Frazier Life Sciences Management L.P. Takes Position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Frazier Life Sciences Management L.P. purchased a new position in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 689,655 shares of the company’s stock, valued at approximately $9,607,000. Frazier Life Sciences Management L.P. owned 0.68% of Day One Biopharmaceuticals at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of 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 purchasing an additional 1,002 shares during the period. Quest Partners LLC boosted its stake in Day One Biopharmaceuticals by 9,238.6% in the third quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock valued at $108,000 after acquiring an additional 7,668 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Day One Biopharmaceuticals during the 2nd quarter valued at approximately $113,000. Point72 DIFC Ltd bought a new position in shares of Day One Biopharmaceuticals during the 2nd quarter valued at approximately $124,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Day One Biopharmaceuticals during the 2nd quarter worth approximately $163,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Insider Buying and Selling at Day One Biopharmaceuticals

In related news, insider Samuel C. Blackman sold 11,245 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $16.03, for a total value of $180,257.35. Following the sale, the insider now owns 1,085,790 shares in the company, valued at approximately $17,405,213.70. This trade represents a 1.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 21,745 shares of company stock valued at $349,267 in the last three months. Company insiders own 8.40% of the company’s stock.

Analysts Set New Price Targets

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

Day One Biopharmaceuticals Stock Performance

Shares of DAWN opened at $13.47 on Tuesday. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -13.08 and a beta of -1.51. Day One Biopharmaceuticals, Inc. has a 52-week low of $11.51 and a 52-week high of $18.07. The stock’s 50-day simple moving average is $14.26 and its 200 day simple moving average is $14.06.

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

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.