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

First Turn Management LLC purchased a new position in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 947,878 shares of the company’s stock, valued at approximately $13,204,000. Day One Biopharmaceuticals comprises approximately 2.1% of First Turn Management LLC’s holdings, making the stock its 28th biggest position. First Turn Management LLC owned about 0.94% of Day One Biopharmaceuticals at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Quest Partners LLC grew its holdings in shares of Day One Biopharmaceuticals by 9,238.6% during the third quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock worth $108,000 after buying an additional 7,668 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Day One Biopharmaceuticals during the third quarter worth about $825,000. TimesSquare Capital Management LLC grew its holdings in shares of Day One Biopharmaceuticals by 8.2% during the third quarter. TimesSquare Capital Management LLC now owns 1,827,695 shares of the company’s stock worth $25,460,000 after buying an additional 139,160 shares during the last quarter. SteelPeak Wealth LLC grew its holdings in shares of Day One Biopharmaceuticals by 9.8% during the third quarter. SteelPeak Wealth LLC now owns 17,400 shares of the company’s stock worth $242,000 after buying an additional 1,550 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. grew its holdings in shares of Day One Biopharmaceuticals by 87.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 19,203 shares of the company’s stock worth $267,000 after buying an additional 8,935 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Day One Biopharmaceuticals Trading Down 2.3 %

DAWN stock opened at $13.01 on Tuesday. The firm has a 50 day moving average of $14.40 and a 200-day moving average of $14.31. Day One Biopharmaceuticals, Inc. has a 12-month low of $11.30 and a 12-month high of $18.07. The company has a market cap of $1.31 billion, a price-to-earnings ratio of -12.63 and a beta of -1.51.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.58. The company had revenue of $93.76 million for the quarter, compared to analyst estimates of $15.05 million. During the same quarter in the previous year, the business posted ($0.54) earnings per share. Sell-side analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.88 earnings per share for the current fiscal year.

Insider Transactions at Day One Biopharmaceuticals

In other news, insider Samuel C. Blackman sold 11,245 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $16.03, for a total transaction of $180,257.35. Following the completion of the transaction, the insider now directly owns 1,085,790 shares of the company’s stock, valued at $17,405,213.70. This trade represents a 1.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 51,745 shares of company stock valued at $775,867 in the last ninety days. Corporate insiders own 8.40% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.