Day One Biopharmaceuticals, Inc. $DAWN Shares Bought by Parkman Healthcare Partners LLC

Key Points

• Parkman Healthcare Partners LLC increased its stake in Day One Biopharmaceuticals by 4.3%, acquiring 42,688 shares, bringing its total ownership to approximately 1.03% valued at $8.27 million.
• Analysts have mixed sentiments on the stock, with Needham & Company lowering its price target from $18 to $16, while Piper Sandler set a higher target of $25, indicating a diverse range of expectations.
• Day One Biopharmaceuticals reported earnings of ($0.29) per share, beating estimates, and had a revenue of $33.91 million during the last quarter, slightly below analyst expectations of $35.55 million.

Parkman Healthcare Partners LLC boosted its position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) by 4.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,043,162 shares of the company's stock after purchasing an additional 42,688 shares during the quarter. Parkman Healthcare Partners LLC owned about 1.03% of Day One Biopharmaceuticals worth $8,272,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in DAWN. Dimensional Fund Advisors LP raised its stake in Day One Biopharmaceuticals by 10.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 927,017 shares of the company's stock valued at $11,745,000 after purchasing an additional 90,822 shares during the last quarter. Northern Trust Corp raised its stake in Day One Biopharmaceuticals by 10.5% in the 4th quarter. Northern Trust Corp now owns 547,050 shares of the company's stock valued at $6,931,000 after purchasing an additional 51,960 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in Day One Biopharmaceuticals in the 4th quarter valued at about $465,000. Balyasny Asset Management L.P. acquired a new position in Day One Biopharmaceuticals in the 4th quarter valued at about $373,000. Finally, Bridgefront Capital LLC acquired a new position in Day One Biopharmaceuticals in the 4th quarter valued at about $239,000. Institutional investors and hedge funds own 87.95% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on DAWN. HC Wainwright cut their target price on shares of Day One Biopharmaceuticals from $36.00 to $25.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Piper Sandler initiated coverage on Day One Biopharmaceuticals in a report on Monday, August 18th. They issued an "overweight" rating and a $25.00 price target for the company. Finally, Needham & Company LLC cut their price objective on shares of Day One Biopharmaceuticals from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $25.29.

Day One Biopharmaceuticals Stock Down 0.8%

Shares of NASDAQ DAWN traded down $0.06 during midday trading on Tuesday, hitting $7.41. The stock had a trading volume of 567,537 shares, compared to its average volume of 1,202,471. The company has a market capitalization of $759.01 million, a price-to-earnings ratio of -7.80 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. The company has a fifty day moving average price of $6.86 and a 200 day moving average price of $7.22.

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

Insider Transactions at Day One Biopharmaceuticals

In other news, insider Lauren Merendino sold 3,766 shares of Day One Biopharmaceuticals stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $6.77, for a total value of $25,495.82. Following the transaction, the insider directly owned 41,931 shares of the company's stock, valued at $283,872.87. The trade was a 8.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jeremy Bender sold 16,058 shares of Day One Biopharmaceuticals stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $6.77, for a total value of $108,712.66. Following the completion of the transaction, the chief executive officer directly owned 161,365 shares in the company, valued at $1,092,441.05. This represents a 9.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,295 shares of company stock valued at $191,557. 6.20% of the stock is currently owned by company insiders.

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.