Trexquant Investment LP Invests $1.12 Million in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Trexquant Investment LP bought a new position in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 87,972 shares of the company's stock, valued at approximately $1,115,000. Trexquant Investment LP owned about 0.09% of Day One Biopharmaceuticals at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in Day One Biopharmaceuticals during the 4th quarter worth about $31,000. E Fund Management Co. Ltd. bought a new stake in Day One Biopharmaceuticals in the fourth quarter valued at approximately $143,000. KLP Kapitalforvaltning AS acquired a new stake in Day One Biopharmaceuticals during the 4th quarter valued at approximately $150,000. XTX Topco Ltd bought a new position in Day One Biopharmaceuticals during the 3rd quarter worth approximately $178,000. Finally, Teacher Retirement System of Texas lifted its position in shares of Day One Biopharmaceuticals by 20.9% in 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 during the period. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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Day One Biopharmaceuticals Stock Performance

Shares of DAWN stock traded down $0.11 on Tuesday, hitting $7.11. 476,610 shares of the company's stock traded hands, compared to its average volume of 1,116,669. Day One Biopharmaceuticals, Inc. has a one year low of $6.41 and a one year high of $18.07. The company's fifty day simple moving average is $9.23 and its 200 day simple moving average is $11.98. The stock has a market capitalization of $720.63 million, a price-to-earnings ratio of -6.90 and a beta of -1.24.

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

Insider Buying and Selling

In other news, CFO Charles N. York II sold 4,370 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total transaction of $52,265.20. Following the completion of the sale, the chief financial officer now owns 252,638 shares of the company's stock, valued at $3,021,550.48. The trade was a 1.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jeremy Bender sold 12,048 shares of Day One Biopharmaceuticals 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 $144,094.08. Following the transaction, the chief executive officer now directly owns 128,015 shares in the company, valued at $1,531,059.40. This represents a 8.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,064 shares of company stock worth $251,925 in the last 90 days. Insiders own 8.40% of the company's stock.

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.