Trexquant Investment LP Buys 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 grew its stake in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) by 132.8% in the 1st quarter, according to 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 quarter. Trexquant Investment LP owned approximately 0.20% of Day One Biopharmaceuticals worth $1,624,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Day One Biopharmaceuticals by 1.6% during the first quarter. Vanguard Group Inc. now owns 5,943,243 shares of the company's stock worth $47,130,000 after buying an additional 94,320 shares during the period. Estuary Capital Management LP grew its holdings in shares of Day One Biopharmaceuticals by 35.5% during the 4th quarter. Estuary Capital Management LP now owns 3,716,777 shares of the company's stock valued at $47,092,000 after acquiring an additional 972,997 shares in the last quarter. Parkman Healthcare Partners LLC boosted its holdings in Day One Biopharmaceuticals by 8.3% in the fourth quarter. Parkman Healthcare Partners LLC now owns 1,000,474 shares of the company's stock worth $12,676,000 after purchasing an additional 76,334 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Day One Biopharmaceuticals by 10.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 927,017 shares of the company's stock worth $11,745,000 after purchasing an additional 90,822 shares in the last quarter. Finally, Hudson Bay Capital Management LP boosted its holdings in Day One Biopharmaceuticals by 27.8% in the fourth quarter. Hudson Bay Capital Management LP now owns 920,108 shares of the company's stock worth $11,658,000 after purchasing an additional 200,000 shares in the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Lauren Merendino sold 3,766 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 $25,495.82. Following the completion of the sale, the insider owned 41,931 shares of the company's stock, valued at approximately $283,872.87. This represents a 8.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 sale, the insider directly owned 54,858 shares of the company's stock, valued at approximately $371,388.66. This trade represents a 7.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,295 shares of company stock worth $191,557. Insiders own 6.20% of the company's stock.

Day One Biopharmaceuticals Trading Up 1.5%

Shares of NASDAQ:DAWN traded up $0.11 on Thursday, reaching $7.37. 969,964 shares of the company's stock were exchanged, compared to its average volume of 1,051,001. The company has a fifty day moving average of $6.88 and a 200-day moving average of $7.18. Day One Biopharmaceuticals, Inc. has a twelve month low of $5.64 and a twelve month high of $16.76. The company has a market capitalization of $754.91 million, a price-to-earnings ratio of -7.76 and a beta of -1.25.

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DAWN. Needham & Company LLC cut their target price on shares of Day One Biopharmaceuticals from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Piper Sandler assumed coverage on shares of Day One Biopharmaceuticals in a research report on Monday, August 18th. They issued an "overweight" rating and a $25.00 price target for the company. Finally, HC Wainwright decreased their price objective 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. One investment 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.com, Day One Biopharmaceuticals presently has a consensus 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.