Short Interest in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Rises By 10.3%

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totalling 11,520,000 shares, a growth of 10.3% from the June 30th total of 10,440,000 shares. Currently, 19.0% of the shares of the stock are short sold. Based on an average daily volume of 1,170,000 shares, the short-interest ratio is presently 9.8 days.

Day One Biopharmaceuticals Trading Down 5.8 %

Shares of NASDAQ DAWN opened at $14.31 on Thursday. The stock has a market cap of $1.25 billion, a P/E ratio of -5.70 and a beta of -1.51. Day One Biopharmaceuticals has a 12-month low of $9.67 and a 12-month high of $18.07. The business’s fifty day simple moving average is $14.00 and its 200-day simple moving average is $14.84.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings data on Tuesday, July 30th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.75) by $0.70. The company had revenue of $8.19 million during the quarter, compared to analyst estimates of $0.90 million. On average, equities analysts forecast that Day One Biopharmaceuticals will post -2.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DAWN has been the subject of several analyst reports. Wedbush reiterated an “outperform” rating and issued a $33.00 price objective on shares of Day One Biopharmaceuticals in a research report on Thursday, July 25th. Piper Sandler restated an “overweight” rating and set a $40.00 price target on shares of Day One Biopharmaceuticals in a research note on Monday, July 8th. JPMorgan Chase & Co. upped their price target on Day One Biopharmaceuticals from $32.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, April 22nd. Needham & Company LLC restated a “buy” rating and set a $33.00 price target on shares of Day One Biopharmaceuticals in a research note on Tuesday. Finally, Bank of America upgraded Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and upped their price target for the stock from $11.00 to $24.00 in a research note on Thursday. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.71.

Insider Activity

In other news, insider Samuel C. Blackman sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $16.37, for a total value of $163,700.00. Following the completion of the sale, the insider now directly owns 1,164,662 shares in the company, valued at $19,065,516.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Samuel C. Blackman sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $16.37, for a total value of $163,700.00. Following the completion of the sale, the insider now directly owns 1,164,662 shares in the company, valued at $19,065,516.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Samuel C. Blackman sold 2,267 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $16.08, for a total value of $36,453.36. Following the completion of the sale, the insider now owns 1,171,081 shares of the company’s stock, valued at $18,830,982.48. The disclosure for this sale can be found here. Insiders sold 73,300 shares of company stock worth $1,181,765 over the last ninety days. Corporate insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Large investors have recently bought and sold shares of the business. Quest Partners LLC purchased a new position in Day One Biopharmaceuticals in the fourth quarter valued at $29,000. Quintet Private Bank Europe S.A. grew its holdings in shares of Day One Biopharmaceuticals by 43.2% during the fourth quarter. Quintet Private Bank Europe S.A. now owns 3,313 shares of the company’s stock worth $48,000 after purchasing an additional 1,000 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Day One Biopharmaceuticals during the second quarter worth about $113,000. China Universal Asset Management Co. Ltd. grew its holdings in shares of Day One Biopharmaceuticals by 352.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 10,067 shares of the company’s stock worth $147,000 after buying an additional 7,841 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Day One Biopharmaceuticals during the fourth quarter worth about $156,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

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.