Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Short Interest Down 20.3% in March

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) saw a significant decline in short interest in March. As of March 13th, there was short interest totaling 8,091,418 shares, a decline of 20.3% from the February 26th total of 10,152,747 shares. Currently, 8.4% of the shares of the company are short sold. Based on an average daily volume of 12,856,933 shares, the short-interest ratio is presently 0.6 days.

Wall Street Analysts Forecast Growth

DAWN has been the topic of a number of recent analyst reports. JonesTrading cut shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating and raised their target price for the stock from $20.00 to $21.50 in a research note on Friday, March 6th. TD Cowen lowered shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a research report on Friday, March 6th. Oppenheimer reissued a “market perform” rating on shares of Day One Biopharmaceuticals in a research note on Friday, March 6th. Zacks Research downgraded shares of Day One Biopharmaceuticals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $21.50 target price (down from $27.00) on shares of Day One Biopharmaceuticals in a research note on Wednesday, March 11th. One equities research analyst has rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $23.29.

Insider Buying and Selling at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, CFO Charles N. York II sold 6,065 shares of the business’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total transaction of $70,354.00. Following the completion of the sale, the chief financial officer owned 312,025 shares of the company’s stock, valued at approximately $3,619,490. The trade was a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael Vasconcelles sold 2,728 shares of the company’s stock in a transaction dated Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total value of $31,644.80. Following the completion of the sale, the insider owned 4,397 shares of the company’s stock, valued at approximately $51,005.20. The trade was a 38.29% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 36,461 shares of company stock valued at $422,948 in the last ninety days. 6.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Institutional investors have recently bought and sold shares of the stock. AIGH Capital Management LLC bought a new position in shares of Day One Biopharmaceuticals during the 3rd quarter valued at about $10,719,000. AlphaQuest LLC increased its holdings in shares of Day One Biopharmaceuticals by 1,065.6% in the third quarter. AlphaQuest LLC now owns 185,006 shares of the company’s stock worth $1,304,000 after purchasing an additional 169,134 shares during the last quarter. Schroder Investment Management Group purchased a new stake in shares of Day One Biopharmaceuticals in the second quarter worth about $1,171,000. Mak Capital One LLC purchased a new stake in shares of Day One Biopharmaceuticals in the third quarter worth about $10,212,000. Finally, Geode Capital Management LLC boosted its stake in Day One Biopharmaceuticals by 11.2% during the second quarter. Geode Capital Management LLC now owns 1,712,429 shares of the company’s stock valued at $11,132,000 after buying an additional 171,964 shares during the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

Day One Biopharmaceuticals Stock Performance

Shares of DAWN opened at $21.41 on Monday. The business’s 50 day moving average is $14.62 and its 200 day moving average is $10.55. Day One Biopharmaceuticals has a 12-month low of $5.64 and a 12-month high of $21.46. The company has a market capitalization of $2.21 billion, a PE ratio of -20.79 and a beta of -1.25.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings results on Tuesday, February 24th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.04). The business had revenue of $53.72 million during the quarter, compared to the consensus estimate of $49.81 million. Day One Biopharmaceuticals had a negative return on equity of 23.43% and a negative net margin of 67.85%. Equities research analysts predict that Day One Biopharmaceuticals will post -0.72 earnings per share for the current year.

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.