Alyeska Investment Group L.P. Boosts Stock Holdings in Day One Biopharmaceuticals, Inc. $DAWN

Key Points

• Alyeska Investment Group L.P. increased its holdings in Day One Biopharmaceuticals by 61.6%, owning over 4 million shares valued at approximately $32.2 million as of its latest SEC filing.
• Wall Street analysts have adjusted their price targets for Day One Biopharmaceuticals, with HC Wainwright and Needham both lowering their targets to $25.00 and $16.00, respectively, while maintaining a "buy" rating.
• Day One Biopharmaceuticals reported earnings of ($0.29) per share, surpassing analysts' expectations, but revenue of $33.91 million fell short of the forecast of $35.55 million.

Alyeska Investment Group L.P. raised its position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) by 61.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,059,764 shares of the company's stock after buying an additional 1,547,577 shares during the period. Alyeska Investment Group L.P. owned about 4.01% of Day One Biopharmaceuticals worth $32,194,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DAWN. GF Fund Management CO. LTD. purchased a new position in Day One Biopharmaceuticals in the fourth quarter valued at $27,000. Quantbot Technologies LP purchased a new position in Day One Biopharmaceuticals in the first quarter valued at $82,000. Pallas Capital Advisors LLC purchased a new position in Day One Biopharmaceuticals in the first quarter valued at $87,000. Wealth Enhancement Advisory Services LLC purchased a new position in Day One Biopharmaceuticals in the first quarter valued at $88,000. Finally, Magnetar Financial LLC purchased a new position in Day One Biopharmaceuticals in the first quarter valued at $90,000. Hedge funds and other institutional investors own 87.95% of the company's stock.

Day One Biopharmaceuticals Price Performance

NASDAQ DAWN traded down $0.08 during trading hours on Tuesday, hitting $7.40. 147,127 shares of the company's stock traded hands, compared to its average volume of 1,351,533. Day One Biopharmaceuticals, Inc. has a 52-week low of $5.64 and a 52-week high of $16.76. The company has a market capitalization of $757.47 million, a PE ratio of -7.79 and a beta of -1.25. The firm's 50-day moving average is $6.84 and its 200-day moving average is $7.22.

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 the consensus estimate of ($0.35) by $0.06. Day One Biopharmaceuticals had a negative net margin of 50.63% and a negative return on equity of 19.01%. The company had revenue of $33.91 million during the quarter, compared to analysts' expectations of $35.55 million. Equities research analysts predict that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on DAWN. Piper Sandler began coverage on shares of Day One Biopharmaceuticals in a research note on Monday, August 18th. They set an "overweight" rating and a $25.00 target price for the company. Needham & Company LLC lowered their price objective 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. Finally, HC Wainwright lowered their price objective 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. One equities research analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $25.29.

Insider Buying and Selling at Day One Biopharmaceuticals

In related news, insider Lauren Merendino sold 3,766 shares of the company'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 completion of the sale, the insider owned 41,931 shares of the company's stock, valued at approximately $283,872.87. This represents a 8.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeremy Bender sold 16,058 shares of the business'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 $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. The trade was a 9.05% decrease in their ownership of the stock. 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. 6.20% of the stock is currently owned by insiders.

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.