Perkins Capital Management Inc. Invests $580,000 in Day One Biopharmaceuticals, Inc. $DAWN

Perkins Capital Management Inc. bought a new stake in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 82,250 shares of the company’s stock, valued at approximately $580,000.

A number of other institutional investors also recently modified their holdings of DAWN. AIGH Capital Management LLC bought a new position in Day One Biopharmaceuticals in the third quarter valued at about $10,719,000. SG Americas Securities LLC acquired a new position in shares of Day One Biopharmaceuticals during the third quarter valued at about $186,000. Hudson Bay Capital Management LP raised its stake in Day One Biopharmaceuticals by 12.7% during the 2nd quarter. Hudson Bay Capital Management LP now owns 1,296,700 shares of the company’s stock worth $8,429,000 after buying an additional 146,300 shares during the period. Vestal Point Capital LP lifted its holdings in shares of Day One Biopharmaceuticals by 15.5% in the 2nd quarter. Vestal Point Capital LP now owns 3,000,000 shares of the company’s stock worth $19,500,000 after purchasing an additional 401,873 shares in the last quarter. Finally, Man Group plc grew its holdings in shares of Day One Biopharmaceuticals by 46.1% during the second quarter. Man Group plc now owns 56,862 shares of the company’s stock valued at $370,000 after buying an additional 17,950 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Day One Biopharmaceuticals Stock Down 3.2%

DAWN stock opened at $11.95 on Monday. The firm has a market cap of $1.23 billion, a PE ratio of -7.86 and a beta of -1.27. Day One Biopharmaceuticals, Inc. has a twelve month low of $5.64 and a twelve month high of $13.53. The business has a 50 day moving average of $9.36 and a 200 day moving average of $8.00.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.09. Day One Biopharmaceuticals had a negative net margin of 113.53% and a negative return on equity of 32.05%. The firm had revenue of $39.80 million during the quarter, compared to analyst estimates of $38.20 million. During the same period in the previous year, the business posted $0.38 earnings per share. The business’s revenue for the quarter was down 57.6% on a year-over-year basis. On average, research analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jeremy Bender sold 15,894 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $8.91, for a total value of $141,615.54. Following the transaction, the chief executive officer directly owned 177,165 shares in the company, valued at $1,578,540.15. The trade was a 8.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adam Dubow sold 4,319 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $8.91, for a total value of $38,482.29. Following the completion of the transaction, the insider directly owned 62,626 shares of the company’s stock, valued at approximately $557,997.66. This trade represents a 6.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 28,001 shares of company stock worth $249,489. 6.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on DAWN. TD Cowen assumed coverage on shares of Day One Biopharmaceuticals in a research note on Tuesday, January 13th. They issued a “buy” rating and a $34.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a report on Monday, December 29th. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 price target on shares of Day One Biopharmaceuticals in a report on Monday, November 24th. JPMorgan Chase & Co. boosted their price objective on shares of Day One Biopharmaceuticals from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Zacks Research upgraded Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.71.

About Day One Biopharmaceuticals

Day One Biopharmaceuticals, Inc (NASDAQ: DAWN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted therapies for oncology. The company employs a precision medicine approach, leveraging biomarker-driven strategies to identify patient populations most likely to respond to its investigational compounds. By concentrating on well-validated molecular drivers of cancer, Day One seeks to deliver first-in-class or best-in-class therapies with the potential for meaningful clinical benefit.

The company’s pipeline includes several small-molecule candidates in various stages of development.