Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Short Interest Up 19.2% in December

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) was the recipient of a significant increase in short interest in December. As of December 31st, there was short interest totaling 11,178,279 shares, an increase of 19.2% from the December 15th total of 9,374,807 shares. Currently, 11.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,469,542 shares, the short-interest ratio is currently 4.5 days. Based on an average daily trading volume, of 2,469,542 shares, the short-interest ratio is currently 4.5 days. Currently, 11.6% of the shares of the stock are sold short.

Insider Activity at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, insider Lauren Merendino sold 3,726 shares of the company’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $8.91, for a total value of $33,198.66. Following the sale, the insider owned 50,809 shares of the company’s stock, valued at approximately $452,708.19. This represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam Dubow sold 4,319 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $8.91, for a total transaction of $38,482.29. Following the transaction, the insider owned 62,626 shares of the company’s stock, valued at $557,997.66. This trade represents a 6.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 28,001 shares of company stock valued at $249,489. 6.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Day One Biopharmaceuticals

A number of institutional investors have recently modified their holdings of the business. Federated Hermes Inc. acquired a new position in Day One Biopharmaceuticals during the 3rd quarter worth $39,000. Quarry LP bought a new stake in shares of Day One Biopharmaceuticals during the third quarter valued at about $49,000. Ameritas Investment Partners Inc. lifted its holdings in Day One Biopharmaceuticals by 44.5% in the second quarter. Ameritas Investment Partners Inc. now owns 7,349 shares of the company’s stock worth $48,000 after purchasing an additional 2,264 shares during the period. Entropy Technologies LP acquired a new stake in Day One Biopharmaceuticals in the second quarter worth about $67,000. Finally, Prudential Financial Inc. bought a new position in Day One Biopharmaceuticals in the 2nd quarter valued at about $69,000. Institutional investors own 87.95% of the company’s stock.

Day One Biopharmaceuticals Price Performance

DAWN traded down $0.34 during trading hours on Monday, reaching $10.16. 4,168,538 shares of the stock traded hands, compared to its average volume of 2,026,168. Day One Biopharmaceuticals has a fifty-two week low of $5.64 and a fifty-two week high of $13.53. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -6.68 and a beta of -1.27. The firm’s fifty day simple moving average is $9.16 and its two-hundred day simple moving average is $7.82.

Day One Biopharmaceuticals (NASDAQ:DAWN) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.09. The business had revenue of $39.80 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.38 earnings per share. On average, research analysts predict that Day One Biopharmaceuticals will post -0.72 earnings per share for the current year.

Wall Street Analyst Weigh In

DAWN has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and issued a $25.00 target price on shares of Day One Biopharmaceuticals in a report on Monday, November 24th. JPMorgan Chase & Co. raised their target price on shares of Day One Biopharmaceuticals from $26.00 to $27.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $16.00 price target on shares of Day One Biopharmaceuticals in a research report on Monday, November 24th. Piper Sandler raised their price objective on Day One Biopharmaceuticals from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Wednesday, November 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock 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.