Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Sees Large Growth in Short Interest

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) saw a large growth in short interest in the month of 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 trading volume of 1,020,000 shares, the days-to-cover ratio is currently 17.7 days. Currently, 26.4% of the company’s shares are sold short.

Analyst Ratings Changes

Several brokerages have recently issued reports on DAWN. JPMorgan Chase & Co. reduced their price objective on Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $33.00 price target on shares of Day One Biopharmaceuticals in a research report on Thursday, October 31st. Bank of America raised Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $11.00 to $24.00 in a research report on Thursday, August 1st. Wedbush reaffirmed an “outperform” rating and issued a $33.00 target price on shares of Day One Biopharmaceuticals in a report on Thursday, July 25th. Finally, TD Cowen upgraded shares of Day One Biopharmaceuticals to a “strong-buy” rating in a research note on Monday, November 4th. One analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Day One Biopharmaceuticals presently has an average rating of “Buy” and a consensus price target of $35.71.

Day One Biopharmaceuticals Stock Down 0.5 %

Day One Biopharmaceuticals stock traded down $0.07 during mid-day trading on Monday, hitting $13.24. The company had a trading volume of 313,870 shares, compared to its average volume of 955,861. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -12.92 and a beta of -1.51. Day One Biopharmaceuticals has a 1 year low of $11.30 and a 1 year high of $18.07. The business has a fifty day moving average of $14.42 and a 200 day moving average of $14.35.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of ($0.20) by $0.58. The company 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) earnings per share. Equities analysts anticipate that Day One Biopharmaceuticals will post -0.88 earnings per share for the current year.

Insider Activity at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $14.22, for a total transaction of $426,600.00. Following the sale, the insider now directly owns 1,097,535 shares in the company, valued at $15,606,947.70. This represents a 2.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 51,745 shares of company stock worth $775,867 in the last three months. 8.40% of the stock is owned by company insiders.

Institutional Trading of Day One Biopharmaceuticals

A number of large investors have recently made changes to their positions in DAWN. Mirae Asset Global Investments Co. Ltd. increased its position in Day One Biopharmaceuticals by 38.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,611 shares of the company’s stock worth $51,000 after buying an additional 1,002 shares during the period. Quest Partners LLC grew its position in shares of Day One Biopharmaceuticals by 9,238.6% during the third quarter. Quest Partners LLC now owns 7,751 shares of the company’s stock worth $108,000 after acquiring an additional 7,668 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Day One Biopharmaceuticals in the 2nd quarter valued at $113,000. Point72 DIFC Ltd acquired a new stake in Day One Biopharmaceuticals during the 2nd quarter worth $124,000. Finally, Hsbc Holdings PLC purchased a new position in Day One Biopharmaceuticals during the 2nd quarter worth $163,000. 87.95% of the stock is owned by institutional investors and hedge funds.

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.