Skandinaviska Enskilda Banken AB publ Purchases New Position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Skandinaviska Enskilda Banken AB publ bought a new position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 41,771 shares of the company's stock, valued at approximately $525,000.

Other hedge funds also recently made changes to their positions in the company. FMR LLC lifted its stake in Day One Biopharmaceuticals by 178.5% in the 3rd quarter. FMR LLC now owns 7,412,380 shares of the company's stock valued at $103,254,000 after purchasing an additional 4,750,936 shares during the last quarter. Braidwell LP increased its holdings 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 worth $67,893,000 after buying an additional 1,837,949 shares in the last quarter. Vestal Point Capital LP lifted its stake 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 valued at $34,825,000 after acquiring an additional 1,250,000 shares during the last quarter. First Turn Management LLC acquired a new stake in shares of Day One Biopharmaceuticals during the 3rd quarter valued at $13,204,000. Finally, Maverick Capital Ltd. grew its position in Day One Biopharmaceuticals by 74.5% during the 3rd quarter. Maverick Capital Ltd. now owns 2,114,006 shares of the company's stock worth $29,448,000 after acquiring an additional 902,868 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DAWN has been the subject of several research reports. HC Wainwright dropped their target price on Day One Biopharmaceuticals from $40.00 to $36.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. JPMorgan Chase & Co. reduced their target price on shares of Day One Biopharmaceuticals from $39.00 to $34.00 and set an "overweight" rating on the stock in a report on Wednesday, March 5th. Bank of America decreased their price target on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group reduced their price objective on shares of Day One Biopharmaceuticals from $48.00 to $43.00 and set a "buy" rating on the stock in a research note on Monday, February 10th. Finally, Wedbush reaffirmed an "outperform" rating and set a $32.00 target price on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $34.57.

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Day One Biopharmaceuticals Stock Down 1.2 %

Day One Biopharmaceuticals stock traded down $0.10 during trading hours on Friday, reaching $8.23. 1,688,278 shares of the company's stock were exchanged, compared to its average volume of 1,083,557. The firm has a market capitalization of $834.15 million, a PE ratio of -7.99 and a beta of -1.38. The firm's 50 day simple moving average is $11.04 and its 200 day simple moving average is $12.86. Day One Biopharmaceuticals, Inc. has a twelve month low of $7.88 and a twelve month high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported ($0.69) EPS 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 analyst estimates of $27.11 million. Analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Insiders Place Their Bets

In other Day One Biopharmaceuticals news, General Counsel Adam Dubow sold 4,646 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total value of $55,566.16. Following the completion of the sale, the general counsel now owns 39,602 shares of the company's stock, valued at approximately $473,639.92. This trade represents a 10.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeremy Bender sold 12,048 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $144,094.08. Following the sale, the chief executive officer now owns 128,015 shares of the company's stock, valued at approximately $1,531,059.40. This represents a 8.60 % decrease in their position. 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 currently owned by company insiders.

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.