Short Interest in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Expands By 12.8%

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 18,020,000 shares, a growth of 12.8% from the October 15th total of 15,980,000 shares. Based on an average daily volume of 1,020,000 shares, the short-interest ratio is currently 17.7 days. Currently, 26.4% of the shares of the stock are short sold.

Day One Biopharmaceuticals Stock Down 1.7 %

Day One Biopharmaceuticals stock traded down $0.23 during midday trading on Monday, reaching $13.08. The stock had a trading volume of 414,410 shares, compared to its average volume of 956,312. Day One Biopharmaceuticals has a 52-week low of $11.30 and a 52-week high of $18.07. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of -12.85 and a beta of -1.51. The company has a fifty day moving average of $14.42 and a 200 day moving average of $14.35.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.58. The firm had revenue of $93.76 million during the quarter, compared to analysts’ expectations of $15.05 million. During the same period last year, the company earned ($0.54) earnings per share. Equities research analysts predict that Day One Biopharmaceuticals will post -0.88 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on DAWN. Bank of America upgraded shares of Day One Biopharmaceuticals from an “underperform” rating to a “buy” rating and upped their target price for the company from $11.00 to $24.00 in a research report on Thursday, August 1st. JPMorgan Chase & Co. decreased their target price on shares of Day One Biopharmaceuticals from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Wedbush restated an “outperform” rating and set a $33.00 target price on shares of Day One Biopharmaceuticals in a research report on Thursday, July 25th. TD Cowen upgraded shares of Day One Biopharmaceuticals to a “strong-buy” rating in a research report on Monday, November 4th. Finally, Needham & Company LLC restated a “buy” rating and set a $33.00 target price on shares of Day One Biopharmaceuticals in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $35.71.

Insider Buying and Selling at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 11,245 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $16.03, for a total transaction of $180,257.35. Following the completion of the transaction, the insider now owns 1,085,790 shares of the company’s stock, valued at $17,405,213.70. This represents a 1.03 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 51,745 shares of company stock valued at $775,867 in the last 90 days. Insiders own 8.40% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Institutional investors have recently modified their holdings of the stock. GSA Capital Partners LLP purchased a new position in shares of Day One Biopharmaceuticals during the third quarter worth approximately $825,000. Janus Henderson Group PLC increased its position in shares of Day One Biopharmaceuticals by 19.8% during the first quarter. Janus Henderson Group PLC now owns 2,032,384 shares of the company’s stock worth $33,575,000 after acquiring an additional 336,281 shares during the period. TimesSquare Capital Management LLC increased its position in shares of Day One Biopharmaceuticals by 8.2% during the third quarter. TimesSquare Capital Management LLC now owns 1,827,695 shares of the company’s stock worth $25,460,000 after acquiring an additional 139,160 shares during the period. AQR Capital Management LLC increased its position in shares of Day One Biopharmaceuticals by 517.0% during the second quarter. AQR Capital Management LLC now owns 113,020 shares of the company’s stock worth $1,557,000 after acquiring an additional 94,703 shares during the period. Finally, ProShare Advisors LLC boosted its stake in shares of Day One Biopharmaceuticals by 9.1% during the first quarter. ProShare Advisors LLC now owns 17,379 shares of the company’s stock valued at $287,000 after purchasing an additional 1,447 shares in the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

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.