Pictet Asset Management Holding SA Increases Holdings in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Pictet Asset Management Holding SA raised its holdings in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) by 17.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,490,064 shares of the company’s stock after buying an additional 507,398 shares during the quarter. Pictet Asset Management Holding SA owned about 3.46% of Day One Biopharmaceuticals worth $44,219,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. FMR LLC lifted its position in shares of Day One Biopharmaceuticals by 178.5% in the 3rd quarter. FMR LLC now owns 7,412,380 shares of the company’s stock worth $103,254,000 after purchasing an additional 4,750,936 shares during the period. Franklin Resources Inc. grew its stake in Day One Biopharmaceuticals by 2.3% in the third quarter. Franklin Resources Inc. now owns 3,869,632 shares of the company’s stock worth $55,336,000 after purchasing an additional 87,262 shares during the period. Janus Henderson Group PLC lifted its position in Day One Biopharmaceuticals by 18.4% during the third quarter. Janus Henderson Group PLC now owns 2,177,197 shares of the company’s stock valued at $30,307,000 after buying an additional 337,928 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Day One Biopharmaceuticals by 10.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,432,697 shares of the company’s stock valued at $19,961,000 after buying an additional 136,458 shares in the last quarter. Finally, Parkman Healthcare Partners LLC grew its position in shares of Day One Biopharmaceuticals by 1.7% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 924,140 shares of the company’s stock worth $12,873,000 after buying an additional 15,318 shares during the period. 87.95% of the stock is owned by hedge funds and other institutional investors.

Day One Biopharmaceuticals Stock Performance

NASDAQ DAWN opened at $8.07 on Monday. The business’s fifty day moving average is $10.60 and its 200 day moving average is $12.59. Day One Biopharmaceuticals, Inc. has a fifty-two week low of $7.88 and a fifty-two week high of $18.07. The company has a market capitalization of $817.93 million, a PE ratio of -7.83 and a beta of -1.38.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its earnings results on Tuesday, February 25th. The company reported ($0.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.34). The company had revenue of $29.21 million for the quarter, compared to the consensus estimate of $27.11 million. On average, sell-side analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Insider Activity at Day One Biopharmaceuticals

In related news, CEO Jeremy Bender sold 12,048 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $11.96, for a total transaction of $144,094.08. Following the completion of the transaction, the chief executive officer now owns 128,015 shares in the company, valued at approximately $1,531,059.40. This represents a 8.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Adam Dubow sold 4,646 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $11.96, for a total value of $55,566.16. Following the completion of the sale, the general counsel now owns 39,602 shares in the company, valued at $473,639.92. This represents a 10.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,064 shares of company stock worth $251,925. 8.40% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Bank of America lowered their target price on shares of Day One Biopharmaceuticals from $28.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Needham & Company LLC restated a “buy” rating and set a $32.00 price objective on shares of Day One Biopharmaceuticals in a research note on Wednesday, February 26th. Wedbush reissued an “outperform” rating and set a $32.00 price target on shares of Day One Biopharmaceuticals in a research report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their price target on Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, March 5th. Finally, HC Wainwright reduced their price objective on Day One Biopharmaceuticals from $40.00 to $36.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $32.29.

About Day One Biopharmaceuticals

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.