Dynamic Technology Lab Private Ltd Purchases Shares of 48,457 Day One Biopharmaceuticals, Inc. $DAWN

Key Points

• Dynamic Technology Lab Private Ltd has invested $384,000 in Day One Biopharmaceuticals, acquiring 48,457 shares, further solidifying interest from institutional investors.
• Analysts have adjusted their price targets for Day One Biopharmaceuticals, with ratings ranging from "buy" to "overweight" and a consensus price target of $25.29.
• Insider trading activity shows that executives, including CFO Charles N. York II and other insiders, have sold shares recently, indicating possible profit-taking or changes in investment strategy.

Dynamic Technology Lab Private Ltd acquired a new stake in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 48,457 shares of the company's stock, valued at approximately $384,000.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Day One Biopharmaceuticals by 1.6% in the first quarter. Vanguard Group Inc. now owns 5,943,243 shares of the company's stock valued at $47,130,000 after buying an additional 94,320 shares during the period. Alyeska Investment Group L.P. raised its position in shares of Day One Biopharmaceuticals by 61.6% during the first quarter. Alyeska Investment Group L.P. now owns 4,059,764 shares of the company's stock worth $32,194,000 after purchasing an additional 1,547,577 shares during the period. Vestal Point Capital LP raised its position in shares of Day One Biopharmaceuticals by 80.4% during the first quarter. Vestal Point Capital LP now owns 2,598,127 shares of the company's stock worth $20,603,000 after purchasing an additional 1,158,127 shares during the period. Millennium Management LLC raised its position in shares of Day One Biopharmaceuticals by 587.2% during the first quarter. Millennium Management LLC now owns 1,320,095 shares of the company's stock worth $10,468,000 after purchasing an additional 1,127,995 shares during the period. Finally, Parkman Healthcare Partners LLC raised its position in shares of Day One Biopharmaceuticals by 4.3% during the first quarter. Parkman Healthcare Partners LLC now owns 1,043,162 shares of the company's stock worth $8,272,000 after purchasing an additional 42,688 shares during the period. Institutional investors and hedge funds own 87.95% of the company's stock.

Day One Biopharmaceuticals Stock Performance

Shares of DAWN traded down $0.01 during trading hours on Wednesday, hitting $7.11. 201,672 shares of the company were exchanged, compared to its average volume of 1,333,171. The company has a market cap of $727.77 million, a PE ratio of -7.49 and a beta of -1.25. The firm's 50 day moving average is $6.91 and its 200-day moving average is $7.10. Day One Biopharmaceuticals, Inc. has a 52 week low of $5.64 and a 52 week high of $16.76.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.06. Day One Biopharmaceuticals had a negative return on equity of 19.01% and a negative net margin of 50.63%.The company had revenue of $33.91 million during the quarter, compared to the consensus estimate of $35.55 million. As a group, equities analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DAWN. HC Wainwright cut their target price on Day One Biopharmaceuticals from $36.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Needham & Company LLC dropped their price target on Day One Biopharmaceuticals from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Finally, Piper Sandler began coverage on Day One Biopharmaceuticals in a research report on Monday, August 18th. They issued an "overweight" rating and a $25.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $25.29.

Insiders Place Their Bets

In related news, insider Lauren Merendino sold 3,766 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was 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 in the company, valued at $283,872.87. This represents a 8.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Adam Dubow sold 4,365 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $6.77, for a total value of $29,551.05. Following the sale, the insider owned 54,858 shares of the company's stock, valued at approximately $371,388.66. The trade was a 7.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,295 shares of company stock worth $191,557 in the last 90 days. 6.20% of the stock is owned by company insiders.

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.