Day One Biopharmaceuticals Sees Unusually High Options Volume (NASDAQ:DAWN)

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) was the target of some unusual options trading activity on Wednesday. Investors purchased 5,027 call options on the company. This is an increase of 273% compared to the average daily volume of 1,348 call options.

Day One Biopharmaceuticals Price Performance

Day One Biopharmaceuticals stock opened at $8.76 on Thursday. The firm has a market capitalization of $899.48 million, a P/E ratio of -5.76 and a beta of -1.27. Day One Biopharmaceuticals has a 1-year low of $5.64 and a 1-year high of $13.53. The company’s 50-day moving average is $8.28 and its 200 day moving average is $7.37.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its earnings results on Tuesday, November 4th. The company reported ($0.19) EPS for the quarter, beating 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 firm had revenue of $39.80 million for the quarter, compared to analysts’ expectations of $38.20 million. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The company’s quarterly revenue was down 57.6% on a year-over-year basis. Research analysts anticipate that Day One Biopharmaceuticals will post -0.72 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research report on Monday. Needham & Company LLC restated a “buy” rating and set a $16.00 target price on shares of Day One Biopharmaceuticals in a research report on Monday, November 24th. JPMorgan Chase & Co. increased their price target on shares of Day One Biopharmaceuticals from $26.00 to $27.00 and gave the company an “overweight” rating in a report on Friday, November 7th. Zacks Research raised Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. Finally, Piper Sandler upped their price objective on Day One Biopharmaceuticals from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $24.43.

Insider Activity at Day One Biopharmaceuticals

In other news, insider Adam Dubow sold 4,319 shares of the business’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $8.91, for a total value of $38,482.29. Following the transaction, the insider owned 62,626 shares of the company’s stock, valued at approximately $557,997.66. The trade was a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lauren Merendino sold 3,726 shares of the company’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 owned 50,809 shares of the company’s stock, valued at approximately $452,708.19. This represents a 6.83% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 28,001 shares of company stock worth $249,489. 6.20% of the stock is currently owned by corporate insiders.

Institutional Trading of Day One Biopharmaceuticals

A number of large investors have recently made changes to their positions in DAWN. Vanguard Group Inc. increased its stake in Day One Biopharmaceuticals by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 5,943,243 shares of the company’s stock worth $47,130,000 after buying an additional 94,320 shares during the period. Invesco Ltd. boosted its position in Day One Biopharmaceuticals by 41.6% in the 1st quarter. Invesco Ltd. now owns 46,424 shares of the company’s stock valued at $368,000 after buying an additional 13,636 shares during the period. Nuveen LLC bought a new position in Day One Biopharmaceuticals in the 1st quarter worth about $1,107,000. Russell Investments Group Ltd. grew its stake in Day One Biopharmaceuticals by 326,700.0% in the 1st quarter. Russell Investments Group Ltd. now owns 16,340 shares of the company’s stock worth $130,000 after acquiring an additional 16,335 shares in the last quarter. Finally, American Century Companies Inc. purchased a new position in shares of Day One Biopharmaceuticals during the first quarter worth approximately $114,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

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.