Day One Biopharmaceuticals Sees Unusually Large Options Volume (NASDAQ:DAWN)

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) was the target of unusually large options trading on Tuesday. Traders bought 21,192 call options on the stock. This represents an increase of approximately 755% compared to the average daily volume of 2,478 call options.

Day One Biopharmaceuticals Price Performance

Shares of Day One Biopharmaceuticals stock traded up $1.37 during trading on Tuesday, hitting $11.53. 3,187,921 shares of the company were exchanged, compared to its average volume of 2,862,787. The firm has a market capitalization of $1.18 billion, a P/E 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 firm’s fifty day moving average price is $9.16 and its 200 day moving average price is $7.85.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.09. The firm had revenue of $39.80 million for the quarter, compared to the consensus estimate of $38.20 million. Day One Biopharmaceuticals had a negative return on equity of 32.05% and a negative net margin of 113.53%.The business’s revenue was down 57.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 earnings per share. As a group, equities research analysts anticipate that Day One Biopharmaceuticals will post -0.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DAWN shares. Zacks Research raised shares of Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research note on Monday, December 29th. Needham & Company LLC restated a “buy” rating and set a $16.00 target price on shares of Day One Biopharmaceuticals in a research report on Monday, November 24th. Piper Sandler raised their price target on Day One Biopharmaceuticals from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Wednesday, November 5th. Finally, HC Wainwright reiterated a “buy” rating and issued a $25.00 price objective on shares of Day One Biopharmaceuticals in a research report on Monday, November 24th. One investment 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $25.71.

Insider Buying and Selling

In other Day One Biopharmaceuticals news, insider Adam Dubow sold 4,319 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $8.91, for a total transaction of $38,482.29. Following the completion of the transaction, the insider directly owned 62,626 shares in the company, valued at $557,997.66. This represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Charles N. York II sold 4,062 shares of the business’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 $36,192.42. Following the completion of the sale, the chief financial officer owned 294,715 shares in the company, valued at $2,625,910.65. This represents a 1.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 28,001 shares of company stock valued at $249,489. 6.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. lifted its position in Day One Biopharmaceuticals by 229.7% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 313,455 shares of the company’s stock worth $2,921,000 after purchasing an additional 218,383 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Day One Biopharmaceuticals by 1,228.9% during the 4th quarter. SG Americas Securities LLC now owns 350,092 shares of the company’s stock worth $3,263,000 after acquiring an additional 323,747 shares during the period. Tudor Investment Corp ET AL boosted its position in shares of Day One Biopharmaceuticals by 36.2% during the 3rd quarter. Tudor Investment Corp ET AL now owns 49,550 shares of the company’s stock worth $349,000 after acquiring an additional 13,157 shares in the last quarter. Hudson Bay Capital Management LP increased its stake in Day One Biopharmaceuticals by 1.8% in the third quarter. Hudson Bay Capital Management LP now owns 1,320,000 shares of the company’s stock valued at $9,306,000 after acquiring an additional 23,300 shares during the last quarter. Finally, PharVision Advisers LLC acquired a new position in Day One Biopharmaceuticals during the third quarter valued at approximately $299,000. Institutional investors own 87.95% of the company’s stock.

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.