Day One Biopharmaceuticals, Inc. $DAWN Shares Purchased by Vestal Point Capital LP

Key Points

• Vestal Point Capital LP increased its stake in Day One Biopharmaceuticals by 80.4%, now holding a total of 2,598,127 shares valued at approximately $20.6 million.
• Day One Biopharmaceuticals reported a quarterly EPS of ($0.29), beating estimates, but had negative net margins of 50.63% and a market cap of $769.25 million.
• Several analysts have set a target price for Day One shares, with an average rating of "Buy" and an average target price of $25.29.

Vestal Point Capital LP grew its stake in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) by 80.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,598,127 shares of the company's stock after purchasing an additional 1,158,127 shares during the period. Day One Biopharmaceuticals makes up approximately 1.5% of Vestal Point Capital LP's portfolio, making the stock its 23rd biggest holding. Vestal Point Capital LP owned about 2.56% of Day One Biopharmaceuticals worth $20,603,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of DAWN. Estuary Capital Management LP increased its holdings 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 valued at $47,092,000 after purchasing an additional 972,997 shares during the period. Algert Global LLC acquired a new position in shares of Day One Biopharmaceuticals in the first quarter valued at approximately $2,945,000. Parkwood LLC purchased a new stake in shares of Day One Biopharmaceuticals in the fourth quarter valued at approximately $3,484,000. Hudson Bay Capital Management LP boosted its stake in shares of 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 valued at $11,658,000 after buying an additional 200,000 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Day One Biopharmaceuticals in the first quarter valued at approximately $1,107,000. Institutional investors and hedge funds own 87.95% of the company's stock.

Analyst Ratings Changes

A number of analysts recently weighed in on DAWN shares. Needham & Company LLC decreased their price target on Day One Biopharmaceuticals from $18.00 to $16.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Piper Sandler started coverage on Day One Biopharmaceuticals in a research note on Monday, August 18th. They issued an "overweight" rating and a $25.00 price target on the stock. Finally, HC Wainwright decreased their price target on 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 equities research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $25.29.

Insider Buying and Selling

In other news, CEO Jeremy Bender sold 16,058 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $6.77, for a total value of $108,712.66. Following the sale, the chief executive officer directly owned 161,365 shares in the company, valued at $1,092,441.05. This represents a 9.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Lauren Merendino sold 3,766 shares of the company's 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 sale, the insider owned 41,931 shares in the company, valued at $283,872.87. This represents a 8.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,295 shares of company stock valued at $191,557 over the last three months. Insiders own 6.20% of the company's stock.

Day One Biopharmaceuticals Price Performance

DAWN traded up $0.14 during trading on Friday, reaching $7.55. 899,733 shares of the stock were exchanged, compared to its average volume of 1,308,374. The business's 50 day moving average price is $6.82 and its two-hundred day moving average price is $7.32. The company has a market capitalization of $773.35 million, a price-to-earnings ratio of -7.95 and a beta of -1.25. Day One Biopharmaceuticals, Inc. has a 1 year low of $5.64 and a 1 year high of $16.76.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.29) EPS 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 the consensus estimate of $35.55 million. On average, analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

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.