Ally Bridge Group NY LLC Makes New $7.39 Million Investment in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Ally Bridge Group NY LLC acquired a new stake in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 536,095 shares of the company’s stock, valued at approximately $7,387,000. Day One Biopharmaceuticals makes up about 4.4% of Ally Bridge Group NY LLC’s holdings, making the stock its 10th biggest position. Ally Bridge Group NY LLC owned about 0.61% of Day One Biopharmaceuticals as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Quest Partners LLC bought a new stake in Day One Biopharmaceuticals in the 4th quarter valued at $29,000. Quintet Private Bank Europe S.A. lifted its position in shares of Day One Biopharmaceuticals by 43.2% in the fourth quarter. Quintet Private Bank Europe S.A. now owns 3,313 shares of the company’s stock worth $48,000 after buying an additional 1,000 shares in the last quarter. SG Americas Securities LLC bought a new position in Day One Biopharmaceuticals during the second quarter valued at approximately $113,000. Dynamic Technology Lab Private Ltd purchased a new position in Day One Biopharmaceuticals during the 4th quarter valued at approximately $156,000. Finally, Hsbc Holdings PLC purchased a new position in Day One Biopharmaceuticals during the 2nd quarter valued at approximately $163,000. Institutional investors own 87.95% of the company’s stock.

Day One Biopharmaceuticals Price Performance

Day One Biopharmaceuticals stock opened at $14.78 on Monday. The stock has a market capitalization of $1.29 billion, a PE ratio of -5.89 and a beta of -1.51. The business has a 50 day simple moving average of $14.26 and a 200-day simple moving average of $14.52. Day One Biopharmaceuticals, Inc. has a 12 month low of $9.67 and a 12 month high of $18.07.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings data on Tuesday, July 30th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.75) by $0.70. The firm had revenue of $8.19 million for the quarter, compared to analysts’ expectations of $0.90 million. On average, equities research analysts anticipate that Day One Biopharmaceuticals, Inc. will post -1.68 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Needham & Company LLC reiterated a “buy” rating and set a $33.00 target price on shares of Day One Biopharmaceuticals in a research report on Tuesday, July 30th. Wedbush reiterated an “outperform” rating and set a $33.00 price objective on shares of Day One Biopharmaceuticals in a research report on Thursday, July 25th. JPMorgan Chase & Co. reduced their target price on shares of Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating on the stock in a report on Tuesday, August 6th. Bank of America upgraded shares of Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and upped their target price for the company from $11.00 to $24.00 in a research report on Thursday, August 1st. Finally, HC Wainwright reiterated a “buy” rating and issued a $40.00 price target on shares of Day One Biopharmaceuticals in a research report on Thursday, August 1st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $35.71.

Insider Activity at Day One Biopharmaceuticals

In other news, insider Samuel C. Blackman sold 2,232 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $14.00, for a total transaction of $31,248.00. Following the transaction, the insider now directly owns 1,127,535 shares in the company, valued at approximately $15,785,490. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Samuel C. Blackman sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $16.01, for a total value of $320,200.00. Following the transaction, the insider now directly owns 1,121,081 shares in the company, valued at $17,948,506.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Samuel C. Blackman sold 2,232 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $14.00, for a total value of $31,248.00. Following the sale, the insider now directly owns 1,127,535 shares of the company’s stock, valued at approximately $15,785,490. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,748 shares of company stock valued at $1,009,272. Corporate insiders own 8.40% of the company’s stock.

Day One Biopharmaceuticals Company 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.