Vestal Point Capital LP Reduces Position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Vestal Point Capital LP cut its position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) by 42.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,440,000 shares of the company's stock after selling 1,060,000 shares during the period. Vestal Point Capital LP owned about 1.43% of Day One Biopharmaceuticals worth $18,245,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of DAWN. SG Americas Securities LLC bought a new position in Day One Biopharmaceuticals in the 4th quarter worth $866,000. MetLife Investment Management LLC lifted its position in shares of Day One Biopharmaceuticals by 12.4% in the fourth quarter. MetLife Investment Management LLC now owns 34,248 shares of the company's stock valued at $434,000 after acquiring an additional 3,781 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Day One Biopharmaceuticals by 90.6% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 121,167 shares of the company's stock valued at $1,535,000 after acquiring an additional 57,601 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Day One Biopharmaceuticals by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 535,501 shares of the company's stock worth $6,785,000 after acquiring an additional 28,053 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Day One Biopharmaceuticals by 43.4% during the fourth quarter. Bank of New York Mellon Corp now owns 244,829 shares of the company's stock worth $3,102,000 after purchasing an additional 74,091 shares in the last quarter. 87.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Day One Biopharmaceuticals

In other news, CFO Charles N. York II sold 4,282 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 $26,805.32. Following the transaction, the chief financial officer now owns 265,231 shares of the company's stock, valued at approximately $1,660,346.06. The trade was a 1.59% 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 on Friday, May 16th. The stock was sold at an average price of $6.26, for a total value of $87,414.64. Following the completion of the sale, the chief executive officer now owns 145,737 shares of the company's stock, valued at approximately $912,313.62. This represents a 8.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,725 shares of company stock worth $167,299 over the last ninety days. Company insiders own 6.20% of the company's stock.

Day One Biopharmaceuticals Trading Down 0.3%

Shares of DAWN stock traded down $0.02 on Thursday, reaching $6.27. The company's stock had a trading volume of 1,025,954 shares, compared to its average volume of 1,113,401. The company has a market capitalization of $635.54 million, a price-to-earnings ratio of -6.09 and a beta of -1.24. The stock's fifty day simple moving average is $7.32 and its 200-day simple moving average is $10.65. Day One Biopharmaceuticals, Inc. has a 1 year low of $6.08 and a 1 year high of $16.76.

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

Analysts Set New Price Targets

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

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.