Day One Biopharmaceuticals, Inc. $DAWN Shares Purchased by Alyeska Investment Group L.P.

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

A number of other large investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Day One Biopharmaceuticals by 5.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,843 shares of the company's stock worth $454,000 after purchasing an additional 1,894 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Day One Biopharmaceuticals during the fourth quarter worth $27,000. Exchange Traded Concepts LLC lifted its stake in Day One Biopharmaceuticals by 19.6% during the first quarter. Exchange Traded Concepts LLC now owns 14,693 shares of the company's stock worth $117,000 after purchasing an additional 2,407 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake in Day One Biopharmaceuticals by 2.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 146,385 shares of the company's stock worth $1,855,000 after purchasing an additional 3,250 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Day One Biopharmaceuticals by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 248,380 shares of the company's stock worth $1,970,000 after purchasing an additional 3,551 shares in the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DAWN has been the topic of a number of research reports. HC Wainwright decreased their price target on Day One Biopharmaceuticals from $36.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Needham & Company LLC decreased their price target on Day One Biopharmaceuticals from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Wedbush reiterated an "outperform" rating and issued a $25.00 price objective on shares of Day One Biopharmaceuticals in a research note on Wednesday, May 7th. Finally, Piper Sandler assumed coverage on 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. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $25.29.

Day One Biopharmaceuticals Price Performance

DAWN stock opened at $7.48 on Thursday. The firm has a market capitalization of $766.18 million, a P/E ratio of -7.87 and a beta of -1.25. The business's 50-day moving average is $6.78 and its two-hundred day moving average is $7.38. Day One Biopharmaceuticals, Inc. has a 1 year low of $5.64 and a 1 year high of $16.76.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last posted 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 analyst estimates 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, analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Insiders Place Their Bets

In related news, insider Lauren Merendino sold 3,766 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 $25,495.82. Following the transaction, the insider owned 41,931 shares of the company's stock, valued at $283,872.87. This represents a 8.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Charles N. York II sold 4,106 shares of the 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 directly owned 278,000 shares in the company, valued at $1,882,060. This trade represents a 1.46% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,295 shares of company stock worth $191,557. 6.20% of the stock is owned by corporate 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.

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