Superstring Capital Management LP Makes New Investment in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Superstring Capital Management LP acquired a new stake in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 379,626 shares of the company’s stock, valued at approximately $5,543,000. Day One Biopharmaceuticals makes up about 4.0% of Superstring Capital Management LP’s portfolio, making the stock its 9th biggest position. Superstring Capital Management LP owned approximately 0.44% of Day One Biopharmaceuticals at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Arizona State Retirement System increased its stake in shares of Day One Biopharmaceuticals by 8.8% in the 3rd quarter. Arizona State Retirement System now owns 12,363 shares of the company’s stock worth $152,000 after acquiring an additional 995 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Day One Biopharmaceuticals by 9.7% during the third quarter. Principal Financial Group Inc. now owns 17,781 shares of the company’s stock valued at $218,000 after purchasing an additional 1,569 shares during the last quarter. Alps Advisors Inc. boosted its position in shares of Day One Biopharmaceuticals by 2.5% in the 3rd quarter. Alps Advisors Inc. now owns 64,153 shares of the company’s stock worth $787,000 after purchasing an additional 1,592 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Day One Biopharmaceuticals in the 4th quarter worth approximately $29,000. Finally, Amalgamated Bank increased its position in Day One Biopharmaceuticals by 35.7% during the 3rd quarter. Amalgamated Bank now owns 8,628 shares of the company’s stock valued at $106,000 after buying an additional 2,268 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Day One Biopharmaceuticals Price Performance

NASDAQ DAWN traded down $0.28 during trading hours on Monday, hitting $12.49. The company’s stock had a trading volume of 900,250 shares, compared to its average volume of 869,762. The company has a market cap of $1.09 billion, a P/E ratio of -4.98 and a beta of -1.52. The company’s 50 day simple moving average is $14.96 and its two-hundred day simple moving average is $14.67. Day One Biopharmaceuticals, Inc. has a 12 month low of $9.67 and a 12 month high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings results on Monday, May 6th. The company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.05). As a group, research analysts predict that Day One Biopharmaceuticals, Inc. will post -2.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 10,000 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $16.01, for a total transaction of $160,100.00. Following the completion of the sale, the insider now directly owns 1,184,662 shares in the company, valued at approximately $18,966,438.62. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $16.01, for a total value of $160,100.00. Following the transaction, the insider now directly owns 1,184,662 shares of the company’s stock, valued at $18,966,438.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeremy Bender sold 70,051 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $17.88, for a total transaction of $1,252,511.88. Following the sale, the chief executive officer now directly owns 651,762 shares of the company’s stock, valued at approximately $11,653,504.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,534 shares of company stock worth $3,236,030. 8.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DAWN shares. HC Wainwright dropped their target price on Day One Biopharmaceuticals from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Tuesday, May 7th. Piper Sandler reiterated an “overweight” rating and issued a $40.00 price target on shares of Day One Biopharmaceuticals in a research note on Tuesday, March 26th. Oppenheimer restated a “market perform” rating on shares of Day One Biopharmaceuticals in a research note on Tuesday, February 27th. Wedbush reaffirmed an “outperform” rating and issued a $33.00 target price on shares of Day One Biopharmaceuticals in a report on Tuesday, May 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Day One Biopharmaceuticals from $32.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, April 22nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.67.

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.