent analyst reports. 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 on the stock in a research note on Tuesday, March 25th. Needham & Company LLC dropped their target price on shares of Day One Biopharmaceuticals from $30.00 to $27.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Wedbush restated an "outperform" rating and issued a $25.00 price target on shares of Day One Biopharmaceuticals in a report on Wednesday, May 7th. Finally, HC Wainwright reiterated a "buy" rating and set a $36.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, April 3rd. Six equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $29.00.

Day One Biopharmaceuticals Price Performance

NASDAQ:DAWN traded down $0.10 during trading hours on Friday, hitting $6.40. 1,872,263 shares of the company were exchanged, compared to its average volume of 1,166,631. Day One Biopharmaceuticals, Inc. has a 52-week low of $6.08 and a 52-week high of $16.76. The stock has a market capitalization of $648.70 million, a price-to-earnings ratio of -9.01 and a beta of -1.27. The company's 50 day moving average price is $6.59 and its 200-day moving average price is $8.59.

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

Day One Biopharmaceuticals Company 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.