Braidwell LP Purchases 1,837,949 Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Braidwell LP grew its stake in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 60.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,873,853 shares of the company’s stock after acquiring an additional 1,837,949 shares during the quarter. Day One Biopharmaceuticals accounts for 1.9% of Braidwell LP’s portfolio, making the stock its 21st biggest holding. Braidwell LP owned about 4.83% of Day One Biopharmaceuticals worth $67,893,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Day One Biopharmaceuticals by 38.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,611 shares of the company’s stock worth $51,000 after acquiring an additional 1,002 shares in the last quarter. SteelPeak Wealth LLC lifted its holdings in shares of Day One Biopharmaceuticals by 9.8% during the third quarter. SteelPeak Wealth LLC now owns 17,400 shares of the company’s stock valued at $242,000 after purchasing an additional 1,550 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Day One Biopharmaceuticals by 16.9% during the third quarter. Handelsbanken Fonder AB now owns 27,000 shares of the company’s stock valued at $376,000 after purchasing an additional 3,900 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Day One Biopharmaceuticals by 8.6% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 64,359 shares of the company’s stock valued at $887,000 after purchasing an additional 5,070 shares in the last quarter. Finally, Martingale Asset Management L P lifted its holdings in shares of Day One Biopharmaceuticals by 9.6% during the third quarter. Martingale Asset Management L P now owns 71,304 shares of the company’s stock valued at $993,000 after purchasing an additional 6,219 shares in the last quarter. 87.95% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Samuel C. Blackman sold 30,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $14.22, for a total transaction of $426,600.00. Following the completion of the transaction, the insider now owns 1,097,535 shares in the company, valued at $15,606,947.70. The trade was a 2.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 51,745 shares of company stock valued at $775,867 in the last ninety days. Insiders own 8.40% of the company’s stock.

Day One Biopharmaceuticals Stock Up 1.3 %

Shares of DAWN opened at $13.72 on Friday. The business has a 50-day simple moving average of $14.35 and a two-hundred day simple moving average of $14.18. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -13.32 and a beta of -1.51. Day One Biopharmaceuticals, Inc. has a 52 week low of $11.30 and a 52 week high of $18.07.

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, topping the consensus estimate of ($0.20) by $0.58. The business had revenue of $93.76 million for the quarter, compared to analysts’ expectations of $15.05 million. During the same quarter in the prior year, the business posted ($0.54) EPS. On average, equities analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.88 earnings per share for the current fiscal year.

Analyst Ratings Changes

DAWN has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price target on shares of Day One Biopharmaceuticals in a report on Thursday, October 31st. JPMorgan Chase & Co. lowered their price target on Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Bank of America raised Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and upped their price target for the company from $11.00 to $24.00 in a report on Thursday, August 1st. HC Wainwright reiterated a “buy” rating and set a $40.00 price objective on shares of Day One Biopharmaceuticals in a research report on Thursday, October 31st. Finally, TD Cowen upgraded Day One Biopharmaceuticals to a “strong-buy” rating in a research report on Monday, November 4th. One analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $35.71.

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.