Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Short Interest Update

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) saw a large drop in short interest in March. As of March 13th, there was short interest totaling 8,091,418 shares, a drop of 20.3% from the February 26th total of 10,152,747 shares. Approximately 8.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 12,856,933 shares, the short-interest ratio is presently 0.6 days.

Insider Activity at Day One Biopharmaceuticals

In related news, insider Lauren Merendino sold 5,814 shares of the business’s 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 completion of the sale, the insider owned 60,157 shares in the company, valued at $697,821.20. The trade was a 8.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Adam Dubow sold 6,395 shares of the company’s 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 $74,182.00. Following the completion of the sale, the insider directly owned 72,694 shares of the company’s stock, valued at approximately $843,250.40. This represents a 8.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 36,461 shares of company stock worth $422,948 in the last quarter. 6.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Day One Biopharmaceuticals by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 6,282,376 shares of the company’s stock worth $58,552,000 after buying an additional 101,047 shares during the period. Vestal Point Capital LP increased its stake in shares of Day One Biopharmaceuticals by 94.4% during the fourth quarter. Vestal Point Capital LP now owns 5,200,000 shares of the company’s stock valued at $48,464,000 after buying an additional 2,525,000 shares during the period. Deerfield Management Company L.P. raised its holdings in shares of 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 valued at $33,173,000 after acquiring an additional 982,282 shares in the last quarter. State Street Corp raised its holdings in shares of Day One Biopharmaceuticals by 32.4% during the fourth quarter. State Street Corp now owns 4,289,566 shares of the company’s stock valued at $39,979,000 after acquiring an additional 1,049,122 shares in the last quarter. Finally, Rubric Capital Management LP purchased a new stake in Day One Biopharmaceuticals in the third quarter worth $23,808,000. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Wall Street Analysts Forecast Growth

DAWN has been the topic of several recent research reports. HC Wainwright reaffirmed a “neutral” rating and set a $21.50 target price (down from $22.00) on shares of Day One Biopharmaceuticals in a report on Tuesday, March 10th. TD Cowen downgraded shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. Wedbush restated a “neutral” rating and set a $21.50 price target (down from $30.00) on shares of Day One Biopharmaceuticals in a research report on Monday, March 9th. Needham & Company LLC cut Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.29.

Day One Biopharmaceuticals Stock Performance

Shares of NASDAQ DAWN traded down $0.02 during mid-day trading on Wednesday, hitting $21.43. The stock had a trading volume of 427,298 shares, compared to its average volume of 4,366,825. The business has a 50 day moving average price of $15.03 and a two-hundred day moving average price of $10.75. Day One Biopharmaceuticals has a 1 year low of $5.64 and a 1 year high of $21.46. The firm has a market cap of $2.21 billion, a P/E ratio of -20.80 and a beta of -1.25.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings results on Tuesday, February 24th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). The firm had revenue of $53.72 million during the quarter, compared to the consensus estimate of $49.81 million. Day One Biopharmaceuticals had a negative return on equity of 23.43% and a negative net margin of 67.85%. 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.