Martingale Asset Management L P Acquires 6,219 Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Martingale Asset Management L P grew its holdings in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 9.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 71,304 shares of the company’s stock after buying an additional 6,219 shares during the period. Martingale Asset Management L P owned approximately 0.07% of Day One Biopharmaceuticals worth $993,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of DAWN. FMR LLC grew its stake in shares of Day One Biopharmaceuticals by 178.5% in the 3rd quarter. FMR LLC now owns 7,412,380 shares of the company’s stock valued at $103,254,000 after buying an additional 4,750,936 shares during the period. Deerfield Management Company L.P. Series C grew its stake in Day One Biopharmaceuticals by 65.6% in the second quarter. Deerfield Management Company L.P. Series C now owns 2,923,137 shares of the company’s stock valued at $40,281,000 after acquiring an additional 1,157,825 shares during the period. First Turn Management LLC acquired a new stake in Day One Biopharmaceuticals in the third quarter valued at approximately $13,204,000. Ally Bridge Group NY LLC acquired a new position in shares of Day One Biopharmaceuticals during the second quarter worth approximately $7,387,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Day One Biopharmaceuticals in the 2nd quarter worth $6,480,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

Insider Buying and Selling at Day One Biopharmaceuticals

In other news, insider Samuel C. Blackman sold 11,245 shares of Day One Biopharmaceuticals stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $16.03, for a total transaction of $180,257.35. Following the sale, the insider now directly owns 1,085,790 shares in the company, valued at $17,405,213.70. The trade was a 1.03 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold 51,745 shares of company stock worth $775,867 in the last quarter. 8.40% of the stock is currently owned by company insiders.

Day One Biopharmaceuticals Stock Performance

Shares of DAWN stock opened at $13.84 on Tuesday. The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -13.44 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 company has a 50-day simple moving average of $14.32 and a two-hundred day simple moving average of $14.13.

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, beating the consensus estimate of ($0.20) by $0.58. The business had revenue of $93.76 million during the quarter, compared to the consensus estimate of $15.05 million. During the same period in the prior year, the company earned ($0.54) earnings per share. On average, sell-side analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. TD Cowen upgraded shares of Day One Biopharmaceuticals to a “strong-buy” rating in a research note on Monday, November 4th. Needham & Company LLC reissued a “buy” rating and set a $33.00 target price on shares of Day One Biopharmaceuticals in a research report on Thursday, October 31st. HC Wainwright reaffirmed a “buy” rating and issued a $40.00 price target on shares of Day One Biopharmaceuticals in a research 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 given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Day One Biopharmaceuticals presently has a consensus rating of “Buy” and a consensus target price of $35.71.

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.