Braidwell LP Purchases 500,000 Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Braidwell LP boosted its position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 13.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,215,573 shares of the company’s stock after acquiring an additional 500,000 shares during the period. Day One Biopharmaceuticals accounts for approximately 2.3% of Braidwell LP’s portfolio, making the stock its 12th largest holding. Braidwell LP’s holdings in Day One Biopharmaceuticals were worth $61,547,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC purchased a new stake in Day One Biopharmaceuticals in the fourth quarter valued at approximately $29,000. Amalgamated Bank raised its position in shares of 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. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Day One Biopharmaceuticals by 352.2% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 10,067 shares of the company’s stock worth $147,000 after acquiring an additional 7,841 shares during the last quarter. Exchange Traded Concepts LLC grew its position in Day One Biopharmaceuticals by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 10,072 shares of the company’s stock worth $147,000 after acquiring an additional 2,554 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Day One Biopharmaceuticals in the fourth quarter valued at $156,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

Day One Biopharmaceuticals Stock Performance

Shares of DAWN traded up $0.05 on Tuesday, reaching $12.54. The stock had a trading volume of 668,674 shares, compared to its average volume of 867,966. Day One Biopharmaceuticals, Inc. has a 12-month low of $9.67 and a 12-month high of $18.07. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -5.00 and a beta of -1.52. The company has a 50-day simple moving average of $14.90 and a 200-day simple moving average of $14.67.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings results on Monday, May 6th. The company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.67) by ($0.05). On average, analysts expect that Day One Biopharmaceuticals, Inc. will post -2.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Samuel C. Blackman sold 2,267 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $16.08, for a total transaction of $36,453.36. Following the completion of the transaction, the insider now directly owns 1,171,081 shares in the company, valued at $18,830,982.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 10,000 shares of the business’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $16.02, for a total value of $160,200.00. Following the sale, the insider now directly owns 1,174,662 shares of the company’s stock, valued at $18,818,085.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Samuel C. Blackman sold 2,267 shares of the firm’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $16.08, for a total value of $36,453.36. Following the transaction, the insider now owns 1,171,081 shares of the company’s stock, valued at $18,830,982.48. 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 currently owned by company insiders.

Analyst Ratings Changes

Several research firms have commented on DAWN. Wedbush reissued an “outperform” rating and set a $33.00 price target on shares of Day One Biopharmaceuticals in a research note on Tuesday, May 7th. Oppenheimer reaffirmed a “market perform” rating on shares of Day One Biopharmaceuticals in a research note on Tuesday, February 27th. HC Wainwright cut their price objective on Day One Biopharmaceuticals from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, May 7th. The Goldman Sachs Group reduced their target price on Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 price target on shares of Day One Biopharmaceuticals in a research note on Tuesday, May 7th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Day One Biopharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $37.67.

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.