Traders Buy Large Volume of Call Options on Day One Biopharmaceuticals (NASDAQ:DAWN)

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) was the target of some unusual options trading on Friday. Investors bought 20,759 call options on the company. This is an increase of approximately 519% compared to the average daily volume of 3,354 call options.

Insiders Place Their Bets

In other news, insider Lauren Merendino sold 5,814 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total value of $67,442.40. Following the sale, the insider directly owned 60,157 shares of the company’s stock, valued at $697,821.20. The trade was a 8.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Vasconcelles sold 2,728 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $11.60, for a total value of $31,644.80. Following the completion of the transaction, the insider owned 4,397 shares in the company, valued at $51,005.20. The trade was a 38.29% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 36,461 shares of company stock valued at $422,948. 6.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Large investors have recently made changes to their positions in the company. Federated Hermes Inc. acquired a new position in Day One Biopharmaceuticals in the 3rd quarter worth approximately $39,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Day One Biopharmaceuticals by 26.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,989 shares of the company’s stock valued at $46,000 after purchasing an additional 1,029 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Day One Biopharmaceuticals by 44.5% in the second quarter. Ameritas Investment Partners Inc. now owns 7,349 shares of the company’s stock valued at $48,000 after purchasing an additional 2,264 shares in the last quarter. Quarry LP acquired a new stake in shares of Day One Biopharmaceuticals in the third quarter worth $49,000. Finally, Entropy Technologies LP purchased a new position in shares of Day One Biopharmaceuticals during the second quarter valued at $67,000. Institutional investors and hedge funds own 87.95% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on DAWN shares. JPMorgan Chase & Co. boosted their price target on Day One Biopharmaceuticals from $26.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, November 7th. Wedbush boosted their target price on shares of Day One Biopharmaceuticals from $29.00 to $30.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 25th. TD Cowen initiated coverage on shares of Day One Biopharmaceuticals in a report on Tuesday, January 13th. They issued a “buy” rating and a $34.00 price target for the company. Zacks Research downgraded shares of Day One Biopharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 25th. Finally, HC Wainwright decreased their price target on Day One Biopharmaceuticals from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.14.

Day One Biopharmaceuticals Stock Up 65.9%

Shares of DAWN traded up $8.42 during mid-day trading on Friday, reaching $21.20. 66,829,348 shares of the company’s stock were exchanged, compared to its average volume of 4,102,873. Day One Biopharmaceuticals has a 52-week low of $5.64 and a 52-week high of $21.20. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -20.58 and a beta of -1.25. The company has a 50-day simple moving average of $10.87 and a two-hundred day simple moving average of $8.95.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its 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). Day One Biopharmaceuticals had a negative return on equity of 23.43% and a negative net margin of 67.85%.The company had revenue of $53.72 million during the quarter, compared to the consensus estimate of $49.81 million. As a group, equities research analysts predict that Day One Biopharmaceuticals will post -0.72 EPS for the current fiscal 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.