Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Sees Significant Decrease in Short Interest

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) was the target of a large decline in short interest in December. As of December 15th, there was short interest totalling 18,100,000 shares, a decline of 7.1% from the November 30th total of 19,490,000 shares. Approximately 24.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,090,000 shares, the short-interest ratio is presently 16.6 days.

Day One Biopharmaceuticals Trading Down 2.3 %

DAWN traded down $0.29 during midday trading on Monday, hitting $12.58. The company’s stock had a trading volume of 729,024 shares, compared to its average volume of 958,864. Day One Biopharmaceuticals has a 52-week low of $11.94 and a 52-week high of $18.07. The firm has a 50-day moving average price of $13.86 and a two-hundred day moving average price of $14.02. The firm has a market cap of $1.27 billion, a P/E ratio of -12.21 and a beta of -1.51.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.58. The company had revenue of $93.76 million during the quarter, compared to analysts’ expectations of $15.05 million. During the same quarter in the previous year, the firm posted ($0.54) earnings per share. On average, equities analysts expect that Day One Biopharmaceuticals will post -0.88 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on DAWN shares. Needham & Company LLC reissued a “buy” rating and issued a $33.00 price target on shares of Day One Biopharmaceuticals in a report on Thursday, October 31st. TD Cowen upgraded shares of Day One Biopharmaceuticals to a “strong-buy” rating in a report on Monday, November 4th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $40.00 price target on shares of Day One Biopharmaceuticals in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $35.71.

Insider Buying and Selling

In related news, insider Samuel C. Blackman sold 30,000 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $13.31, for a total transaction of $399,300.00. Following the completion of the transaction, the insider now directly owns 1,034,015 shares in the company, valued at $13,762,739.65. The trade was a 2.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 51,745 shares of company stock worth $748,567 in the last three months. Corporate insiders own 8.40% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in DAWN. Franklin Resources Inc. grew its holdings in shares of Day One Biopharmaceuticals by 2.3% during the 3rd quarter. Franklin Resources Inc. now owns 3,869,632 shares of the company’s stock worth $55,336,000 after purchasing an additional 87,262 shares during the period. Geode Capital Management LLC lifted its position in Day One Biopharmaceuticals by 10.5% during the third quarter. Geode Capital Management LLC now owns 1,432,697 shares of the company’s stock valued at $19,961,000 after buying an additional 136,458 shares in the last quarter. Frazier Life Sciences Management L.P. purchased a new stake in Day One Biopharmaceuticals during the third quarter worth approximately $9,607,000. XTX Topco Ltd acquired a new stake in shares of Day One Biopharmaceuticals in the third quarter worth $178,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Day One Biopharmaceuticals by 142.1% during the 3rd quarter. Wellington Management Group LLP now owns 721,581 shares of the company’s stock valued at $10,052,000 after acquiring an additional 423,543 shares in the last quarter. 87.95% of the stock is currently 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.