Rafferty Asset Management LLC Sells 40,248 Shares of Day One Biopharmaceuticals, Inc. $DAWN

Key Points

• Rafferty Asset Management LLC reduced its stake in Day One Biopharmaceuticals by 25.2%, owning 119,160 shares worth approximately $945,000 after selling 40,248 shares in the first quarter.
• Day One Biopharmaceuticals reported a loss of $0.29 per share for the last quarter, beating the consensus estimate, with revenues of $33.91 million.
• Analysts have mixed ratings for Day One Biopharmaceuticals, with a consensus target price of $25.29, and several firms adjusting their price objectives in recent reports.

Rafferty Asset Management LLC trimmed its holdings in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) by 25.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 119,160 shares of the company's stock after selling 40,248 shares during the period. Rafferty Asset Management LLC owned approximately 0.12% of Day One Biopharmaceuticals worth $945,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in DAWN. Estuary Capital Management LP lifted its stake in shares of Day One Biopharmaceuticals by 35.5% in the fourth quarter. Estuary Capital Management LP now owns 3,716,777 shares of the company's stock worth $47,092,000 after buying an additional 972,997 shares in the last quarter. Algert Global LLC acquired a new stake in Day One Biopharmaceuticals during the first quarter worth about $2,945,000. Parkwood LLC acquired a new stake in shares of Day One Biopharmaceuticals in the 4th quarter valued at $3,484,000. Hudson Bay Capital Management LP increased its holdings in shares of Day One Biopharmaceuticals by 27.8% in the 4th quarter. Hudson Bay Capital Management LP now owns 920,108 shares of the company's stock valued at $11,658,000 after acquiring an additional 200,000 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Day One Biopharmaceuticals in the 1st quarter worth about $1,107,000. 87.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on DAWN shares. Piper Sandler began coverage on Day One Biopharmaceuticals in a report on Monday, August 18th. They set an "overweight" rating and a $25.00 price target on the stock. Wedbush reissued an "outperform" rating and issued a $25.00 target price on shares of Day One Biopharmaceuticals in a research note on Wednesday, May 7th. HC Wainwright decreased their price target on 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. Finally, Needham & Company LLC lowered 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. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $25.29.

Day One Biopharmaceuticals Price Performance

DAWN stock traded up $0.08 on Wednesday, reaching $7.48. 1,349,361 shares of the company traded hands, compared to its average volume of 1,958,907. The company has a market cap of $766.18 million, a P/E ratio of -7.87 and a beta of -1.25. The firm has a fifty day simple moving average of $6.78 and a 200-day simple moving average of $7.38. Day One Biopharmaceuticals, Inc. has a one year low of $5.64 and a one 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) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.06. Day One Biopharmaceuticals had a negative return on equity of 19.01% and a negative net margin of 50.63%.The business had revenue of $33.91 million for the quarter, compared to the consensus estimate of $35.55 million. On average, sell-side analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Insider Activity at Day One Biopharmaceuticals

In other news, insider Lauren Merendino sold 3,766 shares of the business'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 $25,495.82. Following the transaction, the insider directly owned 41,931 shares in the company, valued at $283,872.87. The trade was a 8.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jeremy Bender sold 16,058 shares of the company'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 $108,712.66. Following the transaction, the chief executive officer directly owned 161,365 shares in the company, valued at $1,092,441.05. The trade was a 9.05% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,295 shares of company stock valued at $191,557. 6.20% of the stock is owned by corporate 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.