Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Short Interest Update

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) was the target of a large increase in short interest during the month of August. As of August 15th, there was short interest totalling 13,570,000 shares, an increase of 11.1% from the July 31st total of 12,210,000 shares. Currently, 22.9% of the company’s shares are short sold. Based on an average daily volume of 1,000,000 shares, the short-interest ratio is presently 13.6 days.

Day One Biopharmaceuticals Trading Up 1.2 %

DAWN opened at $13.84 on Friday. Day One Biopharmaceuticals has a 1-year low of $9.67 and a 1-year high of $18.07. The company has a market cap of $1.21 billion, a price-to-earnings ratio of -5.51 and a beta of -1.51. The company’s fifty day moving average price is $14.26 and its two-hundred day moving average price is $14.71.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings results on Tuesday, July 30th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.70. The business had revenue of $8.19 million during the quarter, compared to the consensus estimate of $0.90 million. As a group, equities analysts forecast that Day One Biopharmaceuticals will post -2.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Day One Biopharmaceuticals news, Director Saira Ramasastry sold 10,000 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $13.19, for a total value of $131,900.00. Following the sale, the director now owns 40,485 shares in the company, valued at approximately $533,997.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Samuel C. Blackman sold 20,000 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $16.01, for a total transaction of $320,200.00. Following the completion of the transaction, the insider now owns 1,121,081 shares of the company’s stock, valued at $17,948,506.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Saira Ramasastry sold 10,000 shares of the business’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $13.19, for a total transaction of $131,900.00. Following the completion of the transaction, the director now owns 40,485 shares in the company, valued at approximately $533,997.15. The disclosure for this sale can be found here. Insiders sold a total of 48,748 shares of company stock valued at $714,572 in the last three months. Insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Point72 Asset Management L.P. purchased a new stake in Day One Biopharmaceuticals in the 2nd quarter valued at $6,480,000. Deerfield Management Company L.P. Series C raised its holdings in shares of Day One Biopharmaceuticals by 65.6% in the second quarter. Deerfield Management Company L.P. Series C now owns 2,923,137 shares of the company’s stock valued at $40,281,000 after purchasing an additional 1,157,825 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Day One Biopharmaceuticals by 517.0% during the second quarter. AQR Capital Management LLC now owns 113,020 shares of the company’s stock valued at $1,557,000 after purchasing an additional 94,703 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Day One Biopharmaceuticals during the second quarter worth about $2,570,000. Finally, Point72 DIFC Ltd bought a new stake in Day One Biopharmaceuticals in the 2nd quarter worth about $124,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on DAWN shares. JPMorgan Chase & Co. dropped 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. Piper Sandler reissued an “overweight” rating and issued a $40.00 price target on shares of Day One Biopharmaceuticals in a research note on Monday, July 8th. Bank of America raised shares of Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and raised their price objective for the stock from $11.00 to $24.00 in a research report on Thursday, August 1st. HC Wainwright reiterated a “buy” rating and set a $40.00 target price on shares of Day One Biopharmaceuticals in a research report on Thursday, August 1st. Finally, Wedbush restated an “outperform” rating and issued a $33.00 price target on shares of Day One Biopharmaceuticals in a report on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Day One Biopharmaceuticals has an average rating of “Moderate Buy” and a consensus target price of $35.71.

Day One Biopharmaceuticals Company Profile

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.