34,685 Shares in Day One Biopharmaceuticals, Inc. $DAWN Acquired by Kodai Capital Management LP

Key Points

• Kodai Capital Management LP invested $275,000 in Day One Biopharmaceuticals by acquiring 34,685 shares during the first quarter.
• Day One Biopharmaceuticals reported a quarterly EPS of ($0.29), beating expectations, but with a negative net margin of 50.63%.
• Analysts have adjusted their price targets for Day One Biopharmaceuticals, with the average target now at $25.29, indicating a generally positive outlook for the stock.

Kodai Capital Management LP acquired a new stake in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 34,685 shares of the company's stock, valued at approximately $275,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Day One Biopharmaceuticals by 1.6% during 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. Estuary Capital Management LP lifted its position in Day One Biopharmaceuticals by 35.5% during the fourth quarter. Estuary Capital Management LP now owns 3,716,777 shares of the company's stock valued at $47,092,000 after buying an additional 972,997 shares during the period. Alyeska Investment Group L.P. purchased a new position in Day One Biopharmaceuticals during the fourth quarter valued at $31,829,000. Boxer Capital Management LLC purchased a new position in Day One Biopharmaceuticals during the fourth quarter valued at $15,077,000. Finally, Parkman Healthcare Partners LLC lifted its position in Day One Biopharmaceuticals by 8.3% during the fourth quarter. Parkman Healthcare Partners LLC now owns 1,000,474 shares of the company's stock valued at $12,676,000 after buying an additional 76,334 shares during the period. Hedge funds and other institutional investors own 87.95% of the company's stock.

Day One Biopharmaceuticals Price Performance

NASDAQ DAWN traded down $0.20 during trading hours on Thursday, hitting $7.29. The company's stock had a trading volume of 198,065 shares, compared to its average volume of 1,361,689. Day One Biopharmaceuticals, Inc. has a 12 month low of $5.64 and a 12 month high of $16.76. The company's 50 day simple moving average is $6.78 and its two-hundred day simple moving average is $7.38. The company has a market cap of $746.20 million, a P/E ratio of -7.67 and a beta of -1.25.

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

Insider Buying and Selling

In related news, CFO Charles N. York II sold 4,106 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 $27,797.62. Following the completion of the transaction, the chief financial officer directly owned 278,000 shares in the company, valued at approximately $1,882,060. The trade was a 1.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through 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 shares were sold at an average price of $6.77, for a total value of $29,551.05. Following the transaction, the insider owned 54,858 shares of the company's stock, valued at approximately $371,388.66. This trade represents a 7.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,295 shares of company stock valued at $191,557. Insiders own 6.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Needham & Company LLC reduced their price target on Day One Biopharmaceuticals from $18.00 to $16.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Wedbush restated an "outperform" rating and set a $25.00 price target on shares of Day One Biopharmaceuticals in a report on Wednesday, May 7th. Piper Sandler assumed coverage on Day One Biopharmaceuticals in a report on Monday, August 18th. They set an "overweight" rating and a $25.00 price target for the company. Finally, HC Wainwright reduced their price target on Day One Biopharmaceuticals from $36.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $25.29.

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.