Investing

Canaan XI L.P. cuts stake in Day One Biopharmaceuticals (DAWN)

Canaan XI L.P. has filed a 13D/A form with the SEC disclosing ownership of 2,548,403 shares of Day One Biopharmaceuticals, Inc. (DAWN). This represents 3.5% of the company.

In their previous filing dated October 19, 2022 they reported 4,748,403 shares and 6.50% of the company, a decrease in shares of 46.33% and a decrease in total ownership of 3.00% (calculated as current – previous percent ownership).

They have filed six 13D/G filings since June 10, 2021.

What are other large shareholders doing?

Atlas Venture Life Science Advisors, LLC holds 8,968,305 shares representing 12.21% ownership of the company. In it’s prior filing, the firm reported owning 8,201,638 shares, representing an increase of 8.55%. The firm increased its portfolio allocation in DAWN by 160.92% over the last quarter.

Ra Capital Management, L.p. holds 7,040,622 shares representing 9.58% ownership of the company. In it’s prior filing, the firm reported owning 6,060,090 shares, representing an increase of 13.93%. The firm increased its portfolio allocation in DAWN by 156.18% over the last quarter.

Canaan Partners XI LLC holds 6,964,301 shares representing 9.48% ownership of the company. In it’s prior filing, the firm reported owning 9,663,645 shares, representing a decrease of 38.76%. The firm decreased its portfolio allocation in DAWN by 8.67% over the last quarter.

Fmr Llc holds 6,826,574 shares representing 9.29% ownership of the company. In it’s prior filing, the firm reported owning 2,594,519 shares, representing an increase of 61.99%. The firm increased its portfolio allocation in DAWN by 492.14% over the last quarter.

Deerfield Management Company, L.p. (series C) holds 3,512,123 shares representing 4.78% ownership of the company. In it’s prior filing, the firm reported owning 2,086,449 shares, representing an increase of 40.59%. The firm increased its portfolio allocation in DAWN by 180.21% over the last quarter.

What is the overall institutional sentiment?

There are 250 funds or institutions reporting positions in Day One Biopharmaceuticals, Inc.. This is an increase of 49 owner(s) or 24.38%.

Average portfolio weight of all funds dedicated to Day One Biopharmaceuticals, Inc. is 0.4256%, an increase of 46.5651%. Total shares owned by institutions increased in the last three months by 30.21% to 59,177,614 shares.

Based on this information, institutional sentiment is bullish.

This article originally appeared on Fintel

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