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

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN - Get Free Report) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 8,980,000 shares, a decline 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 trading volume, of 619,200 shares, the short-interest ratio is currently 14.5 days.

Wall Street Analyst Weigh In

A number of research firms have commented on DAWN. Oppenheimer reaffirmed a "market perform" rating on shares of Day One Biopharmaceuticals in a research report on Tuesday, February 27th. Piper Sandler reissued an "overweight" rating and issued a $40.00 target price on shares of Day One Biopharmaceuticals in a research report on Tuesday, March 26th. Finally, The Goldman Sachs Group reduced their target price on shares of Day One Biopharmaceuticals from $50.00 to $44.00 and set a "buy" rating for the company in a research report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Day One Biopharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $40.60.

Insider Buying and Selling

In related news, CFO Charles N. York II sold 2,666 shares of the business'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 $40,656.50. Following the transaction, the chief financial officer now directly owns 277,754 shares in the company, valued at $4,235,748.50. The sale was disclosed in a filing with the SEC, which is available through this link. In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 2,258 shares of Day One Biopharmaceuticals stock in a transaction 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 completion of the transaction, the insider now directly owns 1,244,662 shares of the company's stock, valued at $18,981,095.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Charles N. York II sold 2,666 shares of Day One Biopharmaceuticals stock in a transaction on Friday, February 16th. The stock was sold at an average price of $15.25, for a total transaction of $40,656.50. Following the transaction, the chief financial officer now directly owns 277,754 shares of the company's stock, valued at $4,235,748.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 45,781 shares of company stock worth $722,960. Insiders own 8.40% of the company's stock.

Institutional Trading of Day One Biopharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC bought a new position in shares of Day One Biopharmaceuticals in the 4th quarter worth $29,000. China Universal Asset Management Co. Ltd. raised its position in Day One Biopharmaceuticals by 130.9% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 2,226 shares of the company's stock valued at $27,000 after buying an additional 1,262 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Day One Biopharmaceuticals during the 2nd quarter valued at $51,000. Quintet Private Bank Europe S.A. increased its position in shares of Day One Biopharmaceuticals by 43.2% during the 4th quarter. Quintet Private Bank Europe S.A. now owns 3,313 shares of the company's stock valued at $48,000 after purchasing an additional 1,000 shares during the last quarter. Finally, UBS Group AG purchased a new stake in shares of Day One Biopharmaceuticals during the 2nd quarter valued at $69,000. 87.95% of the stock is currently owned by institutional investors.

Day One Biopharmaceuticals Trading Up 5.5 %

NASDAQ DAWN traded up $0.76 during trading on Tuesday, hitting $14.61. 751,033 shares of the company's stock were exchanged, compared to its average volume of 616,041. The stock's 50 day moving average price is $15.26 and its two-hundred day moving average price is $13.64. Day One Biopharmaceuticals has a fifty-two week low of $9.67 and a fifty-two week high of $17.85. The company has a market cap of $1.28 billion, a PE ratio of -6.11 and a beta of -1.48.

Day One Biopharmaceuticals (NASDAQ:DAWN - Get Free Report) last announced its earnings results on Monday, February 26th. The company reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.07). Analysts forecast that Day One Biopharmaceuticals will post -2.66 earnings per share for the current fiscal year.

Day One Biopharmaceuticals Company Profile

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.