Man Group plc Invests $162,000 in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN)

Man Group plc bought a new stake in shares of Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,799 shares of the company’s stock, valued at approximately $162,000.

Several other large investors also recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in Day One Biopharmaceuticals during the fourth quarter valued at approximately $866,000. MetLife Investment Management LLC increased its position in Day One Biopharmaceuticals by 12.4% in the fourth quarter. MetLife Investment Management LLC now owns 34,248 shares of the company’s stock worth $434,000 after purchasing an additional 3,781 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Day One Biopharmaceuticals by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 535,501 shares of the company’s stock valued at $6,785,000 after acquiring an additional 28,053 shares during the last quarter. Bank of New York Mellon Corp increased its position in Day One Biopharmaceuticals by 43.4% during the fourth quarter. Bank of New York Mellon Corp now owns 244,829 shares of the company’s stock valued at $3,102,000 after acquiring an additional 74,091 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in Day One Biopharmaceuticals by 1.3% during the fourth quarter. Wellington Management Group LLP now owns 731,303 shares of the company’s stock valued at $9,266,000 after acquiring an additional 9,722 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Wedbush restated an “outperform” rating and issued a $25.00 price target on shares of Day One Biopharmaceuticals in a report on Wednesday, May 7th. JPMorgan Chase & Co. decreased their price target on shares of Day One Biopharmaceuticals from $39.00 to $34.00 and set an “overweight” rating for the company in a research report on Wednesday, March 5th. Needham & Company LLC decreased their price target on shares of Day One Biopharmaceuticals from $30.00 to $27.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. The Goldman Sachs Group decreased their price objective on shares of Day One Biopharmaceuticals from $39.00 to $27.00 and set a “buy” rating for the company in a research report on Tuesday, March 25th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Day One Biopharmaceuticals in a research report on Thursday, April 3rd. Seven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $30.57.

Day One Biopharmaceuticals Price Performance

Shares of DAWN stock opened at $6.31 on Thursday. The firm’s 50-day moving average is $7.11 and its two-hundred day moving average is $10.33. Day One Biopharmaceuticals, Inc. has a 12 month low of $6.08 and a 12 month high of $16.76. The company has a market capitalization of $639.59 million, a PE ratio of -6.13 and a beta of -1.24.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its earnings results on Tuesday, May 6th. The company reported ($0.35) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.11. The firm had revenue of $30.76 million for the quarter, compared to analysts’ expectations of $30.28 million. Sell-side analysts forecast that Day One Biopharmaceuticals, Inc. will post -0.72 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jeremy Bender sold 13,964 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.26, for a total value of $87,414.64. Following the completion of the transaction, the chief executive officer now owns 145,737 shares in the company, valued at approximately $912,313.62. This represents a 8.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, General Counsel Adam Dubow sold 4,552 shares of the company’s stock in a transaction on Friday, May 16th. The shares were sold at an average price of $6.26, for a total transaction of $28,495.52. Following the completion of the transaction, the general counsel now owns 47,136 shares of the company’s stock, valued at approximately $295,071.36. The trade was a 8.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,725 shares of company stock valued at $167,299 in the last ninety days. Company insiders own 6.20% of the company’s stock.

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.