RA Capital Management L.P. Cuts Stake in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

RA Capital Management L.P. lessened its stake in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 26.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,755,577 shares of the company’s stock after selling 2,116,144 shares during the period. Day One Biopharmaceuticals comprises about 1.0% of RA Capital Management L.P.’s holdings, making the stock its 25th biggest position. RA Capital Management L.P. owned about 5.71% of Day One Biopharmaceuticals worth $72,923,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. 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. Franklin Resources Inc. increased its position in Day One Biopharmaceuticals by 0.3% in the fourth quarter. Franklin Resources Inc. now owns 3,882,952 shares of the company’s stock worth $49,197,000 after buying an additional 13,320 shares during the last quarter. Pictet Asset Management Holding SA raised its stake in shares of Day One Biopharmaceuticals by 17.0% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,490,064 shares of the company’s stock valued at $44,219,000 after buying an additional 507,398 shares during the period. Geode Capital Management LLC grew its stake in shares of Day One Biopharmaceuticals by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 1,462,982 shares of the company’s stock worth $18,541,000 after acquiring an additional 30,285 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Day One Biopharmaceuticals in the 4th quarter worth about $13,909,000. Institutional investors own 87.95% of the company’s stock.

Day One Biopharmaceuticals Stock Up 1.3 %

NASDAQ:DAWN opened at $7.78 on Thursday. The stock has a market cap of $788.53 million, a P/E ratio of -7.55 and a beta of -1.24. The business’s 50-day moving average price is $8.09 and its two-hundred day moving average price is $11.47. Day One Biopharmaceuticals, Inc. has a twelve month low of $6.41 and a twelve month high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its earnings results 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 company had revenue of $29.21 million for the quarter, compared to analyst estimates of $27.11 million. On average, equities research analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DAWN has been the topic of several recent research reports. The Goldman Sachs Group dropped their price objective on shares of Day One Biopharmaceuticals from $39.00 to $27.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Wedbush reiterated an “outperform” rating and issued a $32.00 price objective on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. Bank of America dropped 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. HC Wainwright reiterated a “buy” rating and set a $36.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, April 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 target price 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 data from MarketBeat.com, Day One Biopharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $32.29.

Insider Activity at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, CEO Jeremy Bender sold 12,048 shares of Day One Biopharmaceuticals 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 $144,094.08. Following the transaction, the chief executive officer now directly owns 128,015 shares of the company’s stock, valued at $1,531,059.40. The trade was a 8.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $55,566.16. Following the completion of the transaction, the general counsel now owns 39,602 shares in the company, valued at $473,639.92. This represents a 10.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,064 shares of company stock valued at $251,925 over the last 90 days. 6.20% of the stock is owned by 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.