Day One Biopharmaceuticals Target of Unusually High Options Trading (NASDAQ:DAWN)

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) saw some unusual options trading on Tuesday. Stock traders purchased 21,192 call options on the stock. This is an increase of approximately 755% compared to the typical volume of 2,478 call options.

Insider Buying and Selling at Day One Biopharmaceuticals

In other news, insider Lauren Merendino sold 3,726 shares of the firm’s stock in a transaction on Monday, November 17th. The shares were sold at an average price of $8.91, for a total transaction of $33,198.66. Following the completion of the transaction, the insider owned 50,809 shares of the company’s stock, valued at approximately $452,708.19. This trade represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Charles N. York II sold 4,062 shares of Day One Biopharmaceuticals stock in a transaction on Monday, November 17th. The stock was sold at an average price of $8.91, for a total transaction of $36,192.42. Following the transaction, the chief financial officer owned 294,715 shares in the company, valued at approximately $2,625,910.65. This trade represents a 1.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 28,001 shares of company stock worth $249,489 in the last 90 days. Corporate insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Deerfield Management Company L.P. grew its position in Day One Biopharmaceuticals by 26.4% during the third quarter. Deerfield Management Company L.P. now owns 4,705,413 shares of the company’s stock worth $33,173,000 after buying an additional 982,282 shares in the last quarter. Franklin Resources Inc. raised its stake in Day One Biopharmaceuticals by 2.0% in the second quarter. Franklin Resources Inc. now owns 4,097,625 shares of the company’s stock valued at $26,635,000 after purchasing an additional 79,255 shares in the last quarter. Rubric Capital Management LP bought a new stake in Day One Biopharmaceuticals during the third quarter worth about $23,808,000. Vestal Point Capital LP lifted its stake in Day One Biopharmaceuticals by 15.5% during the second quarter. Vestal Point Capital LP now owns 3,000,000 shares of the company’s stock worth $19,500,000 after purchasing an additional 401,873 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Day One Biopharmaceuticals by 11.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,712,429 shares of the company’s stock valued at $11,132,000 after purchasing an additional 171,964 shares during the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Day One Biopharmaceuticals Price Performance

Shares of Day One Biopharmaceuticals stock traded up $1.37 during trading on Tuesday, reaching $11.53. 3,187,921 shares of the company traded hands, compared to its average volume of 2,862,787. The firm has a market capitalization of $1.18 billion, a PE ratio of -7.59 and a beta of -1.27. Day One Biopharmaceuticals has a 1-year low of $5.64 and a 1-year high of $13.53. The company has a 50 day moving average price of $9.16 and a 200-day moving average price of $7.85.

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

Analyst Upgrades and Downgrades

DAWN has been the subject of several analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research report on Monday, December 29th. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of Day One Biopharmaceuticals in a research report on Monday, November 24th. Needham & Company LLC reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Day One Biopharmaceuticals in a research note on Monday, November 24th. TD Cowen initiated coverage on shares of Day One Biopharmaceuticals in a research report on Tuesday, January 13th. They set a “buy” rating and a $34.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on shares of Day One Biopharmaceuticals from $26.00 to $27.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $25.71.

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.