Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Shares Sold by BIT Capital GmbH

Key Points

• BIT Capital GmbH reduced its holdings in Day One Biopharmaceuticals by 32.1%, selling 55,149 shares in the first quarter and now owns approximately 0.12% of the company, valued at $924,000.
• Day One Biopharmaceuticals reported a quarterly earnings per share (EPS) of ($0.35), exceeding analysts' expectations by $0.11, with revenues of $30.76 million during the same period.
• Insider trading activity included the CEO selling 13,964 shares for a total of $87,414.64, leading to an 8.74% decrease in his ownership of the stock.

BIT Capital GmbH lessened its stake in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) by 32.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,565 shares of the company's stock after selling 55,149 shares during the period. BIT Capital GmbH owned about 0.12% of Day One Biopharmaceuticals worth $924,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in DAWN. GF Fund Management CO. LTD. bought a new stake in shares of Day One Biopharmaceuticals in the fourth quarter worth $27,000. Pallas Capital Advisors LLC bought a new stake in shares of Day One Biopharmaceuticals in the first quarter worth $87,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Day One Biopharmaceuticals in the first quarter worth $88,000. Exchange Traded Concepts LLC increased its stake in shares of Day One Biopharmaceuticals by 19.6% in the first quarter. Exchange Traded Concepts LLC now owns 14,693 shares of the company's stock worth $117,000 after buying an additional 2,407 shares during the last quarter. Finally, Cerity Partners LLC bought a new stake in shares of Day One Biopharmaceuticals in the first quarter worth $119,000. Institutional investors own 87.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wedbush restated an "outperform" rating and issued a $25.00 price target on shares of Day One Biopharmaceuticals in a research note on Wednesday, May 7th. Needham & Company LLC lowered their target price on shares of Day One Biopharmaceuticals from $30.00 to $27.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Six equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $29.00.

Insider Activity

In other news, General Counsel Adam Dubow sold 4,552 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.26, for a total transaction of $28,495.52. Following the completion of the transaction, the general counsel owned 47,136 shares of the company's stock, valued at approximately $295,071.36. The trade was a 8.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Jeremy Bender sold 13,964 shares of the business's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.26, for a total transaction of $87,414.64. Following the transaction, the chief executive officer directly owned 145,737 shares of the company's stock, valued at approximately $912,313.62. This trade represents a 8.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,725 shares of company stock valued at $167,299. 6.20% of the stock is currently owned by company insiders.

Day One Biopharmaceuticals Stock Up 1.4%

DAWN stock traded up $0.10 during trading on Tuesday, hitting $6.84. 1,147,997 shares of the company's stock traded hands, compared to its average volume of 1,279,569. Day One Biopharmaceuticals, Inc. has a 52 week low of $6.08 and a 52 week high of $16.76. The stock has a fifty day moving average price of $6.71 and a two-hundred day moving average price of $8.16. The stock has a market capitalization of $692.80 million, a price-to-earnings ratio of -9.63 and a beta of -1.26.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.46) by $0.11. Day One Biopharmaceuticals had a negative net margin of 42.66% and a negative return on equity of 14.98%. The company had revenue of $30.76 million during the quarter, compared to the consensus estimate of $30.28 million. As a group, equities research analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.

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.