Braidwell LP Buys 1,837,949 Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Braidwell LP lifted its stake in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 60.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 4,873,853 shares of the company’s stock after purchasing an additional 1,837,949 shares during the quarter. Day One Biopharmaceuticals comprises 1.9% of Braidwell LP’s investment portfolio, making the stock its 21st largest position. Braidwell LP’s holdings in Day One Biopharmaceuticals were worth $67,893,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in DAWN. FMR LLC raised its position 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 worth $103,254,000 after acquiring an additional 4,750,936 shares in the last quarter. Vestal Point Capital LP raised its position in shares of Day One Biopharmaceuticals by 100.0% in the 3rd quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company’s stock worth $34,825,000 after acquiring an additional 1,250,000 shares in the last quarter. Deerfield Management Company L.P. Series C raised its position in shares of Day One Biopharmaceuticals by 65.6% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 2,923,137 shares of the company’s stock worth $40,281,000 after acquiring an additional 1,157,825 shares in the last quarter. First Turn Management LLC purchased a new position in Day One Biopharmaceuticals during the 3rd quarter worth $13,204,000. Finally, Ally Bridge Group NY LLC purchased a new position in Day One Biopharmaceuticals during the 2nd quarter worth $7,387,000. 87.95% of the stock is owned by institutional investors.

Insider Transactions at Day One Biopharmaceuticals

In other news, insider Samuel C. Blackman sold 30,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $14.22, for a total value of $426,600.00. Following the sale, the insider now owns 1,097,535 shares in the company, valued at $15,606,947.70. This represents a 2.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 51,745 shares of company stock worth $775,867 over the last quarter. 8.40% of the stock is currently owned by insiders.

Day One Biopharmaceuticals Stock Performance

Day One Biopharmaceuticals stock opened at $13.72 on Friday. The business’s 50-day simple moving average is $14.35 and its two-hundred day simple moving average is $14.18. The company has a market cap of $1.38 billion, a PE ratio of -13.32 and a beta of -1.51. Day One Biopharmaceuticals, Inc. has a fifty-two week low of $11.30 and a fifty-two week high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.58. The company had revenue of $93.76 million during the quarter, compared to analysts’ expectations of $15.05 million. During the same quarter in the previous year, the company earned ($0.54) EPS. As a group, analysts predict that Day One Biopharmaceuticals, Inc. will post -0.88 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DAWN. Bank of America upgraded Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $24.00 in a research note on Thursday, August 1st. HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and set a $33.00 target price on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. TD Cowen upgraded Day One Biopharmaceuticals to a “strong-buy” rating in a research note on Monday, November 4th. Finally, JPMorgan Chase & Co. dropped their target price on Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target 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.