Algert Global LLC Buys 411,000 Shares of Day One Biopharmaceuticals, Inc. $DAWN

Algert Global LLC grew its stake in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 45.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,317,042 shares of the company’s stock after buying an additional 411,000 shares during the period. Algert Global LLC owned approximately 1.28% of Day One Biopharmaceuticals worth $9,285,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Creative Planning increased its holdings in shares of Day One Biopharmaceuticals by 41.5% during the 3rd quarter. Creative Planning now owns 26,196 shares of the company’s stock valued at $185,000 after acquiring an additional 7,689 shares during the last quarter. Rubric Capital Management LP acquired a new position in Day One Biopharmaceuticals during the third quarter valued at approximately $23,808,000. Deerfield Management Company L.P. lifted its stake in shares of Day One Biopharmaceuticals by 26.4% in the third quarter. Deerfield Management Company L.P. now owns 4,705,413 shares of the company’s stock worth $33,173,000 after buying an additional 982,282 shares during the last quarter. Man Group plc lifted its stake in shares of Day One Biopharmaceuticals by 61.5% in the third quarter. Man Group plc now owns 91,818 shares of the company’s stock worth $647,000 after buying an additional 34,956 shares during the last quarter. Finally, California State Teachers Retirement System boosted its holdings in shares of Day One Biopharmaceuticals by 28.1% during the 3rd quarter. California State Teachers Retirement System now owns 71,894 shares of the company’s stock worth $507,000 after buying an additional 15,774 shares during the period. Institutional investors own 87.95% of the company’s stock.

Insiders Place Their Bets

In other Day One Biopharmaceuticals news, insider Lauren Merendino sold 5,814 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total transaction of $67,442.40. Following the completion of the transaction, the insider directly owned 60,157 shares of the company’s stock, valued at approximately $697,821.20. This trade represents a 8.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Charles N. York II sold 6,065 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $11.60, for a total value of $70,354.00. Following the transaction, the chief financial officer directly owned 312,025 shares of the company’s stock, valued at approximately $3,619,490. The trade was a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 36,461 shares of company stock worth $422,948 over the last quarter. Corporate insiders own 6.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DAWN shares. JPMorgan Chase & Co. reissued a “neutral” rating and set a $21.50 target price (down from $27.00) on shares of Day One Biopharmaceuticals in a research report on Wednesday, March 11th. Zacks Research downgraded Day One Biopharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Wedbush reiterated a “neutral” rating and issued a $21.50 price objective (down from $30.00) on shares of Day One Biopharmaceuticals in a research note on Monday, March 9th. TD Cowen cut Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. Finally, HC Wainwright restated a “neutral” rating and set a $21.50 target price (down from $22.00) on shares of Day One Biopharmaceuticals in a research note on Tuesday, March 10th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $23.75.

Day One Biopharmaceuticals Stock Performance

Shares of Day One Biopharmaceuticals stock opened at $21.36 on Tuesday. The firm has a market cap of $2.21 billion, a P/E ratio of -20.74 and a beta of -1.25. The firm’s 50-day simple moving average is $12.57 and its 200-day simple moving average is $9.67. Day One Biopharmaceuticals, Inc. has a twelve month low of $5.64 and a twelve month high of $21.43.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings results on Tuesday, February 24th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). Day One Biopharmaceuticals had a negative return on equity of 23.43% and a negative net margin of 67.85%.The business had revenue of $53.72 million for the quarter, compared to the consensus estimate of $49.81 million. On average, equities analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

Day One Biopharmaceuticals Company Profile

Day One Biopharmaceuticals, Inc (NASDAQ: DAWN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted therapies for oncology. The company employs a precision medicine approach, leveraging biomarker-driven strategies to identify patient populations most likely to respond to its investigational compounds. By concentrating on well-validated molecular drivers of cancer, Day One seeks to deliver first-in-class or best-in-class therapies with the potential for meaningful clinical benefit.

The company’s pipeline includes several small-molecule candidates in various stages of development.