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

A number of other large investors have also modified their holdings of the business. Parkman Healthcare Partners LLC grew its holdings 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 buying an additional 42,688 shares in the last quarter. Millennium Management LLC grew its holdings 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 buying an additional 1,127,995 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Day One Biopharmaceuticals by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,992 shares of the company's stock worth $302,000 after buying an additional 2,149 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Day One Biopharmaceuticals by 601.4% in the first quarter. AQR Capital Management LLC now owns 618,627 shares of the company's stock valued at $4,906,000 after purchasing an additional 530,429 shares during the period. Finally, Alyeska Investment Group L.P. grew its holdings in shares of Day One Biopharmaceuticals by 61.6% in the first quarter. Alyeska Investment Group L.P. now owns 4,059,764 shares of the company's stock valued at $32,194,000 after purchasing an additional 1,547,577 shares during the period. Hedge funds and other institutional investors own 87.95% of the company's stock.

Analyst Upgrades and Downgrades

DAWN has been the subject of a number of analyst reports. HC Wainwright dropped their price objective on shares of Day One Biopharmaceuticals from $36.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Needham & Company LLC dropped their price objective on shares of Day One Biopharmaceuticals from $18.00 to $16.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Finally, Piper Sandler initiated coverage on shares of Day One Biopharmaceuticals in a report on Monday, August 18th. They issued an "overweight" rating and a $25.00 price objective 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, Day One Biopharmaceuticals has a consensus rating of "Buy" and a consensus price target of $25.29.

Insider Activity at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, insider Lauren Merendino sold 3,766 shares of the company's stock in a transaction dated Monday, August 18th. The shares were 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 link. Also, CFO Charles N. York II sold 4,106 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $6.77, for a total transaction 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. The trade was 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 Price Performance

NASDAQ DAWN opened at $7.37 on Friday. The firm's 50-day moving average is $6.88 and its two-hundred day moving average is $7.18. Day One Biopharmaceuticals, Inc. has a 12 month low of $5.64 and a 12 month high of $16.76. The stock has a market capitalization of $754.91 million, a P/E ratio of -7.76 and a beta of -1.25.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.29) EPS for the quarter, beating 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 19.01%. The company had revenue of $33.91 million for the quarter, compared to analysts' expectations of $35.55 million. As a group, analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current 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.

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