Hudson Bay Capital Management LP Boosts Stake in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Hudson Bay Capital Management LP lifted its stake in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 27.8% in the 4th quarter, HoldingsChannel reports. The firm owned 920,108 shares of the company’s stock after buying an additional 200,000 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Day One Biopharmaceuticals were worth $11,658,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of DAWN. FMR LLC increased its stake in shares of Day One Biopharmaceuticals by 73.9% during the 4th quarter. FMR LLC now owns 12,887,467 shares of the company’s stock worth $163,284,000 after purchasing an additional 5,475,087 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of Day One Biopharmaceuticals during the 4th quarter worth approximately $31,829,000. Boxer Capital Management LLC purchased a new position in Day One Biopharmaceuticals in the 4th quarter valued at approximately $15,077,000. Marshall Wace LLP purchased a new position in Day One Biopharmaceuticals in the 4th quarter valued at approximately $13,909,000. Finally, Estuary Capital Management LP grew its stake in Day One Biopharmaceuticals by 35.5% in the 4th quarter. Estuary Capital Management LP now owns 3,716,777 shares of the company’s stock valued at $47,092,000 after buying an additional 972,997 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Needham & Company LLC reduced their price objective on shares of Day One Biopharmaceuticals from $30.00 to $27.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Wedbush reiterated an “outperform” rating and issued a $25.00 price objective on shares of Day One Biopharmaceuticals in a research note on Wednesday, May 7th. HC Wainwright reiterated a “buy” rating and issued a $36.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, April 3rd. The Goldman Sachs Group reduced their price objective on shares of Day One Biopharmaceuticals from $39.00 to $27.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of 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. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $30.57.

Insider Transactions at Day One Biopharmaceuticals

In related news, CFO Charles N. York II sold 4,370 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total value of $52,265.20. Following the transaction, 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 Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeremy Bender sold 12,048 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, February 18th. The stock was 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 in the company, valued at approximately $1,531,059.40. The trade was a 8.60% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,064 shares of company stock valued at $251,925. Insiders own 6.20% of the company’s stock.

Day One Biopharmaceuticals Price Performance

Shares of NASDAQ:DAWN opened at $6.45 on Monday. The firm has a fifty day moving average price of $7.70 and a two-hundred day moving average price of $11.05. Day One Biopharmaceuticals, Inc. has a one year low of $6.26 and a one year high of $17.14. The company has a market cap of $653.78 million, a price-to-earnings ratio of -6.26 and a beta of -1.24.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings results on Tuesday, May 6th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.46) by $0.11. The firm had revenue of $30.76 million during the quarter, compared to the consensus estimate of $30.28 million. Equities research analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.

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.