Vestal Point Capital LP Purchases 1,250,000 Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Vestal Point Capital LP lifted its position in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 100.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,500,000 shares of the company’s stock after buying an additional 1,250,000 shares during the quarter. Day One Biopharmaceuticals comprises about 2.6% of Vestal Point Capital LP’s holdings, making the stock its 13th largest position. Vestal Point Capital LP’s holdings in Day One Biopharmaceuticals were worth $34,825,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of DAWN. Mirae Asset Global Investments Co. Ltd. grew its holdings in Day One Biopharmaceuticals by 38.4% during the 3rd 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 during the period. Quest Partners LLC grew its stake in Day One Biopharmaceuticals by 9,238.6% during the third quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock worth $108,000 after purchasing an additional 7,668 shares during the period. SG Americas Securities LLC bought a new stake in Day One Biopharmaceuticals in the second quarter worth approximately $113,000. Point72 DIFC Ltd acquired a new position in Day One Biopharmaceuticals in the second quarter valued at approximately $124,000. Finally, Hsbc Holdings PLC bought a new position in shares of Day One Biopharmaceuticals during the 2nd quarter worth approximately $163,000. Institutional investors own 87.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. HC Wainwright reiterated a “buy” rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. TD Cowen upgraded shares of Day One Biopharmaceuticals to a “strong-buy” rating in a report on Monday, November 4th. Bank of America upgraded Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and raised their target price for the company from $11.00 to $24.00 in a research note on Thursday, August 1st. Needham & Company LLC reiterated a “buy” rating and issued a $33.00 price target on shares of Day One Biopharmaceuticals in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. decreased their price objective on Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. 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 stock. According to MarketBeat.com, Day One Biopharmaceuticals presently has an average rating of “Buy” and a consensus price target of $35.71.

Day One Biopharmaceuticals Stock Performance

Shares of NASDAQ:DAWN opened at $13.72 on Friday. The stock’s fifty day simple moving average is $14.35 and its two-hundred day simple moving average is $14.18. Day One Biopharmaceuticals, Inc. has a 1-year low of $11.30 and a 1-year high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.58. The firm had revenue of $93.76 million for the quarter, compared to the consensus estimate of $15.05 million. During the same period in the previous year, the business earned ($0.54) earnings per share. As a group, research analysts expect that Day One Biopharmaceuticals, Inc. will post -0.88 earnings per share for the current fiscal year.

Insider Transactions at Day One Biopharmaceuticals

In other news, insider Samuel C. Blackman sold 30,000 shares of Day One Biopharmaceuticals 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 sale, the insider now directly 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 document filed with the SEC, which is available at this hyperlink. Insiders have sold 51,745 shares of company stock worth $775,867 in the last 90 days. Insiders own 8.40% of the company’s stock.

Day One Biopharmaceuticals Company 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.