Rhumbline Advisers Decreases Stake in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Rhumbline Advisers lessened its position in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 4.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 85,438 shares of the company’s stock after selling 4,289 shares during the quarter. Rhumbline Advisers owned 0.10% of Day One Biopharmaceuticals worth $1,177,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quest Partners LLC purchased a new stake in Day One Biopharmaceuticals in the fourth quarter worth about $29,000. Quintet Private Bank Europe S.A. lifted its stake in shares of Day One Biopharmaceuticals by 43.2% in the 4th quarter. Quintet Private Bank Europe S.A. now owns 3,313 shares of the company’s stock valued at $48,000 after purchasing an additional 1,000 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Day One Biopharmaceuticals during the 2nd quarter worth approximately $113,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Day One Biopharmaceuticals during the 4th quarter worth approximately $156,000. Finally, Bayesian Capital Management LP bought a new stake in shares of Day One Biopharmaceuticals during the 1st quarter worth approximately $221,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on DAWN shares. JPMorgan Chase & Co. reduced their price objective 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. Piper Sandler reissued an “overweight” rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a research report on Monday, July 8th. Wedbush reissued an “outperform” rating and issued a $33.00 price objective on shares of Day One Biopharmaceuticals in a research report on Thursday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price target on shares of Day One Biopharmaceuticals in a research report on Tuesday, July 30th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $40.00 price target on shares of Day One Biopharmaceuticals in a research report on Thursday, August 1st. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.71.

Day One Biopharmaceuticals Stock Up 3.2 %

Shares of Day One Biopharmaceuticals stock opened at $14.78 on Monday. Day One Biopharmaceuticals, Inc. has a twelve month low of $9.67 and a twelve month high of $18.07. The business has a 50-day moving average price of $14.26 and a 200 day moving average price of $14.52. The firm has a market cap of $1.29 billion, a PE ratio of -5.89 and a beta of -1.51.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings data on Tuesday, July 30th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.70. The firm had revenue of $8.19 million for the quarter, compared to analysts’ expectations of $0.90 million. On average, sell-side analysts expect that Day One Biopharmaceuticals, Inc. will post -1.68 EPS for the current year.

Insider Activity at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 20,000 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $16.01, for a total transaction of $320,200.00. Following the transaction, the insider now directly owns 1,121,081 shares in the company, valued at $17,948,506.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Samuel C. Blackman sold 30,000 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $14.22, for a total value 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Samuel C. Blackman sold 20,000 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $16.01, for a total value of $320,200.00. Following the completion of the transaction, the insider now directly owns 1,121,081 shares in the company, valued at approximately $17,948,506.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,748 shares of company stock worth $1,009,272. Insiders own 8.40% 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.