Massachusetts Financial Services Co. MA Makes New Investment in Day One Biopharmaceuticals, Inc. $DAWN

Massachusetts Financial Services Co. MA acquired a new position in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) in the 4th quarter, Holdings Channel.com reports. The fund acquired 150,925 shares of the company’s stock, valued at approximately $1,407,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Federated Hermes Inc. purchased a new position in Day One Biopharmaceuticals during the third quarter worth $39,000. Quarry LP purchased a new position in Day One Biopharmaceuticals during the third quarter worth $49,000. Prudential Financial Inc. purchased a new position in Day One Biopharmaceuticals during the second quarter worth $69,000. Lazard Asset Management LLC purchased a new position in Day One Biopharmaceuticals during the second quarter worth $89,000. Finally, AXQ Capital LP purchased a new position in Day One Biopharmaceuticals during the third quarter worth $115,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. Zacks Research lowered shares of Day One Biopharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. TD Cowen lowered shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research note on Monday, December 29th. Oppenheimer reissued a “market perform” rating on shares of Day One Biopharmaceuticals in a research note on Friday, March 6th. Finally, JonesTrading lowered shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating and boosted their target price for the company from $20.00 to $21.50 in a research note on Friday, March 6th. One investment analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $23.29.

Insider Transactions at Day One Biopharmaceuticals

In related news, insider Lauren Merendino sold 5,814 shares of Day One Biopharmaceuticals stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total value of $67,442.40. Following the completion of the sale, the insider directly owned 60,157 shares in the company, valued at $697,821.20. The trade was a 8.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Jeremy Bender sold 15,459 shares of Day One Biopharmaceuticals stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $11.60, for a total value of $179,324.40. Following the completion of the sale, the chief executive officer owned 204,603 shares of the company’s stock, valued at $2,373,394.80. The trade was a 7.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 36,461 shares of company stock valued at $422,948 over the last three months. 6.20% of the stock is currently owned by corporate insiders.

Day One Biopharmaceuticals Price Performance

DAWN stock opened at $21.47 on Friday. The business has a 50-day moving average price of $17.61 and a 200 day moving average price of $12.01. The company has a market capitalization of $2.22 billion, a P/E ratio of -20.84 and a beta of -1.74. Day One Biopharmaceuticals, Inc. has a 1-year low of $5.64 and a 1-year high of $21.49.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings data on Tuesday, February 24th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.04). The firm had revenue of $53.72 million during the quarter, compared to the consensus estimate of $49.81 million. Day One Biopharmaceuticals had a negative net margin of 67.85% and a negative return on equity of 23.43%. On average, analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

About Day One Biopharmaceuticals

Day One Biopharmaceuticals, Inc (NASDAQ: DAWN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted therapies for oncology. The company employs a precision medicine approach, leveraging biomarker-driven strategies to identify patient populations most likely to respond to its investigational compounds. By concentrating on well-validated molecular drivers of cancer, Day One seeks to deliver first-in-class or best-in-class therapies with the potential for meaningful clinical benefit.

The company’s pipeline includes several small-molecule candidates in various stages of development.