Erste Asset Management GmbH Invests $725,000 in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Erste Asset Management GmbH purchased a new stake in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 51,200 shares of the company's stock, valued at approximately $725,000. Erste Asset Management GmbH owned about 0.05% of Day One Biopharmaceuticals at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in DAWN. FMR LLC increased its stake in shares of Day One Biopharmaceuticals by 178.5% during the third quarter. FMR LLC now owns 7,412,380 shares of the company's stock valued at $103,254,000 after acquiring an additional 4,750,936 shares during the period. Braidwell LP increased its stake in shares of Day One Biopharmaceuticals by 60.5% during the third quarter. Braidwell LP now owns 4,873,853 shares of the company's stock valued at $67,893,000 after acquiring an additional 1,837,949 shares during the period. Deerfield Management Company L.P. Series C increased its stake in shares of Day One Biopharmaceuticals by 65.6% during the second quarter. Deerfield Management Company L.P. Series C now owns 2,923,137 shares of the company's stock valued at $40,281,000 after acquiring an additional 1,157,825 shares during the period. Vestal Point Capital LP increased its stake in shares of Day One Biopharmaceuticals by 100.0% during the third quarter. Vestal Point Capital LP now owns 2,500,000 shares of the company's stock valued at $34,825,000 after acquiring an additional 1,250,000 shares during the period. Finally, Maverick Capital Ltd. increased its stake in shares of Day One Biopharmaceuticals by 74.5% during the third quarter. Maverick Capital Ltd. now owns 2,114,006 shares of the company's stock valued at $29,448,000 after acquiring an additional 902,868 shares during the period. Institutional investors own 87.95% of the company's stock.

Insider Transactions at Day One Biopharmaceuticals

In related news, insider Samuel C. Blackman sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $14.22, for a total value of $426,600.00. Following the transaction, the insider now directly 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 SEC, which is available at the SEC website. Over the last three months, insiders have sold 51,745 shares of company stock worth $775,867. Corporate insiders own 8.40% of the company's stock.

Analysts Set New Price Targets

DAWN has been the topic of several recent research reports. Needham & Company LLC restated a "buy" rating and issued a $33.00 price target on shares of Day One Biopharmaceuticals in a research report on Thursday, October 31st. JPMorgan Chase & Co. decreased their price target on shares of Day One Biopharmaceuticals from $38.00 to $36.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 6th. TD Cowen upgraded shares of Day One Biopharmaceuticals to a "strong-buy" rating in a research report on Monday, November 4th. Finally, HC Wainwright reiterated a "buy" rating and set a $40.00 price objective on shares of Day One Biopharmaceuticals in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $35.71.

Day One Biopharmaceuticals Trading Up 1.5 %

NASDAQ DAWN traded up $0.21 on Wednesday, reaching $13.80. The company's stock had a trading volume of 3,380,040 shares, compared to its average volume of 962,516. The firm has a market cap of $1.39 billion, a PE ratio of -13.42 and a beta of -1.51. The business has a 50-day moving average price of $14.30 and a 200 day moving average price of $14.10. Day One Biopharmaceuticals, Inc. has a 52 week low of $11.51 and a 52 week high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating analysts' consensus estimates of ($0.20) by $0.58. The firm 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 earned ($0.54) earnings per share. Analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.88 earnings per share for the current fiscal year.

Day One Biopharmaceuticals 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.