Xi L.P. Canaan Sells 106,111 Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Stock

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWNGet Rating) major shareholder Xi L.P. Canaan sold 106,111 shares of the company’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $23.68, for a total transaction of $2,512,708.48. Following the completion of the transaction, the insider now owns 9,469,887 shares in the company, valued at $224,246,924.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Day One Biopharmaceuticals Trading Down 5.4 %

Shares of Day One Biopharmaceuticals stock opened at $21.54 on Friday. Day One Biopharmaceuticals, Inc. has a 12-month low of $5.44 and a 12-month high of $28.35. The firm’s 50-day moving average price is $21.91 and its two-hundred day moving average price is $14.84.

Day One Biopharmaceuticals (NASDAQ:DAWNGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by ($0.11). Equities research analysts anticipate that Day One Biopharmaceuticals, Inc. will post -2.18 EPS for the current year.

Wall Street Analyst Weigh In

DAWN has been the topic of several research reports. Wedbush upped their price target on shares of Day One Biopharmaceuticals from $32.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, June 13th. Piper Sandler upped their price target on shares of Day One Biopharmaceuticals from $35.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, June 20th.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Hedge funds have recently made changes to their positions in the stock. Deerfield Management Company L.P. Series C boosted its stake in shares of Day One Biopharmaceuticals by 28.7% in the 4th quarter. Deerfield Management Company L.P. Series C now owns 2,202,533 shares of the company’s stock valued at $37,113,000 after purchasing an additional 491,803 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Day One Biopharmaceuticals by 5.7% in the 4th quarter. Northern Trust Corp now owns 103,677 shares of the company’s stock valued at $1,747,000 after purchasing an additional 5,578 shares in the last quarter. Silverarc Capital Management LLC bought a new position in Day One Biopharmaceuticals in the 2nd quarter valued at approximately $1,888,000. TCI Wealth Advisors Inc. bought a new position in Day One Biopharmaceuticals in the 2nd quarter valued at approximately $35,000. Finally, ACG Wealth bought a new position in Day One Biopharmaceuticals in the 2nd quarter valued at approximately $32,000. 95.40% of the stock is currently owned by institutional investors and hedge funds.

About Day One Biopharmaceuticals

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Day One Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops and commercializes targeted therapies for patients with genetically defined cancers. Its lead product candidate is DAY101, an oral brain-penetrant type II pan-rapidly accelerated fibrosarcoma kinase inhibitor that is in Phase II clinical trial for pediatric patients with relapsed/progressive low-grade glioma.

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