Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Stake Lowered by Voya Investment Management LLC

Voya Investment Management LLC cut its stake in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 9.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,801 shares of the company’s stock after selling 1,648 shares during the quarter. Voya Investment Management LLC’s holdings in Day One Biopharmaceuticals were worth $200,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. R Squared Ltd acquired a new stake in Day One Biopharmaceuticals during the fourth quarter valued at $31,000. Tower Research Capital LLC TRC increased its position in Day One Biopharmaceuticals by 911.1% in the 4th 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 stake in shares of Day One Biopharmaceuticals during the 4th quarter worth about $143,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Day One Biopharmaceuticals during the 4th quarter worth about $150,000. Finally, Optimize Financial Inc acquired a new stake in shares of Day One Biopharmaceuticals during the 4th quarter valued at about $196,000. 87.95% of the stock is owned by institutional investors and hedge funds.

Day One Biopharmaceuticals Stock Down 3.8%

Shares of DAWN stock opened at $6.33 on Wednesday. Day One Biopharmaceuticals, Inc. has a 12 month low of $6.10 and a 12 month high of $17.14. The firm has a market cap of $641.62 million, a PE ratio of -6.15 and a beta of -1.24. The stock has a 50 day moving average of $7.58 and a 200-day moving average of $10.97.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings results on Tuesday, May 6th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.46) by $0.11. The company had revenue of $30.76 million during the quarter, compared to the consensus estimate of $30.28 million. As a group, equities analysts predict that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Adam Dubow sold 4,646 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total value of $55,566.16. Following the completion of the transaction, the general counsel now directly owns 39,602 shares in the company, valued at approximately $473,639.92. This represents a 10.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jeremy Bender sold 12,048 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 128,015 shares in the company, 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 21,064 shares of company stock valued at $251,925. Insiders own 6.20% of the company’s stock.

Analyst Ratings Changes

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

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.