Deutsche Bank AG Reduces Stock Holdings in Day One Biopharmaceuticals, Inc. $DAWN

Deutsche Bank AG trimmed its holdings in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 6.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 334,522 shares of the company’s stock after selling 24,398 shares during the quarter. Deutsche Bank AG owned 0.33% of Day One Biopharmaceuticals worth $2,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new position in Day One Biopharmaceuticals during the 1st quarter worth $88,000. Rhumbline Advisers grew its stake in Day One Biopharmaceuticals by 8.3% during the 1st quarter. Rhumbline Advisers now owns 81,844 shares of the company’s stock worth $649,000 after buying an additional 6,291 shares during the last quarter. MetLife Investment Management LLC grew its stake in Day One Biopharmaceuticals by 12.4% during the 4th quarter. MetLife Investment Management LLC now owns 34,248 shares of the company’s stock worth $434,000 after buying an additional 3,781 shares during the last quarter. Millennium Management LLC grew its stake in Day One Biopharmaceuticals by 80.4% during the 4th quarter. Millennium Management LLC now owns 192,100 shares of the company’s stock valued at $2,434,000 after purchasing an additional 85,606 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in Day One Biopharmaceuticals by 23.5% during the 4th quarter. ProShare Advisors LLC now owns 19,394 shares of the company’s stock valued at $246,000 after purchasing an additional 3,687 shares during the last quarter. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Adam Dubow sold 4,365 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $6.77, for a total value of $29,551.05. Following the completion of the transaction, the insider directly owned 54,858 shares in the company, valued at approximately $371,388.66. This represents a 7.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeremy Bender sold 16,058 shares of the company’s stock in a transaction on Monday, August 18th. The stock was sold at an average price of $6.77, for a total value of $108,712.66. Following the transaction, the chief executive officer owned 161,365 shares in the company, valued at $1,092,441.05. This trade represents a 9.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,295 shares of company stock valued at $191,557 over the last ninety days. 6.20% of the stock is currently owned by company insiders.

Day One Biopharmaceuticals Stock Up 0.1%

Shares of DAWN stock opened at $6.82 on Wednesday. The stock has a market cap of $698.57 million, a PE ratio of -7.18 and a beta of -1.26. Day One Biopharmaceuticals, Inc. has a 52-week low of $5.64 and a 52-week high of $16.76. The business has a 50-day simple moving average of $6.61 and a 200-day simple moving average of $7.71.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its earnings results on Tuesday, August 5th. The company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.06. Day One Biopharmaceuticals had a negative return on equity of 19.01% and a negative net margin of 50.63%.The business had revenue of $33.91 million during the quarter, compared to analysts’ expectations of $35.55 million. Sell-side analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. HC Wainwright dropped their price target on Day One Biopharmaceuticals from $36.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Piper Sandler assumed coverage on Day One Biopharmaceuticals in a research note on Monday. They set an “overweight” rating and a $25.00 price target on the stock. Wedbush reiterated an “outperform” rating and set a $25.00 price target on shares of Day One Biopharmaceuticals in a research note on Wednesday, May 7th. Finally, Needham & Company LLC dropped their price target on Day One Biopharmaceuticals from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $25.29.

About Day One Biopharmaceuticals

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.