Estuary Capital Management LP Has $26.38 Million Stock Holdings in Day One Biopharmaceuticals, Inc. $DAWN

Key Points

• Estuary Capital Management LP decreased its stake in Day One Biopharmaceuticals by 10.5%, now holding approximately 3.32 million shares worth $26.38 million, making it the firm's 8th largest position.
• Several institutional investors have recently initiated positions in Day One Biopharmaceuticals, contributing to hedge funds owning 87.95% of the company's stock.
• The company announced earnings of (0.29) EPS for the quarter, surpassing estimates, but reported revenue of $33.91 million which was below the consensus estimate.

Estuary Capital Management LP trimmed its position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) by 10.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,326,849 shares of the company's stock after selling 389,928 shares during the quarter. Day One Biopharmaceuticals accounts for 6.4% of Estuary Capital Management LP's holdings, making the stock its 8th largest holding. Estuary Capital Management LP owned about 3.28% of Day One Biopharmaceuticals worth $26,382,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC increased its position in shares of Day One Biopharmaceuticals by 601.4% during the first quarter. AQR Capital Management LLC now owns 618,627 shares of the company's stock worth $4,906,000 after purchasing an additional 530,429 shares in the last quarter. Alyeska Investment Group L.P. boosted its position in Day One Biopharmaceuticals by 61.6% in the 1st quarter. Alyeska Investment Group L.P. now owns 4,059,764 shares of the company's stock valued at $32,194,000 after buying an additional 1,547,577 shares during the last quarter. Vestal Point Capital LP boosted its stake in Day One Biopharmaceuticals by 80.4% in the first quarter. Vestal Point Capital LP now owns 2,598,127 shares of the company's stock valued at $20,603,000 after acquiring an additional 1,158,127 shares during the period. Royal Bank of Canada raised its holdings in shares of Day One Biopharmaceuticals by 40.4% during the first quarter. Royal Bank of Canada now owns 185,733 shares of the company's stock valued at $1,474,000 after buying an additional 53,459 shares during the last quarter. Finally, Kodai Capital Management LP bought a new position in shares of Day One Biopharmaceuticals in the first quarter valued at $275,000. Hedge funds and other institutional investors own 87.95% of the company's stock.

Insider Activity

In related news, CEO Jeremy Bender sold 16,058 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $6.77, for a total value of $108,712.66. Following the completion of the transaction, the chief executive officer owned 161,365 shares in the company, valued at $1,092,441.05. This trade represents a 9.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Charles N. York II sold 4,106 shares of the firm'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 $27,797.62. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,295 shares of company stock valued at $191,557. Corporate insiders own 6.20% of the company's stock.

Day One Biopharmaceuticals Trading Down 0.5%

NASDAQ:DAWN traded down $0.04 on Tuesday, reaching $7.44. 208,933 shares of the stock traded hands, compared to its average volume of 1,351,987. The company's fifty day simple moving average is $6.84 and its 200 day simple moving average is $7.22. Day One Biopharmaceuticals, Inc. has a 12 month low of $5.64 and a 12 month high of $16.76. The company has a market capitalization of $761.57 million, a price-to-earnings ratio of -7.82 and a beta of -1.25.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.35) by $0.06. The company had revenue of $33.91 million for the quarter, compared to the consensus estimate of $35.55 million. Day One Biopharmaceuticals had a negative net margin of 50.63% and a negative return on equity of 19.01%. Equities analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DAWN. HC Wainwright decreased their price objective on shares of Day One Biopharmaceuticals from $36.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Piper Sandler began coverage on shares of 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, Needham & Company LLC cut their price target on shares of 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. One investment analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $25.29.

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.