Braidwell LP Reduces Stake in Day One Biopharmaceuticals, Inc. $DAWN

Braidwell LP trimmed its stake in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 27.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,536,853 shares of the company’s stock after selling 1,337,000 shares during the quarter. Braidwell LP owned approximately 3.49% of Day One Biopharmaceuticals worth $28,047,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Day One Biopharmaceuticals by 1.6% in the first quarter. Vanguard Group Inc. now owns 5,943,243 shares of the company’s stock valued at $47,130,000 after acquiring an additional 94,320 shares during the last quarter. Estuary Capital Management LP boosted its holdings in Day One Biopharmaceuticals by 35.5% in the 4th quarter. Estuary Capital Management LP now owns 3,716,777 shares of the company’s stock worth $47,092,000 after buying an additional 972,997 shares during the period. Alyeska Investment Group L.P. bought a new position in Day One Biopharmaceuticals in the 4th quarter worth approximately $31,829,000. Parkman Healthcare Partners LLC boosted its holdings in Day One Biopharmaceuticals by 8.3% in the 4th quarter. Parkman Healthcare Partners LLC now owns 1,000,474 shares of the company’s stock worth $12,676,000 after buying an additional 76,334 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Day One Biopharmaceuticals by 10.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 927,017 shares of the company’s stock worth $11,745,000 after buying an additional 90,822 shares during the period. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Day One Biopharmaceuticals Price Performance

NASDAQ:DAWN opened at $7.51 on Monday. Day One Biopharmaceuticals, Inc. has a one year low of $5.64 and a one year high of $16.76. The company’s 50-day simple moving average is $6.72 and its 200 day simple moving average is $7.41. The firm has a market capitalization of $769.25 million, a P/E ratio of -7.91 and a beta of -1.25.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its earnings results on Tuesday, August 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.06. The business had revenue of $33.91 million during the quarter, compared to analysts’ expectations of $35.55 million. Day One Biopharmaceuticals had a negative net margin of 50.63% and a negative return on equity of 19.01%. On average, equities research analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DAWN has been the subject of several analyst reports. HC Wainwright cut their price objective on shares of Day One Biopharmaceuticals from $36.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Piper Sandler initiated coverage on shares of Day One Biopharmaceuticals in a report on Monday, August 18th. They issued an “overweight” rating and a $25.00 price objective for the company. Needham & Company LLC cut their price objective on shares of Day One Biopharmaceuticals from $18.00 to $16.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Day One Biopharmaceuticals in a report on Wednesday, May 7th. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to MarketBeat.com, Day One Biopharmaceuticals presently has an average rating of “Buy” and a consensus price target of $25.29.

Insider Activity at Day One Biopharmaceuticals

In related news, CFO Charles N. York II sold 4,106 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $6.77, for a total transaction of $27,797.62. Following the completion of the sale, the chief financial officer directly owned 278,000 shares in the company, valued at approximately $1,882,060. The trade was a 1.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Adam Dubow sold 4,365 shares of the business’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $6.77, for a total transaction of $29,551.05. Following the sale, the insider owned 54,858 shares of the company’s stock, valued at $371,388.66. This trade represents a 7.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,295 shares of company stock valued at $191,557 over the last ninety days. Company insiders own 6.20% of the company’s stock.

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.