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

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

Day One Biopharmaceuticals Stock Performance

DAWN stock opened at $14.61 on Wednesday. The company has a market capitalization of $1.28 billion, a PE ratio of -6.14 and a beta of -1.48. Day One Biopharmaceuticals has a one year low of $9.67 and a one year high of $17.85. The company’s 50 day moving average price is $15.24 and its two-hundred day moving average price is $13.66.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly 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). On average, research analysts predict that Day One Biopharmaceuticals will post -2.66 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DAWN shares. The Goldman Sachs Group lowered their target price on shares of Day One Biopharmaceuticals from $50.00 to $44.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Piper Sandler reissued an “overweight” rating and set a $40.00 price target on shares of Day One Biopharmaceuticals in a research note on Tuesday, March 26th. Finally, Oppenheimer reissued a “market perform” rating on shares of Day One Biopharmaceuticals in a research note on Tuesday, February 27th. One 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.60.

Insiders Place Their Bets

In other news, CFO Charles N. York II sold 2,666 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.25, for a total value of $40,656.50. Following the sale, the chief financial officer now directly owns 277,754 shares of the company’s stock, valued at $4,235,748.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO Charles N. York II sold 2,666 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $15.25, for a total value of $40,656.50. Following the sale, the chief financial officer now directly owns 277,754 shares of the company’s stock, valued at $4,235,748.50. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Samuel C. Blackman sold 2,258 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $15.25, for a total transaction of $34,434.50. Following the completion of the sale, the insider now directly owns 1,244,662 shares in the company, valued at $18,981,095.50. The disclosure for this sale can be found here. Insiders sold 45,781 shares of company stock worth $722,960 over the last quarter. 8.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Day One Biopharmaceuticals by 3.0% in the fourth quarter. Vanguard Group Inc. now owns 4,769,746 shares of the company’s stock worth $69,638,000 after purchasing an additional 139,992 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of Day One Biopharmaceuticals by 89.0% in the fourth quarter. Fisher Asset Management LLC now owns 68,446 shares of the company’s stock worth $999,000 after purchasing an additional 32,238 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Day One Biopharmaceuticals by 77.7% in the fourth quarter. Wellington Management Group LLP now owns 208,969 shares of the company’s stock worth $3,051,000 after purchasing an additional 91,393 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Day One Biopharmaceuticals by 28.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,118,849 shares of the company’s stock worth $30,935,000 after purchasing an additional 472,654 shares during the last quarter. Finally, Quintet Private Bank Europe S.A. grew its holdings in shares of Day One Biopharmaceuticals by 43.2% in the fourth quarter. Quintet Private Bank Europe S.A. now owns 3,313 shares of the company’s stock worth $48,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 87.95% of the company’s stock.

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.