Millennium Management LLC Purchases 85,606 Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Millennium Management LLC raised its stake in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) by 80.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 192,100 shares of the company's stock after buying an additional 85,606 shares during the period. Millennium Management LLC owned about 0.19% of Day One Biopharmaceuticals worth $2,434,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in DAWN. R Squared Ltd bought a new stake in Day One Biopharmaceuticals during the fourth quarter valued at approximately $31,000. China Universal Asset Management Co. Ltd. grew its position in shares of Day One Biopharmaceuticals by 11.4% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 21,383 shares of the company's stock valued at $271,000 after acquiring an additional 2,180 shares during the period. Handelsbanken Fonder AB increased its stake in shares of Day One Biopharmaceuticals by 16.7% in the 4th quarter. Handelsbanken Fonder AB now owns 31,500 shares of the company's stock worth $399,000 after purchasing an additional 4,500 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Day One Biopharmaceuticals by 43.4% in the 4th quarter. Bank of New York Mellon Corp now owns 244,829 shares of the company's stock worth $3,102,000 after purchasing an additional 74,091 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in Day One Biopharmaceuticals by 21.6% in the 4th quarter. Fisher Asset Management LLC now owns 89,132 shares of the company's stock worth $1,129,000 after purchasing an additional 15,831 shares during the period. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on DAWN. The Goldman Sachs Group cut their price target on Day One Biopharmaceuticals from $39.00 to $27.00 and set a "buy" rating for the company in a report on Tuesday, March 25th. HC Wainwright reiterated a "buy" rating and set a $36.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, April 3rd. Needham & Company LLC decreased their target price on shares of Day One Biopharmaceuticals from $30.00 to $27.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Wedbush reaffirmed an "outperform" rating and set a $25.00 price target on shares of Day One Biopharmaceuticals in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Day One Biopharmaceuticals from $39.00 to $34.00 and set an "overweight" rating for the company in a research note on Wednesday, March 5th. Seven analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $30.57.

Insider Buying and Selling at Day One Biopharmaceuticals

In related news, CFO Charles N. York II sold 4,282 shares of the stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $6.26, for a total value of $26,805.32. Following the completion of the transaction, the chief financial officer now owns 265,231 shares of the company's stock, valued at approximately $1,660,346.06. This trade represents a 1.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel Adam Dubow sold 4,552 shares of Day One Biopharmaceuticals stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $6.26, for a total value of $28,495.52. Following the completion of the transaction, the general counsel now owns 47,136 shares of the company's stock, valued at approximately $295,071.36. This represents a 8.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,725 shares of company stock valued at $167,299 in the last 90 days. Insiders own 6.20% of the company's stock.

Day One Biopharmaceuticals Stock Down 0.4%

DAWN stock traded down $0.03 during midday trading on Tuesday, hitting $6.98. The company's stock had a trading volume of 1,709,445 shares, compared to its average volume of 1,122,709. Day One Biopharmaceuticals, Inc. has a 12 month low of $6.08 and a 12 month high of $16.76. The company has a 50 day moving average of $7.02 and a two-hundred day moving average of $10.10. The firm has a market capitalization of $707.51 million, a price-to-earnings ratio of -6.78 and a beta of -1.24.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.35) earnings per share for the quarter, topping analysts' consensus estimates of ($0.46) by $0.11. The company had revenue of $30.76 million for the quarter, compared to the consensus estimate of $30.28 million. On average, analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

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.