Maverick Capital Ltd. Purchases 902,868 Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Maverick Capital Ltd. boosted its position in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 74.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,114,006 shares of the company’s stock after buying an additional 902,868 shares during the quarter. Maverick Capital Ltd.’s holdings in Day One Biopharmaceuticals were worth $29,448,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of Day One Biopharmaceuticals by 178.5% in the third quarter. FMR LLC now owns 7,412,380 shares of the company’s stock valued at $103,254,000 after purchasing an additional 4,750,936 shares during the last quarter. Braidwell LP increased its holdings in shares of Day One Biopharmaceuticals by 60.5% in the third quarter. Braidwell LP now owns 4,873,853 shares of the company’s stock valued at $67,893,000 after purchasing an additional 1,837,949 shares during the last quarter. Deerfield Management Company L.P. Series C increased its holdings in shares of Day One Biopharmaceuticals by 65.6% in the second quarter. Deerfield Management Company L.P. Series C now owns 2,923,137 shares of the company’s stock valued at $40,281,000 after purchasing an additional 1,157,825 shares during the last quarter. Vestal Point Capital LP increased its holdings in shares of 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, TimesSquare Capital Management LLC increased its holdings in shares of Day One Biopharmaceuticals by 8.2% in the third quarter. TimesSquare Capital Management LLC now owns 1,827,695 shares of the company’s stock valued at $25,460,000 after purchasing an additional 139,160 shares during the last quarter. 87.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on DAWN. TD Cowen upgraded shares of Day One Biopharmaceuticals to a “strong-buy” rating in a research note on Monday, November 4th. HC Wainwright restated a “buy” rating and issued a $40.00 price target on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and issued a $33.00 price target on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Day One Biopharmaceuticals currently has an average rating of “Buy” and an average target price of $35.71.

Day One Biopharmaceuticals Stock Up 1.5 %

Shares of Day One Biopharmaceuticals stock opened at $13.93 on Friday. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -13.52 and a beta of -1.51. Day One Biopharmaceuticals, Inc. has a 12-month low of $11.30 and a 12-month high of $18.07. The firm’s 50-day moving average price is $14.34 and its two-hundred day moving average price is $14.18.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.58. The company had revenue of $93.76 million during the quarter, compared to the consensus estimate of $15.05 million. During the same period last year, the company posted ($0.54) EPS. On average, sell-side analysts expect that Day One Biopharmaceuticals, Inc. will post -0.88 earnings per share for the current year.

Insider Transactions at Day One Biopharmaceuticals

In related news, insider Samuel C. Blackman sold 10,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now owns 1,057,535 shares in the company, valued at $17,026,313.50. This trade represents a 0.94 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders sold 51,745 shares of company stock valued at $775,867. 8.40% of the stock is currently owned by 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.