Stonepine Capital Management LLC Grows Position in Day One Biopharmaceuticals, Inc. $DAWN

Key Points

• Stonepine Capital Management LLC increased its stake in Day One Biopharmaceuticals by 48.4%, now holding 348,820 shares valued at approximately $2.77 million.
• Day One Biopharmaceuticals' stock has been assigned an average rating of "Buy" with a target price of around $25.29 by analysts despite recent price target reductions from some firms.
• Insider transactions included a sale of 4,365 shares by Adam Dubow and 16,058 shares by CEO Jeremy Bender, both occurring at an average price of $6.77.

Stonepine Capital Management LLC lifted its position in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) by 48.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 348,820 shares of the company's stock after purchasing an additional 113,820 shares during the period. Day One Biopharmaceuticals comprises 2.7% of Stonepine Capital Management LLC's investment portfolio, making the stock its 13th largest holding. Stonepine Capital Management LLC owned approximately 0.34% of Day One Biopharmaceuticals worth $2,766,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Virtus ETF Advisers LLC boosted its holdings in Day One Biopharmaceuticals by 7.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 27,296 shares of the company's stock valued at $346,000 after acquiring an additional 1,805 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Day One Biopharmaceuticals by 5.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,843 shares of the company's stock valued at $454,000 after acquiring an additional 1,894 shares during the last quarter. GF Fund Management CO. LTD. bought a new stake in Day One Biopharmaceuticals in the fourth quarter valued at approximately $27,000. Exchange Traded Concepts LLC boosted its holdings in Day One Biopharmaceuticals by 19.6% in the first quarter. Exchange Traded Concepts LLC now owns 14,693 shares of the company's stock valued at $117,000 after acquiring an additional 2,407 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its holdings in Day One Biopharmaceuticals by 2.3% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 146,385 shares of the company's stock valued at $1,855,000 after acquiring an additional 3,250 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Day One Biopharmaceuticals news, insider Adam Dubow sold 4,365 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $6.77, for a total value of $29,551.05. Following the completion of the transaction, the insider owned 54,858 shares in the company, valued at $371,388.66. This represents a 7.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Charles N. York II sold 4,106 shares of the company's stock in a transaction 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 owned 278,000 shares of the company's stock, valued at $1,882,060. This trade represents a 1.46% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,295 shares of company stock worth $191,557 over the last 90 days. Company insiders own 6.20% of the company's stock.

Day One Biopharmaceuticals Stock Down 2.2%

NASDAQ DAWN traded down $0.17 on Friday, reaching $7.43. The company had a trading volume of 321,064 shares, compared to its average volume of 1,366,913. The stock has a market capitalization of $760.54 million, a P/E ratio of -7.79 and a beta of -1.26. The company's fifty day moving average is $6.70 and its 200 day moving average is $7.51. Day One Biopharmaceuticals, Inc. has a 52-week low of $5.64 and a 52-week high of $16.76.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $33.91 million during the quarter, compared to the consensus estimate of $35.55 million. Day One Biopharmaceuticals had a negative return on equity of 19.01% and a negative net margin of 50.63%. On average, research analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wedbush restated an "outperform" rating and set a $25.00 price target on shares of Day One Biopharmaceuticals in a report on Wednesday, May 7th. Needham & Company LLC cut their price target on Day One Biopharmaceuticals from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. HC Wainwright cut 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. Finally, Piper Sandler assumed coverage on Day One Biopharmaceuticals in a report on Monday, August 18th. They set an "overweight" rating and a $25.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $25.29.

About Day One Biopharmaceuticals

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.