Franklin Resources Inc. Buys 87,262 Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Franklin Resources Inc. boosted its stake in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 2.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,869,632 shares of the company’s stock after purchasing an additional 87,262 shares during the period. Franklin Resources Inc.’s holdings in Day One Biopharmaceuticals were worth $55,336,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Day One Biopharmaceuticals by 178.5% during the third quarter. FMR LLC now owns 7,412,380 shares of the company’s stock worth $103,254,000 after buying an additional 4,750,936 shares in the last quarter. Braidwell LP grew its position in Day One Biopharmaceuticals by 60.5% during the 3rd quarter. Braidwell LP now owns 4,873,853 shares of the company’s stock worth $67,893,000 after acquiring an additional 1,837,949 shares during the last quarter. Deerfield Management Company L.P. Series C increased its holdings in Day One Biopharmaceuticals by 65.6% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 2,923,137 shares of the company’s stock worth $40,281,000 after purchasing an additional 1,157,825 shares in the last quarter. Vestal Point Capital LP raised its position in Day One Biopharmaceuticals by 100.0% in the third quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company’s stock valued at $34,825,000 after purchasing an additional 1,250,000 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its stake in shares of Day One Biopharmaceuticals by 18.4% during the third quarter. Janus Henderson Group PLC now owns 2,177,197 shares of the company’s stock valued at $30,307,000 after purchasing an additional 337,928 shares in the last quarter. Institutional investors own 87.95% of the company’s stock.

Day One Biopharmaceuticals Stock Performance

Shares of NASDAQ DAWN opened at $12.62 on Tuesday. The company’s 50 day moving average price is $14.17 and its 200-day moving average price is $14.04. Day One Biopharmaceuticals, Inc. has a 52-week low of $11.94 and a 52-week high of $18.07. The company has a market capitalization of $1.27 billion, a P/E ratio of -12.25 and a beta of -1.51.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.58. The firm had revenue of $93.76 million during the quarter, compared to analyst estimates of $15.05 million. During the same quarter in the previous year, the firm earned ($0.54) EPS. Analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.88 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on DAWN shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. TD Cowen raised shares of Day One Biopharmaceuticals to a “strong-buy” rating in a research note on Monday, November 4th. Finally, HC Wainwright reissued a “buy” rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Day One Biopharmaceuticals presently has an average rating of “Buy” and a consensus price target of $35.71.

Insider Activity

In other news, insider Samuel C. Blackman sold 10,000 shares of Day One Biopharmaceuticals stock in a transaction on Monday, November 11th. The shares were sold at an average price of $16.10, for a total value of $161,000.00. Following the completion of the sale, the insider now owns 1,057,535 shares in the company, valued at $17,026,313.50. The trade was a 0.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 51,745 shares of company stock valued at $748,567 in the last ninety days. 8.40% of the stock is owned by company insiders.

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.