Norges Bank Purchases Shares of 169,000 Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Norges Bank purchased a new stake in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 169,000 shares of the company's stock, valued at approximately $2,141,000. Norges Bank owned approximately 0.17% of Day One Biopharmaceuticals as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DAWN. SG Americas Securities LLC bought a new position in shares of Day One Biopharmaceuticals during the fourth quarter valued at $866,000. Hennion & Walsh Asset Management Inc. grew its position in Day One Biopharmaceuticals by 90.6% in the 4th 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 during the last quarter. Geode Capital Management LLC grew its position in shares of Day One Biopharmaceuticals by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,432,697 shares of the company's stock worth $19,961,000 after buying an additional 136,458 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Day One Biopharmaceuticals by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 535,501 shares of the company's stock valued at $6,785,000 after acquiring an additional 28,053 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Day One Biopharmaceuticals by 142.1% during the 3rd quarter. Wellington Management Group LLP now owns 721,581 shares of the company's stock valued at $10,052,000 after purchasing an additional 423,543 shares during the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Day One Biopharmaceuticals news, CEO Jeremy Bender sold 12,048 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $144,094.08. Following the completion of the sale, the chief executive officer now directly owns 128,015 shares of the company's stock, valued at approximately $1,531,059.40. The trade was a 8.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Charles N. York II sold 4,370 shares of Day One Biopharmaceuticals stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $52,265.20. Following the transaction, the chief financial officer now owns 252,638 shares of the company's stock, valued at $3,021,550.48. This trade represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,064 shares of company stock worth $251,925 over the last three months. Insiders own 8.40% of the company's stock.

Wall Street Analyst Weigh In

DAWN has been the topic of several analyst reports. Needham & Company LLC reaffirmed a "buy" rating and set a $32.00 target price on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. Wedbush reissued an "outperform" rating and issued a $32.00 price objective on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. The Goldman Sachs Group reduced their price objective 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. HC Wainwright reiterated a "buy" rating and set a $36.00 target price on shares of Day One Biopharmaceuticals in a research report on Thursday, April 3rd. Finally, JPMorgan Chase & Co. decreased their price target on Day One Biopharmaceuticals from $39.00 to $34.00 and set an "overweight" rating for the company in a report on Wednesday, March 5th. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $32.29.

Day One Biopharmaceuticals Price Performance

Shares of DAWN stock traded up $0.05 during trading hours on Thursday, hitting $6.81. 384,631 shares of the company's stock were exchanged, compared to its average volume of 1,167,528. The stock has a market cap of $690.23 million, a price-to-earnings ratio of -6.61 and a beta of -1.24. The stock's 50-day moving average is $9.02 and its 200-day moving average is $11.91. Day One Biopharmaceuticals, Inc. has a 52 week low of $6.41 and a 52 week high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.34). The company had revenue of $29.21 million during the quarter, compared to analyst estimates of $27.11 million. Equities research analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

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.