Stock Traders Purchase High Volume of Call Options on Day One Biopharmaceuticals (NASDAQ:DAWN)

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) saw unusually large options trading activity on Tuesday. Stock investors purchased 21,192 call options on the company. This represents an increase of 755% compared to the typical daily volume of 2,478 call options.

Day One Biopharmaceuticals Stock Performance

Day One Biopharmaceuticals stock opened at $12.11 on Wednesday. The company has a market capitalization of $1.24 billion, a P/E ratio of -7.97 and a beta of -1.27. Day One Biopharmaceuticals has a fifty-two week low of $5.64 and a fifty-two week high of $13.53. The stock has a 50-day simple moving average of $9.19 and a 200-day simple moving average of $7.88.

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

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Zacks Research raised Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a report on Monday, December 29th. JPMorgan Chase & Co. raised their target price on Day One Biopharmaceuticals from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. HC Wainwright restated a “buy” rating and set a $25.00 target price on shares of Day One Biopharmaceuticals in a research note on Monday, November 24th. Finally, TD Cowen began coverage on Day One Biopharmaceuticals in a report on Tuesday, January 13th. They issued a “buy” rating and a $34.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Day One Biopharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $25.71.

Insider Buying and Selling at Day One Biopharmaceuticals

In other news, insider Adam Dubow sold 4,319 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $8.91, for a total value of $38,482.29. Following the sale, the insider directly owned 62,626 shares in the company, valued at approximately $557,997.66. This trade represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeremy Bender sold 15,894 shares of Day One Biopharmaceuticals stock in a transaction on Monday, November 17th. The shares were sold at an average price of $8.91, for a total value of $141,615.54. Following the completion of the transaction, the chief executive officer owned 177,165 shares of the company’s stock, valued at approximately $1,578,540.15. This trade represents a 8.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 28,001 shares of company stock worth $249,489 over the last ninety days. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the stock. Hennion & Walsh Asset Management Inc. grew its holdings in Day One Biopharmaceuticals by 229.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 313,455 shares of the company’s stock worth $2,921,000 after acquiring an additional 218,383 shares during the period. SG Americas Securities LLC boosted its position in shares of Day One Biopharmaceuticals by 1,228.9% during the 4th quarter. SG Americas Securities LLC now owns 350,092 shares of the company’s stock worth $3,263,000 after purchasing an additional 323,747 shares in the last quarter. Tudor Investment Corp ET AL grew its stake in shares of Day One Biopharmaceuticals by 36.2% during the 3rd quarter. Tudor Investment Corp ET AL now owns 49,550 shares of the company’s stock worth $349,000 after purchasing an additional 13,157 shares during the period. Hudson Bay Capital Management LP grew its stake in shares of Day One Biopharmaceuticals by 1.8% during the 3rd quarter. Hudson Bay Capital Management LP now owns 1,320,000 shares of the company’s stock worth $9,306,000 after purchasing an additional 23,300 shares during the period. Finally, PharVision Advisers LLC purchased a new position in shares of Day One Biopharmaceuticals in the 3rd quarter valued at about $299,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

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.