Vestal Point Capital LP Boosts Position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Vestal Point Capital LP increased its holdings in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Free Report) by 100.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,500,000 shares of the company's stock after buying an additional 1,250,000 shares during the quarter. Day One Biopharmaceuticals comprises approximately 2.6% of Vestal Point Capital LP's investment portfolio, making the stock its 13th largest holding. Vestal Point Capital LP owned 2.48% of Day One Biopharmaceuticals worth $34,825,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. FMR LLC increased its stake in shares of Day One Biopharmaceuticals by 178.5% in the third quarter. FMR LLC now owns 7,412,380 shares of the company's stock worth $103,254,000 after acquiring an additional 4,750,936 shares during the period. Deerfield Management Company L.P. Series C boosted its position in 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 worth $40,281,000 after purchasing an additional 1,157,825 shares in the last quarter. TimesSquare Capital Management LLC grew its stake in Day One Biopharmaceuticals by 8.2% in the 3rd quarter. TimesSquare Capital Management LLC now owns 1,827,695 shares of the company's stock valued at $25,460,000 after acquiring an additional 139,160 shares during the period. First Turn Management LLC acquired a new stake in shares of Day One Biopharmaceuticals in the third quarter valued at about $13,204,000. Finally, Ally Bridge Group NY LLC acquired a new stake in Day One Biopharmaceuticals in the 2nd quarter worth about $7,387,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on DAWN. HC Wainwright reaffirmed a "buy" rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a report on Thursday, October 31st. Bank of America upgraded Day One Biopharmaceuticals from an "underperform" rating to a "buy" rating and increased their price target for the stock from $11.00 to $24.00 in a report on Thursday, August 1st. TD Cowen raised shares of Day One Biopharmaceuticals to a "strong-buy" rating in a research note on Monday, November 4th. JPMorgan Chase & Co. decreased their price objective on shares of Day One Biopharmaceuticals from $38.00 to $36.00 and set an "overweight" rating on the stock in a report on Tuesday, August 6th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $33.00 target price on shares of Day One Biopharmaceuticals in a report on Thursday, October 31st. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Day One Biopharmaceuticals has an average rating of "Buy" and a consensus target price of $35.71.

Day One Biopharmaceuticals Stock Up 1.5 %

Day One Biopharmaceuticals stock traded up $0.21 during mid-day trading on Friday, reaching $13.93. 450,319 shares of the company's stock were exchanged, compared to its average volume of 953,851. Day One Biopharmaceuticals, Inc. has a twelve month low of $11.30 and a twelve month high of $18.07. The company has a market cap of $1.40 billion, a P/E ratio of -13.52 and a beta of -1.51. The company has a fifty day moving average of $14.34 and a 200-day moving average of $14.18.

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 (EPS) for the quarter, beating the consensus estimate of ($0.20) by $0.58. The company had revenue of $93.76 million during the quarter, compared to analyst estimates of $15.05 million. During the same quarter in the previous year, the business posted ($0.54) earnings per share. Equities research analysts expect that Day One Biopharmaceuticals, Inc. will post -0.88 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Samuel C. Blackman sold 11,245 shares of the firm's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $16.03, for a total value of $180,257.35. Following the sale, the insider now directly owns 1,085,790 shares in the company, valued at approximately $17,405,213.70. This trade represents a 1.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders sold 51,745 shares of company stock worth $775,867. 8.40% of the stock is currently owned by company insiders.

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.