Stonepine Capital Management LLC Buys New Position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Stonepine Capital Management LLC bought a new stake in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 205,675 shares of the company’s stock, valued at approximately $2,865,000. Day One Biopharmaceuticals makes up about 1.8% of Stonepine Capital Management LLC’s holdings, making the stock its 18th largest position.

Other hedge funds also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Day One Biopharmaceuticals by 38.4% during the third 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 last quarter. Quest Partners LLC boosted its position in Day One Biopharmaceuticals by 9,238.6% in the third quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock worth $108,000 after purchasing an additional 7,668 shares during the last quarter. SG Americas Securities LLC purchased a new position in Day One Biopharmaceuticals in the second quarter worth $113,000. Point72 DIFC Ltd purchased a new position in Day One Biopharmaceuticals in the second quarter worth $124,000. Finally, Hsbc Holdings PLC purchased a new position in Day One Biopharmaceuticals in the second quarter worth $163,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Wall Street Analyst Weigh In

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

Day One Biopharmaceuticals Price Performance

Shares of DAWN traded up $0.16 during mid-day trading on Wednesday, hitting $13.70. The stock had a trading volume of 60,830 shares, compared to its average volume of 953,666. Day One Biopharmaceuticals, Inc. has a 52 week low of $11.30 and a 52 week high of $18.07. The firm has a market cap of $1.38 billion, a P/E ratio of -13.15 and a beta of -1.51. The business has a fifty day moving average price of $14.36 and a 200-day moving average price of $14.20.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings data 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 the consensus estimate of $15.05 million. During the same quarter in the previous year, the firm posted ($0.54) earnings per share. As a group, research analysts expect that Day One Biopharmaceuticals, Inc. will post -0.88 earnings per share for the current fiscal year.

Insider Activity at Day One Biopharmaceuticals

In related news, insider Samuel C. Blackman sold 30,000 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $14.22, for a total transaction of $426,600.00. Following the sale, the insider now directly owns 1,097,535 shares in the company, valued at approximately $15,606,947.70. The trade was a 2.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 51,745 shares of company stock worth $775,867. 8.40% of the stock is owned by company insiders.

Day One Biopharmaceuticals 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.