Vanguard Group Inc. Boosts Stock Position in Day One Biopharmaceuticals, Inc. $DAWN

Key Points

• Vanguard Group Inc. increased its stake in Day One Biopharmaceuticals by 1.6%, now holding approximately 5,943,243 shares valued at $47.13 million.
• Day One Biopharmaceuticals reported a quarterly earnings loss of ($0.29) EPS, exceeding analyst expectations while its revenue fell short at $33.91 million.
• Multiple analysts have recently downgraded their target price for Day One Biopharmaceuticals, with a consensus rating of "Buy" and an average price target of $25.29.

Vanguard Group Inc. boosted its position in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,943,243 shares of the company's stock after buying an additional 94,320 shares during the period. Vanguard Group Inc. owned 5.86% of Day One Biopharmaceuticals worth $47,130,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. GF Fund Management CO. LTD. purchased a new stake in Day One Biopharmaceuticals during the 4th quarter worth approximately $27,000. Tower Research Capital LLC TRC increased its stake in Day One Biopharmaceuticals by 911.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,657 shares of the company's stock worth $135,000 after buying an additional 9,603 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in Day One Biopharmaceuticals during the 1st quarter worth approximately $87,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Day One Biopharmaceuticals during the 1st quarter worth approximately $88,000. Finally, Man Group plc acquired a new position in shares of Day One Biopharmaceuticals during the 4th quarter worth approximately $162,000. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on DAWN shares. Piper Sandler started coverage on Day One Biopharmaceuticals in a report on Monday, August 18th. They set an "overweight" rating and a $25.00 target price on the stock. HC Wainwright cut their target price on Day One Biopharmaceuticals from $36.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, August 6th. Needham & Company LLC cut their target price 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, Wedbush reissued an "outperform" rating and issued a $25.00 target price on shares of Day One Biopharmaceuticals in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $25.29.

Day One Biopharmaceuticals Stock Performance

Shares of Day One Biopharmaceuticals stock remained flat at $7.59 during trading hours on Thursday. The stock had a trading volume of 984,936 shares, compared to its average volume of 2,084,472. Day One Biopharmaceuticals, Inc. has a 1-year low of $5.64 and a 1-year high of $16.76. The firm has a 50-day moving average of $6.70 and a two-hundred day moving average of $7.51. The company has a market capitalization of $777.44 million, a price-to-earnings ratio of -7.99 and a beta of -1.26.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $33.91 million for the quarter, compared to analyst estimates of $35.55 million. As a group, sell-side analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Adam Dubow sold 4,365 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $6.77, for a total value of $29,551.05. Following the transaction, the insider 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Lauren Merendino sold 3,766 shares of the stock in a transaction on Monday, August 18th. The shares were sold at an average price of $6.77, for a total value of $25,495.82. Following the completion of the transaction, the insider directly owned 41,931 shares in the company, valued at $283,872.87. This trade represents a 8.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,295 shares of company stock worth $191,557 over the last ninety days. Insiders own 6.20% of the company's stock.

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.