Two Sigma Investments LP Lowers Stock Position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Two Sigma Investments LP lessened its stake in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) by 33.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 271,776 shares of the company's stock after selling 135,725 shares during the quarter. Two Sigma Investments LP owned about 0.27% of Day One Biopharmaceuticals worth $3,443,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. FMR LLC raised its stake in Day One Biopharmaceuticals by 73.9% during the fourth quarter. FMR LLC now owns 12,887,467 shares of the company's stock worth $163,284,000 after acquiring an additional 5,475,087 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Day One Biopharmaceuticals by 0.3% in the 4th quarter. Franklin Resources Inc. now owns 3,882,952 shares of the company's stock valued at $49,197,000 after acquiring an additional 13,320 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 worth $47,092,000 after acquiring an additional 972,997 shares in the last quarter. Pictet Asset Management Holding SA raised its holdings in Day One Biopharmaceuticals by 17.0% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,490,064 shares of the company's stock worth $44,219,000 after buying an additional 507,398 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new stake in Day One Biopharmaceuticals in the 4th quarter valued at approximately $31,829,000. Institutional investors and hedge funds own 87.95% of the company's stock.

Insider Buying and Selling

In other news, General Counsel Adam Dubow sold 4,552 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $6.26, for a total transaction of $28,495.52. Following the transaction, the general counsel now owns 47,136 shares of the company's stock, valued at approximately $295,071.36. The trade was a 8.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeremy Bender sold 13,964 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $6.26, for a total transaction of $87,414.64. Following the completion of the sale, the chief executive officer now directly owns 145,737 shares of the company's stock, valued at approximately $912,313.62. The trade was a 8.74% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,725 shares of company stock worth $167,299. Insiders own 6.20% of the company's stock.

Day One Biopharmaceuticals Trading Down 2.3%

Day One Biopharmaceuticals stock traded down $0.16 during mid-day trading on Tuesday, hitting $6.85. The stock had a trading volume of 199,100 shares, compared to its average volume of 1,116,824. Day One Biopharmaceuticals, Inc. has a one year low of $6.08 and a one year high of $16.76. The firm has a market capitalization of $694.33 million, a P/E ratio of -6.65 and a beta of -1.24. The firm's 50 day moving average is $7.02 and its 200 day moving average is $10.10.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported ($0.35) EPS for the quarter, topping analysts' consensus estimates of ($0.46) by $0.11. The firm had revenue of $30.76 million during the quarter, compared to analysts' expectations of $30.28 million. As a group, equities research analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on DAWN shares. JPMorgan Chase & Co. reduced their target price on Day One Biopharmaceuticals from $39.00 to $34.00 and set an "overweight" rating for the company in a research note on Wednesday, March 5th. Needham & Company LLC decreased their price target on shares of Day One Biopharmaceuticals from $30.00 to $27.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Wedbush reissued an "outperform" rating and set a $25.00 target price on shares of Day One Biopharmaceuticals in a research report on Wednesday, May 7th. The Goldman Sachs Group reduced their price objective on Day One Biopharmaceuticals from $39.00 to $27.00 and set a "buy" rating for the company in a research note on Tuesday, March 25th. Finally, HC Wainwright restated a "buy" rating and issued a $36.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, April 3rd. Seven equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $30.57.

About Day One Biopharmaceuticals

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.