GC Wealth Management RIA LLC Invests $520,000 in Day One Biopharmaceuticals, Inc. $DAWN

Key Points

• GC Wealth Management RIA LLC invested approximately $520,000 in Day One Biopharmaceuticals, acquiring 80,000 shares during the 2nd quarter, representing about 0.08% ownership of the company.
• Day One Biopharmaceuticals reported a loss of $0.29 earnings per share in the latest quarter, beating analysts' estimates, with revenues of $33.91 million against expectations of $35.55 million.
• A significant portion of Day One Biopharmaceuticals' stock, approximately 87.95%, is owned by hedge funds and institutional investors, indicating strong institutional interest in the company.

GC Wealth Management RIA LLC purchased a new position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 80,000 shares of the company's stock, valued at approximately $520,000. GC Wealth Management RIA LLC owned approximately 0.08% of Day One Biopharmaceuticals at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quantbot Technologies LP purchased a new position in shares of Day One Biopharmaceuticals in the first quarter worth about $82,000. Pallas Capital Advisors LLC purchased a new position in shares of Day One Biopharmaceuticals in the first quarter worth about $87,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Day One Biopharmaceuticals in the first quarter worth about $88,000. Magnetar Financial LLC purchased a new position in shares of Day One Biopharmaceuticals in the first quarter worth about $90,000. Finally, American Century Companies Inc. purchased a new position in Day One Biopharmaceuticals during the first quarter worth about $114,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

Day One Biopharmaceuticals Stock Performance

Day One Biopharmaceuticals stock opened at $7.05 on Wednesday. The company's 50 day simple moving average is $6.95 and its 200-day simple moving average is $6.98. The company has a market capitalization of $722.13 million, a price-to-earnings ratio of -7.42 and a beta of -1.25. 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 announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.29) earnings per share for the quarter, beating analysts' consensus estimates of ($0.35) by $0.06. The firm had revenue of $33.91 million during the quarter, compared to analysts' expectations of $35.55 million. Day One Biopharmaceuticals had a negative net margin of 50.63% and a negative return on equity of 19.01%. Equities analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current year.

Insider Activity

In other Day One Biopharmaceuticals news, insider Lauren Merendino sold 3,766 shares of the business's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $6.77, for a total transaction of $25,495.82. Following the completion of the transaction, the insider owned 41,931 shares in the company, valued at $283,872.87. The trade was a 8.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Adam Dubow sold 4,365 shares of the business's 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 $29,551.05. Following the transaction, the insider owned 54,858 shares of the company's stock, valued at $371,388.66. This trade represents a 7.37% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,295 shares of company stock worth $191,557. Insiders own 6.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Needham & Company LLC reduced their target price on shares of Day One Biopharmaceuticals from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. HC Wainwright reduced their target price on shares of Day One Biopharmaceuticals from $36.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Finally, Piper Sandler assumed coverage on shares of Day One Biopharmaceuticals in a research note on Monday, August 18th. They set 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $25.29.

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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