Two Sigma Investments LP Cuts Stock Position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Two Sigma Investments LP lowered its holdings in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 33.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 271,776 shares of the company’s stock after selling 135,725 shares during the period. Two Sigma Investments LP owned about 0.27% of Day One Biopharmaceuticals worth $3,443,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of DAWN. R Squared Ltd purchased a new position in Day One Biopharmaceuticals in the fourth quarter worth $31,000. Tower Research Capital LLC TRC boosted its position in Day One Biopharmaceuticals by 911.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,657 shares of the company’s stock worth $135,000 after purchasing an additional 9,603 shares during the last quarter. E Fund Management Co. Ltd. purchased a new position in Day One Biopharmaceuticals in the fourth quarter worth $143,000. KLP Kapitalforvaltning AS purchased a new position in Day One Biopharmaceuticals in the fourth quarter worth $150,000. Finally, Man Group plc purchased a new position in Day One Biopharmaceuticals in the fourth quarter worth $162,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on DAWN shares. JPMorgan Chase & Co. dropped their price target on Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 5th. HC Wainwright reaffirmed a “buy” rating and set a $36.00 price target on shares of Day One Biopharmaceuticals in a research report on Thursday, April 3rd. The Goldman Sachs Group dropped their price target on Day One Biopharmaceuticals from $39.00 to $27.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Needham & Company LLC dropped their price target on Day One Biopharmaceuticals from $30.00 to $27.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Finally, Wedbush reaffirmed an “outperform” rating and set a $25.00 price target on shares of Day One Biopharmaceuticals in a research report on Wednesday, May 7th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $30.57.

Day One Biopharmaceuticals Stock Up 2.7%

Shares of NASDAQ DAWN opened at $6.48 on Friday. The firm has a market capitalization of $656.83 million, a P/E ratio of -6.29 and a beta of -1.24. The stock’s 50-day simple moving average is $7.08 and its two-hundred day simple moving average is $10.27. Day One Biopharmaceuticals, Inc. has a twelve month low of $6.08 and a twelve month high of $16.76.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $30.28 million. As a group, research analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Charles N. York II sold 4,282 shares of the firm’s stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $6.26, for a total transaction of $26,805.32. Following the transaction, the chief financial officer now directly owns 265,231 shares in the company, valued at $1,660,346.06. This trade represents a 1.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeremy Bender sold 13,964 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $6.26, for a total value of $87,414.64. Following the completion of the sale, the chief executive officer now owns 145,737 shares in the company, valued at approximately $912,313.62. This represents a 8.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,725 shares of company stock worth $167,299 in the last ninety days. 6.20% of the stock is owned by insiders.

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.