Braidwell LP Increases Stock Holdings in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Braidwell LP increased its position in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) by 60.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,873,853 shares of the company's stock after acquiring an additional 1,837,949 shares during the quarter. Day One Biopharmaceuticals makes up about 1.9% of Braidwell LP's portfolio, making the stock its 21st biggest holding. Braidwell LP owned approximately 4.83% of Day One Biopharmaceuticals worth $67,893,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Verition Fund Management LLC raised its stake in Day One Biopharmaceuticals by 31.4% during the third quarter. Verition Fund Management LLC now owns 31,075 shares of the company's stock worth $433,000 after purchasing an additional 7,422 shares during the period. Vestal Point Capital LP increased its holdings in shares of Day One Biopharmaceuticals by 100.0% during the 3rd quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company's stock worth $34,825,000 after buying an additional 1,250,000 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of Day One Biopharmaceuticals during the 3rd quarter valued at approximately $477,000. Martingale Asset Management L P lifted its holdings in Day One Biopharmaceuticals by 9.6% in the third quarter. Martingale Asset Management L P now owns 71,304 shares of the company's stock valued at $993,000 after acquiring an additional 6,219 shares during the last quarter. Finally, Stonepine Capital Management LLC purchased a new position in Day One Biopharmaceuticals in the third quarter worth approximately $2,865,000. Hedge funds and other institutional investors own 87.95% of the company's stock.

Day One Biopharmaceuticals Stock Up 1.5 %

NASDAQ DAWN traded up $0.21 during trading on Friday, hitting $13.93. The stock had a trading volume of 450,390 shares, compared to its average volume of 953,851. The company has a market capitalization of $1.40 billion, a PE ratio of -13.52 and a beta of -1.51. The firm has a 50 day moving average price of $14.32 and a 200 day moving average price of $14.16. Day One Biopharmaceuticals, Inc. has a twelve month low of $11.30 and a twelve month high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts' consensus estimates of ($0.20) by $0.58. The business had revenue of $93.76 million during the quarter, compared to analyst estimates of $15.05 million. During the same quarter last year, the firm posted ($0.54) EPS. On average, sell-side analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.88 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Samuel C. Blackman sold 10,000 shares of the company's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $16.10, for a total transaction of $161,000.00. Following the sale, the insider now directly owns 1,057,535 shares in the company, valued at approximately $17,026,313.50. This represents a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 51,745 shares of company stock worth $775,867 over the last 90 days. Corporate insiders own 8.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on DAWN shares. TD Cowen upgraded Day One Biopharmaceuticals to a "strong-buy" rating in a research report on Monday, November 4th. HC Wainwright restated a "buy" rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a report on Thursday, October 31st. Needham & Company LLC reaffirmed a "buy" rating and issued a $33.00 target price on shares of Day One Biopharmaceuticals in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. dropped their price target on shares of Day One Biopharmaceuticals from $38.00 to $36.00 and set an "overweight" rating for the company in a research report on Tuesday, August 6th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Day One Biopharmaceuticals currently has a consensus rating of "Buy" and a consensus price target of $35.71.

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.