Short Interest in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Rises By 12.8%

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) saw a significant growth in short interest in October. As of October 31st, there was short interest totalling 18,020,000 shares, a growth of 12.8% from the October 15th total of 15,980,000 shares. Based on an average daily volume of 1,020,000 shares, the days-to-cover ratio is currently 17.7 days. Approximately 26.4% of the shares of the stock are short sold.

Insiders Place Their Bets

In related news, insider Samuel C. Blackman sold 30,000 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $14.22, for a total value of $426,600.00. Following the sale, the insider now owns 1,097,535 shares of the company’s stock, valued at approximately $15,606,947.70. This trade represents a 2.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 51,745 shares of company stock worth $775,867. 8.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Day One Biopharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in Day One Biopharmaceuticals by 38.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,611 shares of the company’s stock valued at $51,000 after buying an additional 1,002 shares during the period. Quest Partners LLC raised its stake in shares of Day One Biopharmaceuticals by 9,238.6% in the 3rd quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock valued at $108,000 after acquiring an additional 7,668 shares during the period. SG Americas Securities LLC acquired a new position in shares of Day One Biopharmaceuticals in the 2nd quarter worth approximately $113,000. Point72 DIFC Ltd purchased a new position in shares of Day One Biopharmaceuticals during the 2nd quarter worth approximately $124,000. Finally, Hsbc Holdings PLC acquired a new stake in Day One Biopharmaceuticals in the 2nd quarter valued at approximately $163,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Day One Biopharmaceuticals Trading Down 0.5 %

Day One Biopharmaceuticals stock traded down $0.07 during midday trading on Monday, hitting $13.24. 313,870 shares of the stock were exchanged, compared to its average volume of 955,861. The stock’s 50-day simple moving average is $14.42 and its 200 day simple moving average is $14.35. Day One Biopharmaceuticals has a fifty-two week low of $11.30 and a fifty-two week high of $18.07. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of -12.92 and a beta of -1.51.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.58. The firm had revenue of $93.76 million for the quarter, compared to analyst estimates of $15.05 million. During the same quarter in the prior year, the business earned ($0.54) EPS. Equities analysts anticipate that Day One Biopharmaceuticals will post -0.88 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. TD Cowen raised shares of Day One Biopharmaceuticals to a “strong-buy” rating in a research note on Monday, November 4th. Wedbush reissued an “outperform” rating and issued a $33.00 price objective on shares of Day One Biopharmaceuticals in a research note on Thursday, July 25th. HC Wainwright reaffirmed a “buy” rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. Bank of America upgraded shares of Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and increased their target price for the company from $11.00 to $24.00 in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. lowered their price target on shares of Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $35.71.

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.