Vestal Point Capital LP Buys 1,250,000 Shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Vestal Point Capital LP raised its position in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 100.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,500,000 shares of the company’s stock after buying an additional 1,250,000 shares during the quarter. Day One Biopharmaceuticals accounts for 2.6% of Vestal Point Capital LP’s holdings, making the stock its 13th biggest holding. Vestal Point Capital LP owned 2.48% of Day One Biopharmaceuticals worth $34,825,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of DAWN. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Day One Biopharmaceuticals by 38.4% in 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 in the last quarter. Quest Partners LLC lifted its position 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 acquiring an additional 7,668 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Day One Biopharmaceuticals during the 2nd quarter worth $113,000. Point72 DIFC Ltd bought a new position in shares of Day One Biopharmaceuticals in the second quarter worth $124,000. Finally, Hsbc Holdings PLC acquired a new position in Day One Biopharmaceuticals in the second quarter valued at about $163,000. Institutional investors own 87.95% of the company’s stock.

Day One Biopharmaceuticals Price Performance

Shares of DAWN stock opened at $13.72 on Friday. The business’s 50-day moving average price is $14.35 and its 200-day moving average price is $14.18. Day One Biopharmaceuticals, Inc. has a 12 month low of $11.30 and a 12 month high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.58. The business had revenue of $93.76 million for the quarter, compared to the consensus estimate of $15.05 million. During the same period in the previous year, the firm earned ($0.54) earnings per share. Analysts predict that Day One Biopharmaceuticals, Inc. will post -0.88 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $33.00 target price on shares of Day One Biopharmaceuticals in a report on Thursday, October 31st. TD Cowen upgraded Day One Biopharmaceuticals to a “strong-buy” rating in a research note on Monday, November 4th. JPMorgan Chase & Co. decreased their price target on Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. HC Wainwright restated a “buy” rating and set a $40.00 price objective on shares of Day One Biopharmaceuticals in a research report on Thursday, October 31st. Finally, Bank of America upgraded 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 research report on Thursday, August 1st. One 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’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $35.71.

Insider Activity at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 30,000 shares of the company’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $14.22, for a total value of $426,600.00. Following the sale, the insider now 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 filing with the SEC, which is accessible through this link. Insiders sold 51,745 shares of company stock worth $775,867 over the last three months. Company insiders own 8.40% of the company’s stock.

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.