Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Holdings Cut 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 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 116,565 shares of the company's stock after selling 55,149 shares during the quarter. BIT Capital GmbH owned approximately 0.12% of Day One Biopharmaceuticals worth $924,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in Day One Biopharmaceuticals by 73.9% in the 4th quarter. FMR LLC now owns 12,887,467 shares of the company's stock valued at $163,284,000 after purchasing an additional 5,475,087 shares in the last quarter. Franklin Resources Inc. lifted its holdings in Day One Biopharmaceuticals by 0.3% in the 4th quarter. Franklin Resources Inc. now owns 3,882,952 shares of the company's stock valued at $49,197,000 after purchasing an additional 13,320 shares in the last quarter. Estuary Capital Management LP lifted its holdings in Day One Biopharmaceuticals by 35.5% in the 4th quarter. Estuary Capital Management LP now owns 3,716,777 shares of the company's stock valued at $47,092,000 after purchasing an additional 972,997 shares in the last quarter. Alyeska Investment Group L.P. purchased a new position in Day One Biopharmaceuticals in the 4th quarter valued at $31,829,000. Finally, Geode Capital Management LLC lifted its holdings in Day One Biopharmaceuticals by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 1,462,982 shares of the company's stock valued at $18,541,000 after purchasing an additional 30,285 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. HC Wainwright cut their target price on Day One Biopharmaceuticals from $36.00 to $25.00 and set a "buy" rating for the company in a research note on Wednesday. Needham & Company LLC cut their target price on Day One Biopharmaceuticals from $18.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday. Finally, Wedbush reissued an "outperform" rating and set a $25.00 price objective on shares of Day One Biopharmaceuticals in a research report on Wednesday, May 7th. Six research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Day One Biopharmaceuticals presently has an average rating of "Buy" and an average target price of $25.33.

Insider Buying and Selling at Day One Biopharmaceuticals

In related news, CFO Charles N. York II sold 4,282 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $6.26, for a total transaction of $26,805.32. Following the completion of the transaction, the chief financial officer owned 265,231 shares of the company's stock, valued at approximately $1,660,346.06. This represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, the general counsel directly owned 47,136 shares of the company's stock, valued at $295,071.36. This represents a 8.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,725 shares of company stock worth $167,299. 6.20% of the stock is owned by corporate insiders.

Day One Biopharmaceuticals Stock Up 4.6%

Shares of NASDAQ DAWN traded up $0.26 during mid-day trading on Thursday, hitting $6.06. 968,021 shares of the company were exchanged, compared to its average volume of 1,353,429. The firm has a market cap of $614.65 million, a price-to-earnings ratio of -6.38 and a beta of -1.26. The stock has a 50 day simple moving average of $6.71 and a 200-day simple moving average of $8.14. 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 issued its quarterly earnings results on Tuesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.35) by $0.06. Day One Biopharmaceuticals had a negative net margin of 50.63% and a negative return on equity of 18.53%. The business had revenue of $33.91 million for the quarter, compared to analyst estimates of $35.55 million. Analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

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.