Short Interest in Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Declines By 6.6%

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) was the recipient of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 8,980,000 shares, a decrease of 6.6% from the March 15th total of 9,610,000 shares. Currently, 15.2% of the company’s stock are short sold. Based on an average daily volume of 619,200 shares, the short-interest ratio is currently 14.5 days.

Analyst Ratings Changes

Several research analysts recently commented on DAWN shares. Piper Sandler reiterated an “overweight” rating and issued a $40.00 price target on shares of Day One Biopharmaceuticals in a research note on Tuesday, March 26th. The Goldman Sachs Group cut their target price on Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. Finally, Oppenheimer reissued a “market perform” rating on shares of Day One Biopharmaceuticals in a research report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.60.

Day One Biopharmaceuticals Stock Up 1.6 %

Shares of Day One Biopharmaceuticals stock opened at $14.85 on Thursday. Day One Biopharmaceuticals has a fifty-two week low of $9.67 and a fifty-two week high of $17.85. The firm has a market cap of $1.30 billion, a P/E ratio of -6.24 and a beta of -1.48. The business has a 50-day moving average price of $15.23 and a 200 day moving average price of $13.67.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings data on Monday, February 26th. The company reported ($0.64) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.57) by ($0.07). As a group, equities research analysts anticipate that Day One Biopharmaceuticals will post -2.66 earnings per share for the current year.

Insider Buying and Selling

In other Day One Biopharmaceuticals news, General Counsel Adam Dubow sold 3,242 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.25, for a total value of $49,440.50. Following the transaction, the general counsel now directly owns 16,585 shares of the company’s stock, valued at $252,921.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Samuel C. Blackman sold 2,258 shares of Day One Biopharmaceuticals stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $15.25, for a total transaction of $34,434.50. Following the sale, the insider now owns 1,244,662 shares in the company, valued at $18,981,095.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Adam Dubow sold 3,242 shares of the company’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $15.25, for a total transaction of $49,440.50. Following the completion of the transaction, the general counsel now owns 16,585 shares of the company’s stock, valued at $252,921.25. The disclosure for this sale can be found here. In the last three months, insiders sold 45,781 shares of company stock valued at $722,960. Company insiders own 8.40% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of DAWN. Bank of New York Mellon Corp raised its stake in Day One Biopharmaceuticals by 78.3% during the first quarter. Bank of New York Mellon Corp now owns 57,490 shares of the company’s stock worth $570,000 after acquiring an additional 25,250 shares during the period. MetLife Investment Management LLC acquired a new stake in shares of Day One Biopharmaceuticals during the 1st quarter worth approximately $154,000. Rhumbline Advisers bought a new stake in shares of Day One Biopharmaceuticals in the 1st quarter worth approximately $193,000. BlackRock Inc. boosted its position in Day One Biopharmaceuticals by 54.6% during the 1st quarter. BlackRock Inc. now owns 1,162,916 shares of the company’s stock valued at $11,537,000 after purchasing an additional 410,797 shares during the period. Finally, American International Group Inc. grew its stake in Day One Biopharmaceuticals by 92.7% during the 1st quarter. American International Group Inc. now owns 11,294 shares of the company’s stock worth $112,000 after buying an additional 5,434 shares during the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.

About Day One Biopharmaceuticals

Day One Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops and commercializes targeted therapies for patients with genomically defined cancers. Its lead product candidate is tovorafenib, an oral brain-penetrant type II pan-rapidly accelerated fibrosarcoma kinase inhibitor that is in Phase II clinical trial for pediatric patients with relapsed/ refractory low-grade glioma.