Short Interest in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Increases By 19.2%

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totaling 11,178,279 shares, a growth of 19.2% from the December 15th total of 9,374,807 shares. Approximately 11.6% of the company’s stock are short sold. Based on an average daily volume of 2,469,542 shares, the days-to-cover ratio is currently 4.5 days. Based on an average daily volume of 2,469,542 shares, the days-to-cover ratio is currently 4.5 days. Approximately 11.6% of the company’s stock are short sold.

Insider Buying and Selling

In related news, insider Adam Dubow sold 4,319 shares of the stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $8.91, for a total transaction of $38,482.29. Following the completion of the sale, the insider owned 62,626 shares of the company’s stock, valued at $557,997.66. This represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lauren Merendino sold 3,726 shares of the firm’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $8.91, for a total transaction of $33,198.66. Following the transaction, the insider directly owned 50,809 shares of the company’s stock, valued at approximately $452,708.19. This trade represents a 6.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 28,001 shares of company stock valued at $249,489. Company insiders own 6.20% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

Institutional investors and hedge funds have recently bought and sold shares of the business. ProShare Advisors LLC boosted its stake in shares of Day One Biopharmaceuticals by 12.9% in the second quarter. ProShare Advisors LLC now owns 18,545 shares of the company’s stock valued at $121,000 after purchasing an additional 2,121 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Day One Biopharmaceuticals by 6.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,992 shares of the company’s stock worth $302,000 after buying an additional 2,149 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in Day One Biopharmaceuticals by 44.5% in the second quarter. Ameritas Investment Partners Inc. now owns 7,349 shares of the company’s stock valued at $48,000 after purchasing an additional 2,264 shares during the period. Teacher Retirement System of Texas increased its position in Day One Biopharmaceuticals by 18.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 17,721 shares of the company’s stock valued at $115,000 after acquiring an additional 2,750 shares during the period. Finally, Pale Fire Capital SE lifted its stake in shares of Day One Biopharmaceuticals by 9.9% in the 2nd quarter. Pale Fire Capital SE now owns 34,843 shares of the company’s stock worth $226,000 after acquiring an additional 3,150 shares during the period. 87.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DAWN. TD Cowen began coverage on Day One Biopharmaceuticals in a research report on Tuesday, January 13th. They issued a “buy” rating and a $34.00 target price on the stock. HC Wainwright restated a “buy” rating and set a $25.00 price target on shares of Day One Biopharmaceuticals in a research report on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a report on Monday, December 29th. JPMorgan Chase & Co. upped their price objective on Day One Biopharmaceuticals from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Finally, Piper Sandler increased their price objective on Day One Biopharmaceuticals from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $25.71.

Day One Biopharmaceuticals Price Performance

Shares of NASDAQ:DAWN traded up $1.37 during mid-day trading on Tuesday, reaching $11.53. 3,187,921 shares of the company were exchanged, compared to its average volume of 2,862,787. Day One Biopharmaceuticals has a 1 year low of $5.64 and a 1 year high of $13.53. The firm’s 50-day simple moving average is $9.16 and its 200 day simple moving average is $7.85. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -7.59 and a beta of -1.27.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.09. Day One Biopharmaceuticals had a negative return on equity of 32.05% and a negative net margin of 113.53%.The company had revenue of $39.80 million for the quarter, compared to analysts’ expectations of $38.20 million. During the same period in the prior year, the firm earned $0.38 earnings per share. The firm’s revenue was down 57.6% compared to the same quarter last year. On average, research analysts forecast that Day One Biopharmaceuticals will post -0.72 earnings per share for the current fiscal year.

Day One Biopharmaceuticals Company Profile

Day One Biopharmaceuticals, Inc (NASDAQ: DAWN) is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted therapies for oncology. The company employs a precision medicine approach, leveraging biomarker-driven strategies to identify patient populations most likely to respond to its investigational compounds. By concentrating on well-validated molecular drivers of cancer, Day One seeks to deliver first-in-class or best-in-class therapies with the potential for meaningful clinical benefit.

The company’s pipeline includes several small-molecule candidates in various stages of development.