Essex Investment Management Co. LLC Boosts Stake in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Essex Investment Management Co. LLC lifted its holdings in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 12.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 207,574 shares of the company’s stock after acquiring an additional 23,344 shares during the quarter. Essex Investment Management Co. LLC owned 0.21% of Day One Biopharmaceuticals worth $2,630,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of DAWN. China Universal Asset Management Co. Ltd. increased its holdings in shares of Day One Biopharmaceuticals by 11.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 21,383 shares of the company’s stock valued at $271,000 after acquiring an additional 2,180 shares during the last quarter. R Squared Ltd bought a new stake in Day One Biopharmaceuticals during the fourth quarter valued at $31,000. Handelsbanken Fonder AB raised its holdings in shares of Day One Biopharmaceuticals by 16.7% during the fourth quarter. Handelsbanken Fonder AB now owns 31,500 shares of the company’s stock worth $399,000 after purchasing an additional 4,500 shares during the period. Martingale Asset Management L P lifted its position in shares of Day One Biopharmaceuticals by 9.6% in the 3rd quarter. Martingale Asset Management L P now owns 71,304 shares of the company’s stock worth $993,000 after buying an additional 6,219 shares during the last quarter. Finally, Verition Fund Management LLC boosted its holdings in shares of Day One Biopharmaceuticals by 31.4% in the 3rd quarter. Verition Fund Management LLC now owns 31,075 shares of the company’s stock valued at $433,000 after buying an additional 7,422 shares during the period. Institutional investors and hedge funds own 87.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DAWN. JPMorgan Chase & Co. decreased their target price on Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Bank of America lowered their price objective on Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Needham & Company LLC reissued a “buy” rating and set a $32.00 price target on shares of Day One Biopharmaceuticals in a report on Wednesday, February 26th. Wedbush restated an “outperform” rating and set a $32.00 price target on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. Finally, The Goldman Sachs Group cut 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 report on Monday, February 10th. Seven research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $34.57.

Insider Activity at Day One Biopharmaceuticals

In related news, CFO Charles N. York II sold 4,370 shares of the stock in a transaction dated 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 in the company, valued at $3,021,550.48. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 completion of the transaction, the chief executive officer now owns 128,015 shares of the company’s stock, valued at $1,531,059.40. This trade represents a 8.60 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,064 shares of company stock worth $651,225. Company insiders own 8.40% of the company’s stock.

Day One Biopharmaceuticals Price Performance

NASDAQ DAWN opened at $8.67 on Monday. Day One Biopharmaceuticals, Inc. has a fifty-two week low of $8.02 and a fifty-two week high of $18.07. The stock’s 50-day moving average is $11.77 and its two-hundred day moving average is $13.19. The firm has a market cap of $878.75 million, a P/E ratio of -8.42 and a beta of -1.38.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its earnings results on Tuesday, February 25th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.34). The company had revenue of $29.21 million for the quarter, compared to analyst estimates of $27.11 million. On average, equities analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Day One Biopharmaceuticals Company 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.