First Turn Management LLC Makes New Investment in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

First Turn Management LLC bought a new position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 947,878 shares of the company’s stock, valued at approximately $13,204,000. Day One Biopharmaceuticals comprises 2.1% of First Turn Management LLC’s investment portfolio, making the stock its 28th largest holding.

Other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Day One Biopharmaceuticals by 38.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,611 shares of the company’s stock valued at $51,000 after buying an additional 1,002 shares during the period. Quest Partners LLC grew its stake in shares of Day One Biopharmaceuticals by 9,238.6% during the 3rd quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock valued at $108,000 after buying an additional 7,668 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Day One Biopharmaceuticals during the 2nd quarter valued at $113,000. Point72 DIFC Ltd purchased a new stake in shares of Day One Biopharmaceuticals during the 2nd quarter valued at $124,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Day One Biopharmaceuticals during the 2nd quarter valued at $163,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Bank of America upgraded shares of Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and lifted their target price for the company from $11.00 to $24.00 in a report on Thursday, August 1st. HC Wainwright restated a “buy” rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a report on Thursday, October 31st. JPMorgan Chase & Co. reduced their target price on shares of Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. TD Cowen upgraded shares of Day One Biopharmaceuticals to a “strong-buy” rating in a report on Monday, November 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $33.00 target price on shares of Day One Biopharmaceuticals in a report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $35.71.

Insider Transactions at Day One Biopharmaceuticals

In other news, insider Samuel C. Blackman sold 10,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $16.10, for a total value of $161,000.00. Following the completion of the sale, the insider now owns 1,057,535 shares of the company’s stock, valued at approximately $17,026,313.50. The trade was a 0.94 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders sold 51,745 shares of company stock valued at $775,867. Insiders own 8.40% of the company’s stock.

Day One Biopharmaceuticals Price Performance

Shares of DAWN stock opened at $13.01 on Tuesday. Day One Biopharmaceuticals, Inc. has a 12 month low of $11.30 and a 12 month high of $18.07. The firm has a market capitalization of $1.31 billion, a P/E ratio of -12.63 and a beta of -1.51. The company’s fifty day moving average price is $14.40 and its two-hundred day moving average price is $14.31.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.58. The firm had revenue of $93.76 million during the quarter, compared to analyst estimates of $15.05 million. During the same quarter in the prior year, the firm earned ($0.54) EPS. On average, sell-side analysts anticipate that Day One Biopharmaceuticals, Inc. will post -0.88 EPS for the current 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.