RA Capital Management L.P. Sells 2,116,144 Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

RA Capital Management L.P. reduced its position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) by 26.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,755,577 shares of the company's stock after selling 2,116,144 shares during the quarter. Day One Biopharmaceuticals comprises approximately 1.0% of RA Capital Management L.P.'s investment portfolio, making the stock its 25th biggest holding. RA Capital Management L.P. owned about 5.71% of Day One Biopharmaceuticals worth $72,923,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of DAWN. Northern Trust Corp grew its position in shares of Day One Biopharmaceuticals by 10.5% during the 4th quarter. Northern Trust Corp now owns 547,050 shares of the company's stock valued at $6,931,000 after acquiring an additional 51,960 shares during the period. Virtus ETF Advisers LLC boosted its position in shares of Day One Biopharmaceuticals by 7.1% during the fourth quarter. Virtus ETF Advisers LLC now owns 27,296 shares of the company's stock worth $346,000 after buying an additional 1,805 shares during the period. Nebula Research & Development LLC increased its stake in Day One Biopharmaceuticals by 95.9% during the 4th quarter. Nebula Research & Development LLC now owns 19,804 shares of the company's stock worth $251,000 after buying an additional 9,697 shares during the period. Integrated Wealth Concepts LLC purchased a new stake in shares of Day One Biopharmaceuticals during the fourth quarter worth approximately $219,000. Finally, Hsbc Holdings PLC purchased a new position in shares of Day One Biopharmaceuticals in the 4th quarter valued at about $481,000. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Day One Biopharmaceuticals news, General Counsel Adam Dubow sold 4,646 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total value of $55,566.16. Following the transaction, the general counsel now directly owns 39,602 shares of the company's stock, valued at $473,639.92. This represents a 10.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jeremy Bender sold 12,048 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total transaction 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 $1,531,059.40. This represents a 8.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,064 shares of company stock worth $251,925. Corporate insiders own 6.20% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Wedbush reissued an "outperform" rating and set a $32.00 price objective on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. HC Wainwright restated a "buy" rating and issued a $36.00 target price on shares of Day One Biopharmaceuticals in a report on Thursday, April 3rd. JPMorgan Chase & Co. decreased their price target on Day One Biopharmaceuticals from $39.00 to $34.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 5th. Needham & Company LLC reiterated a "buy" rating and set a $32.00 target price on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. Finally, Bank of America decreased their target price on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $32.29.

Day One Biopharmaceuticals Stock Performance

Shares of NASDAQ:DAWN traded down $0.45 on Monday, hitting $7.48. The stock had a trading volume of 759,572 shares, compared to its average volume of 1,057,651. The company has a market capitalization of $758.13 million, a price-to-earnings ratio of -7.26 and a beta of -1.24. Day One Biopharmaceuticals, Inc. has a twelve month low of $6.41 and a twelve month high of $17.79. The firm's 50 day moving average price is $7.92 and its 200-day moving average price is $11.33.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last issued its quarterly earnings results 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 firm had revenue of $29.21 million during the quarter, compared to analyst estimates of $27.11 million. As a group, sell-side analysts predict 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.