Trexquant Investment LP Acquires 116,810 Shares of Day One Biopharmaceuticals, Inc. $DAWN

Key Points

• Trexquant Investment LP significantly increased its holdings in Day One Biopharmaceuticals, acquiring 116,810 shares and raising its total ownership by 132.8% to 204,782 shares, valued at approximately $1.62 million.
• Several hedge funds made new investments in Day One Biopharmaceuticals, with institutional investors now owning 87.95% of the company's stock.
• Analyst target prices for Day One Biopharmaceuticals have been adjusted, with notable reductions from HC Wainwright and Needham & Company, both setting revised targets of $25.00 and $16.00 respectively.

Trexquant Investment LP lifted its position in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) by 132.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 204,782 shares of the company's stock after purchasing an additional 116,810 shares during the period. Trexquant Investment LP owned about 0.20% of Day One Biopharmaceuticals worth $1,624,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in DAWN. GF Fund Management CO. LTD. bought a new stake in shares of Day One Biopharmaceuticals during the fourth quarter worth about $27,000. Quantbot Technologies LP bought a new stake in Day One Biopharmaceuticals in the first quarter valued at approximately $82,000. Pallas Capital Advisors LLC bought a new stake in Day One Biopharmaceuticals in the first quarter valued at approximately $87,000. Wealth Enhancement Advisory Services LLC bought a new stake in Day One Biopharmaceuticals in the first quarter valued at approximately $88,000. Finally, American Century Companies Inc. bought a new stake in Day One Biopharmaceuticals in the first quarter valued at approximately $114,000. 87.95% of the stock is currently owned by institutional investors.

Insider Transactions at Day One Biopharmaceuticals

In other news, insider Adam Dubow sold 4,365 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 $29,551.05. Following the transaction, the insider directly owned 54,858 shares of the company's stock, valued at $371,388.66. This represents a 7.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Lauren Merendino sold 3,766 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 value 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 disclosure for this sale can be found here. Insiders sold 28,295 shares of company stock valued at $191,557 over the last ninety days. Company insiders own 6.20% of the company's stock.

Analysts Set New Price Targets

DAWN has been the topic of several analyst reports. HC Wainwright reduced their target price on Day One Biopharmaceuticals from $36.00 to $25.00 and set a "buy" rating on the stock in a report 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 target price on the stock. Finally, Needham & Company LLC reduced their target price on 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 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 an average price target of $25.29.

Day One Biopharmaceuticals Stock Performance

Shares of DAWN opened at $7.55 on Friday. Day One Biopharmaceuticals, Inc. has a 52-week low of $5.64 and a 52-week high of $16.76. The business's 50 day moving average price is $6.82 and its two-hundred day moving average price is $7.32. The firm has a market cap of $773.35 million, a PE ratio of -7.95 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 for the quarter, topping analysts' consensus estimates 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 company had revenue of $33.91 million for the quarter, compared to analyst estimates of $35.55 million. Research analysts predict that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.