Short Interest in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Drops By 6.6%

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 8,980,000 shares, a decline of 6.6% from the March 15th total of 9,610,000 shares. Currently, 15.2% of the shares of the company are short sold. Based on an average daily trading volume, of 619,200 shares, the short-interest ratio is presently 14.5 days.

Insider Buying and Selling

In related news, General Counsel Adam Dubow sold 3,242 shares of Day One Biopharmaceuticals stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.25, for a total transaction of $49,440.50. Following the completion of the sale, the general counsel now owns 16,585 shares of the company’s stock, valued at approximately $252,921.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, General Counsel Adam Dubow sold 3,242 shares of Day One Biopharmaceuticals stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.25, for a total transaction of $49,440.50. Following the completion of the sale, the general counsel now owns 16,585 shares of the company’s stock, valued at approximately $252,921.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Charles N. York II sold 2,666 shares of Day One Biopharmaceuticals stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.25, for a total transaction of $40,656.50. Following the sale, the chief financial officer now directly owns 277,754 shares of the company’s stock, valued at approximately $4,235,748.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 45,781 shares of company stock valued at $722,960. Company insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in DAWN. China Universal Asset Management Co. Ltd. raised its position in shares of Day One Biopharmaceuticals by 130.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,226 shares of the company’s stock valued at $27,000 after buying an additional 1,262 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Day One Biopharmaceuticals during the 4th quarter valued at approximately $29,000. Quintet Private Bank Europe S.A. grew its holdings in shares of Day One Biopharmaceuticals by 43.2% during the 4th quarter. Quintet Private Bank Europe S.A. now owns 3,313 shares of the company’s stock valued at $48,000 after purchasing an additional 1,000 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Day One Biopharmaceuticals by 87.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,066 shares of the company’s stock valued at $49,000 after purchasing an additional 1,895 shares during the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Day One Biopharmaceuticals during the 2nd quarter valued at approximately $51,000. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Day One Biopharmaceuticals Trading Up 5.5 %

Shares of NASDAQ:DAWN opened at $14.61 on Wednesday. The firm has a 50 day moving average of $15.24 and a 200-day moving average of $13.66. The stock has a market capitalization of $1.28 billion, a PE ratio of -6.14 and a beta of -1.48. Day One Biopharmaceuticals has a 12 month low of $9.67 and a 12 month high of $17.85.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its earnings results on Monday, February 26th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.07). On average, research analysts predict that Day One Biopharmaceuticals will post -2.66 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have weighed in on DAWN shares. Oppenheimer reiterated a “market perform” rating on shares of Day One Biopharmaceuticals in a research note on Tuesday, February 27th. The Goldman Sachs Group dropped their price objective on shares of Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Tuesday, February 27th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $40.00 price objective on shares of Day One Biopharmaceuticals in a research note on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Day One Biopharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $40.60.

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.