Parkman Healthcare Partners LLC Buys 42,688 Shares of Day One Biopharmaceuticals, Inc. $DAWN

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 stake in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) by 4.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,043,162 shares of the company's stock after purchasing an additional 42,688 shares during the period. Parkman Healthcare Partners LLC owned about 1.03% of Day One Biopharmaceuticals worth $8,272,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Alyeska Investment Group L.P. lifted its position in shares of Day One Biopharmaceuticals by 61.6% during the 1st quarter. Alyeska Investment Group L.P. now owns 4,059,764 shares of the company's stock valued at $32,194,000 after buying an additional 1,547,577 shares in the last quarter. Vestal Point Capital LP increased its holdings in Day One Biopharmaceuticals by 80.4% in the 1st quarter. Vestal Point Capital LP now owns 2,598,127 shares of the company's stock worth $20,603,000 after acquiring an additional 1,158,127 shares in the last quarter. Millennium Management LLC raised its stake in Day One Biopharmaceuticals by 587.2% during the 1st quarter. Millennium Management LLC now owns 1,320,095 shares of the company's stock worth $10,468,000 after acquiring an additional 1,127,995 shares during the period. Estuary Capital Management LP lifted its holdings 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 purchasing an additional 972,997 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position 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 worth $4,906,000 after purchasing an additional 530,429 shares during the period. Institutional investors own 87.95% of the company's stock.

Insider Transactions at Day One Biopharmaceuticals

In other news, CEO Jeremy Bender sold 16,058 shares of the company'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 $108,712.66. Following the sale, the chief executive officer directly owned 161,365 shares of the company's stock, valued at $1,092,441.05. This represents a 9.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lauren Merendino sold 3,766 shares of the firm's stock in a transaction 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 directly owned 41,931 shares of the company's stock, valued at approximately $283,872.87. This trade represents a 8.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,295 shares of company stock worth $191,557. 6.20% of the stock is owned by insiders.

Day One Biopharmaceuticals Stock Up 1.5%

DAWN stock traded up $0.11 during mid-day trading on Thursday, hitting $7.37. The company had a trading volume of 969,964 shares, compared to its average volume of 1,349,066. The company has a 50-day moving average price of $6.87 and a 200 day moving average price of $7.22. Day One Biopharmaceuticals, Inc. has a 12-month low of $5.64 and a 12-month high of $16.76. The company has a market capitalization of $754.92 million, a price-to-earnings ratio of -7.76 and a beta of -1.25.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last issued its 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. The firm had revenue of $33.91 million for the quarter, compared to analysts' expectations 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, analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Wall Street Analyst Weigh In

DAWN has been the topic of a number of analyst reports. HC Wainwright lowered 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. Needham & Company LLC lowered their price objective 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 set an "overweight" rating and a $25.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $25.29.

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.