Hennion & Walsh Asset Management Inc. Buys 218,383 Shares of Day One Biopharmaceuticals, Inc. $DAWN

Hennion & Walsh Asset Management Inc. lifted its stake in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 229.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 313,455 shares of the company’s stock after purchasing an additional 218,383 shares during the period. Hennion & Walsh Asset Management Inc. owned 0.31% of Day One Biopharmaceuticals worth $2,921,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of DAWN. Deerfield Management Company L.P. grew its holdings in Day One Biopharmaceuticals by 26.4% during the third quarter. Deerfield Management Company L.P. now owns 4,705,413 shares of the company’s stock valued at $33,173,000 after purchasing an additional 982,282 shares during the period. Rubric Capital Management LP purchased a new stake in Day One Biopharmaceuticals in the third quarter worth $23,808,000. Vestal Point Capital LP raised its stake in shares of Day One Biopharmaceuticals by 15.5% in the second quarter. Vestal Point Capital LP now owns 3,000,000 shares of the company’s stock valued at $19,500,000 after buying an additional 401,873 shares during the period. Geode Capital Management LLC lifted its position in shares of Day One Biopharmaceuticals by 11.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,712,429 shares of the company’s stock valued at $11,132,000 after buying an additional 171,964 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Day One Biopharmaceuticals by 232.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,569,918 shares of the company’s stock valued at $12,449,000 after buying an additional 1,097,679 shares during the last quarter. Institutional investors own 87.95% of the company’s stock.

Insider Buying and Selling at Day One Biopharmaceuticals

In other news, insider Michael Vasconcelles sold 2,728 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total transaction of $31,644.80. Following the sale, the insider directly owned 4,397 shares in the company, valued at $51,005.20. This represents a 38.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Adam Dubow sold 6,395 shares of the stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total transaction of $74,182.00. Following the completion of the sale, the insider directly owned 72,694 shares in the company, valued at approximately $843,250.40. The trade was a 8.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 36,461 shares of company stock worth $422,948. 6.20% of the stock is owned by corporate insiders.

Day One Biopharmaceuticals Price Performance

Day One Biopharmaceuticals stock opened at $21.44 on Wednesday. The firm has a market capitalization of $2.21 billion, a P/E ratio of -20.82 and a beta of -1.25. Day One Biopharmaceuticals, Inc. has a one year low of $5.64 and a one year high of $21.46. The business has a fifty day moving average price of $15.03 and a 200-day moving average price of $10.75.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings data on Tuesday, February 24th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). The company had revenue of $53.72 million for the quarter, compared to the consensus estimate of $49.81 million. Day One Biopharmaceuticals had a negative net margin of 67.85% and a negative return on equity of 23.43%. Sell-side analysts expect that Day One Biopharmaceuticals, Inc. will post -0.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Zacks Research lowered Day One Biopharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. TD Cowen downgraded shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a report on Friday, March 6th. JonesTrading lowered shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating and increased their target price for the stock from $20.00 to $21.50 in a research report on Friday, March 6th. Oppenheimer reiterated a “market perform” rating on shares of Day One Biopharmaceuticals in a research note on Friday, March 6th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $21.50 price target (down from $27.00) on shares of Day One Biopharmaceuticals in a research report on Wednesday, March 11th. One analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $23.29.

Day One Biopharmaceuticals Profile

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.