Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Short Interest Down 20.3% in March

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

Wall Street Analyst Weigh In

A number of brokerages have commented on DAWN. TD Cowen cut shares of Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. HC Wainwright reaffirmed a “neutral” rating and issued a $21.50 price target (down from $22.00) on shares of Day One Biopharmaceuticals in a report on Tuesday, March 10th. JonesTrading lowered Day One Biopharmaceuticals from a “buy” rating to a “hold” rating and lifted their price target for the stock from $20.00 to $21.50 in a research report on Friday, March 6th. Needham & Company LLC cut Day One Biopharmaceuticals from a “buy” rating to a “hold” rating in a research note on Friday, March 6th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $21.50 price objective (down from $27.00) on shares of Day One Biopharmaceuticals in a research report on Wednesday, March 11th. One investment analyst has rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Day One Biopharmaceuticals has a consensus rating of “Hold” and an average price target of $23.29.

Day One Biopharmaceuticals Price Performance

DAWN stock opened at $21.41 on Monday. Day One Biopharmaceuticals has a twelve month low of $5.64 and a twelve month high of $21.46. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -20.79 and a beta of -1.25. The firm’s fifty day simple moving average is $14.62 and its two-hundred day simple moving average is $10.55.

Day One Biopharmaceuticals (NASDAQ:DAWN) last released its earnings results on Tuesday, February 24th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, equities research analysts expect that Day One Biopharmaceuticals will post -0.72 EPS for the current year.

Insider Buying and Selling at Day One Biopharmaceuticals

In related news, insider Lauren Merendino sold 5,814 shares of the firm’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $11.60, for a total value of $67,442.40. Following the completion of the transaction, the insider directly owned 60,157 shares of the company’s stock, valued at approximately $697,821.20. This trade represents a 8.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Adam Dubow sold 6,395 shares of the business’s stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $11.60, for a total transaction of $74,182.00. Following the completion of the sale, the insider owned 72,694 shares in the company, valued at $843,250.40. This represents a 8.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 36,461 shares of company stock worth $422,948. Company insiders own 6.20% of the company’s stock.

Institutional Trading of Day One Biopharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its stake in Day One Biopharmaceuticals by 40.4% in the first quarter. Royal Bank of Canada now owns 185,733 shares of the company’s stock worth $1,474,000 after purchasing an additional 53,459 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Day One Biopharmaceuticals by 601.4% during the first quarter. AQR Capital Management LLC now owns 618,627 shares of the company’s stock valued at $4,906,000 after buying an additional 530,429 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Day One Biopharmaceuticals by 6.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,992 shares of the company’s stock worth $302,000 after buying an additional 2,149 shares during the period. Millennium Management LLC raised its holdings in shares of Day One Biopharmaceuticals by 587.2% in the first quarter. Millennium Management LLC now owns 1,320,095 shares of the company’s stock worth $10,468,000 after buying an additional 1,127,995 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Day One Biopharmaceuticals by 232.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,569,918 shares of the company’s stock worth $12,449,000 after acquiring an additional 1,097,679 shares during the last quarter. 87.95% of the stock is owned by hedge funds and other institutional investors.

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.