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

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) saw some unusual options trading activity on Tuesday. Stock traders purchased 21,192 call options on the company. This is an increase of approximately 755% compared to the average volume of 2,478 call options.

Insider Buying and Selling at Day One Biopharmaceuticals

In related news, insider Lauren Merendino sold 3,726 shares of Day One Biopharmaceuticals stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $8.91, for a total value of $33,198.66. Following the completion of the transaction, the insider owned 50,809 shares in the company, valued at approximately $452,708.19. This trade represents a 6.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jeremy Bender sold 15,894 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $8.91, for a total value of $141,615.54. Following the sale, the chief executive officer owned 177,165 shares in the company, valued at approximately $1,578,540.15. This trade represents a 8.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 28,001 shares of company stock valued at $249,489. Corporate insiders own 6.20% of the company’s stock.

Institutional Investors Weigh In On Day One Biopharmaceuticals

Institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC lifted its holdings in shares of Day One Biopharmaceuticals by 12.9% during the 2nd quarter. ProShare Advisors LLC now owns 18,545 shares of the company’s stock valued at $121,000 after purchasing an additional 2,121 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Day One Biopharmaceuticals by 6.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,992 shares of the company’s stock valued at $302,000 after purchasing an additional 2,149 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in Day One Biopharmaceuticals by 44.5% during the 2nd 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 last quarter. Teacher Retirement System of Texas raised its holdings in shares of Day One Biopharmaceuticals by 18.4% in the second quarter. Teacher Retirement System of Texas now owns 17,721 shares of the company’s stock worth $115,000 after buying an additional 2,750 shares during the last quarter. Finally, Pale Fire Capital SE grew its holdings in shares of Day One Biopharmaceuticals by 9.9% during the second quarter. Pale Fire Capital SE now owns 34,843 shares of the company’s stock valued at $226,000 after buying an additional 3,150 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors and hedge funds.

Day One Biopharmaceuticals Stock Performance

Shares of DAWN opened at $12.07 on Thursday. The stock has a market capitalization of $1.24 billion, a PE ratio of -7.94 and a beta of -1.27. The company has a 50 day moving average price of $9.23 and a 200-day moving average price of $7.91. Day One Biopharmaceuticals has a fifty-two week low of $5.64 and a fifty-two week high of $13.53.

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

Wall Street Analyst Weigh In

DAWN has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research note on Monday, December 29th. Piper Sandler upped 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. TD Cowen assumed coverage on shares of Day One Biopharmaceuticals in a research note on Tuesday, January 13th. They set a “buy” rating and a $34.00 target price for the company. Zacks Research raised shares of Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Finally, Needham & Company LLC restated a “buy” rating and issued a $16.00 target price on shares of Day One Biopharmaceuticals in a research note on Monday, November 24th. One research 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $25.71.

About Day One Biopharmaceuticals

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.