Driehaus Capital Management LLC Cuts Position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Driehaus Capital Management LLC lowered its holdings in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 706,446 shares of the company’s stock after selling 12,565 shares during the quarter. Driehaus Capital Management LLC owned approximately 0.81% of Day One Biopharmaceuticals worth $9,735,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in shares of Day One Biopharmaceuticals by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 452,934 shares of the company’s stock worth $6,613,000 after buying an additional 5,796 shares during the period. NEOS Investment Management LLC purchased a new position in Day One Biopharmaceuticals during the fourth quarter valued at $226,000. Superstring Capital Management LP acquired a new stake in shares of Day One Biopharmaceuticals in the fourth quarter valued at about $5,543,000. Braidwell LP increased its stake in shares of Day One Biopharmaceuticals by 13.5% during the fourth quarter. Braidwell LP now owns 4,215,573 shares of the company’s stock worth $61,547,000 after purchasing an additional 500,000 shares in the last quarter. Finally, Parkman Healthcare Partners LLC raised its position in shares of Day One Biopharmaceuticals by 34.2% during the 4th quarter. Parkman Healthcare Partners LLC now owns 625,749 shares of the company’s stock worth $9,136,000 after purchasing an additional 159,341 shares during the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DAWN has been the topic of several research analyst reports. Wedbush reiterated an “outperform” rating and issued a $33.00 price objective on shares of Day One Biopharmaceuticals in a report on Thursday, July 25th. Piper Sandler reaffirmed an “overweight” rating and issued a $40.00 price target on shares of Day One Biopharmaceuticals in a research note on Monday, July 8th. HC Wainwright reissued a “buy” rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, August 1st. JPMorgan Chase & Co. dropped their target price on shares of Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Finally, Bank of America upgraded shares of Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $11.00 to $24.00 in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $35.71.

Day One Biopharmaceuticals Price Performance

Shares of NASDAQ DAWN opened at $14.16 on Monday. The company has a market capitalization of $1.24 billion, a P/E ratio of -5.64 and a beta of -1.51. Day One Biopharmaceuticals, Inc. has a 1 year low of $9.67 and a 1 year high of $18.07. The company has a 50 day simple moving average of $14.14 and a 200-day simple moving average of $14.48.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its earnings results on Tuesday, July 30th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.75) by $0.70. The company had revenue of $8.19 million for the quarter, compared to analysts’ expectations of $0.90 million. As a group, research analysts expect that Day One Biopharmaceuticals, Inc. will post -1.68 EPS for the current year.

Insider Buying and Selling 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 Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 20,000 shares of the business’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $16.01, for a total transaction of $320,200.00. Following the sale, the insider now directly owns 1,121,081 shares in the company, valued at $17,948,506.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Samuel C. Blackman sold 30,000 shares of the stock in a transaction dated 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 approximately $15,606,947.70. The disclosure for this sale can be found here. Insiders have sold a total of 68,748 shares of company stock valued at $1,009,272 over the last quarter. 8.40% of the stock is owned by company insiders.

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.