CenterBook Partners LP Makes New Investment in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

CenterBook Partners LP bought a new position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 100,735 shares of the company's stock, valued at approximately $1,276,000. CenterBook Partners LP owned approximately 0.10% of Day One Biopharmaceuticals as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. R Squared Ltd bought a new position in shares of Day One Biopharmaceuticals in the fourth quarter valued at $31,000. E Fund Management Co. Ltd. acquired a new stake in shares of Day One Biopharmaceuticals in the 4th quarter worth about $143,000. KLP Kapitalforvaltning AS bought a new position in Day One Biopharmaceuticals in the 4th quarter valued at about $150,000. XTX Topco Ltd acquired a new position in Day One Biopharmaceuticals during the 3rd quarter valued at about $178,000. Finally, Teacher Retirement System of Texas increased its holdings in Day One Biopharmaceuticals by 20.9% during the 4th quarter. Teacher Retirement System of Texas now owns 17,825 shares of the company's stock worth $226,000 after purchasing an additional 3,086 shares in the last quarter. Institutional investors and hedge funds own 87.95% of the company's stock.

Day One Biopharmaceuticals Stock Down 0.4 %

Day One Biopharmaceuticals stock traded down $0.03 during trading on Tuesday, hitting $7.19. The stock had a trading volume of 826,600 shares, compared to its average volume of 1,178,758. The stock's 50 day moving average is $9.23 and its two-hundred day moving average is $11.98. Day One Biopharmaceuticals, Inc. has a 1 year low of $6.41 and a 1 year high of $18.07. The stock has a market cap of $728.74 million, a price-to-earnings ratio of -6.98 and a beta of -1.24.

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Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The company reported ($0.69) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.34). The company had revenue of $29.21 million during the quarter, compared to the consensus estimate of $27.11 million. As a group, equities research analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jeremy Bender sold 12,048 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total transaction of $144,094.08. Following the transaction, the chief executive officer now directly owns 128,015 shares in the company, valued at approximately $1,531,059.40. This represents a 8.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel Adam Dubow sold 4,646 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total transaction of $55,566.16. Following the transaction, the general counsel now owns 39,602 shares in the company, valued at $473,639.92. The trade was a 10.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,064 shares of company stock worth $251,925. 8.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on DAWN. Needham & Company LLC restated a "buy" rating and issued a $32.00 target price on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. Wedbush restated an "outperform" rating and set a $32.00 price objective on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. HC Wainwright reiterated a "buy" rating and issued a $36.00 target price on shares of Day One Biopharmaceuticals in a research note on Thursday, April 3rd. Bank of America dropped their price target on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Day One Biopharmaceuticals from $39.00 to $34.00 and set an "overweight" rating for the company in a research note on Wednesday, March 5th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $32.29.

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.