Estuary Capital Management LP Sells 389,928 Shares of 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 stake in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) by 10.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,326,849 shares of the company's stock after selling 389,928 shares during the quarter. Day One Biopharmaceuticals makes up 6.4% of Estuary Capital Management LP's portfolio, making the stock its 8th biggest position. Estuary Capital Management LP owned 3.28% of Day One Biopharmaceuticals worth $26,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. GF Fund Management CO. LTD. bought a new position in shares of Day One Biopharmaceuticals in the 4th quarter worth about $27,000. Quantbot Technologies LP bought a new position in shares of Day One Biopharmaceuticals in the 1st quarter worth about $82,000. Pallas Capital Advisors LLC bought a new position in shares of Day One Biopharmaceuticals in the 1st quarter worth about $87,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Day One Biopharmaceuticals in the 1st quarter worth about $88,000. Finally, Magnetar Financial LLC bought a new position in shares of Day One Biopharmaceuticals in the 1st quarter worth about $90,000. 87.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on DAWN shares. Piper Sandler started coverage on shares of Day One Biopharmaceuticals in a research report on Monday, August 18th. They issued an "overweight" rating and a $25.00 price target on the stock. Needham & Company LLC dropped their price objective on shares of Day One Biopharmaceuticals from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Finally, HC Wainwright dropped their price objective on shares of Day One Biopharmaceuticals from $36.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat, Day One Biopharmaceuticals currently has a consensus rating of "Buy" and an average price target of $25.29.

Day One Biopharmaceuticals Price Performance

Shares of DAWN stock traded down $0.08 during trading hours on Monday, reaching $7.47. The stock had a trading volume of 874,800 shares, compared to its average volume of 1,358,777. Day One Biopharmaceuticals, Inc. has a twelve month low of $5.64 and a twelve month high of $16.76. The firm has a 50-day simple moving average of $6.82 and a 200-day simple moving average of $7.25. The firm has a market capitalization of $765.17 million, a PE ratio of -7.86 and a beta of -1.25.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.06. The firm had revenue of $33.91 million for 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%. On average, equities analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current year.

Insider Activity at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, insider Adam Dubow sold 4,365 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $6.77, for a total transaction of $29,551.05. Following the transaction, the insider owned 54,858 shares of the company's stock, valued at approximately $371,388.66. This trade represents a 7.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Lauren Merendino sold 3,766 shares of the firm's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $6.77, for a total transaction of $25,495.82. Following the transaction, the insider directly owned 41,931 shares in the company, valued at approximately $283,872.87. The trade was a 8.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,295 shares of company stock worth $191,557 in the last 90 days. Corporate insiders own 6.20% of the company's stock.

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.