Day One Biopharmaceuticals Target of Unusually Large Options Trading (NASDAQ:DAWN)

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) was the target of some unusual options trading activity on Wednesday. Traders acquired 5,027 call options on the company. This is an increase of approximately 273% compared to the average daily volume of 1,348 call options.

Insider Activity

In other news, insider Adam Dubow sold 4,319 shares of Day One Biopharmaceuticals stock in a transaction on Monday, November 17th. The stock was sold at an average price of $8.91, for a total value of $38,482.29. Following the completion of the sale, the insider owned 62,626 shares of the company’s stock, valued at $557,997.66. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Charles N. York II sold 4,062 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $8.91, for a total value of $36,192.42. Following the transaction, the chief financial officer owned 294,715 shares in the company, valued at $2,625,910.65. This trade represents a 1.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 28,001 shares of company stock worth $249,489. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new stake in shares of Day One Biopharmaceuticals during the third quarter worth about $39,000. Quarry LP bought a new stake in shares of Day One Biopharmaceuticals in the third quarter worth $49,000. Ameritas Investment Partners Inc. raised its holdings in Day One Biopharmaceuticals by 44.5% in the second quarter. Ameritas Investment Partners Inc. now owns 7,349 shares of the company’s stock valued at $48,000 after acquiring an additional 2,264 shares in the last quarter. Quantbot Technologies LP bought a new position in Day One Biopharmaceuticals during the 1st quarter valued at $82,000. Finally, Entropy Technologies LP acquired a new position in Day One Biopharmaceuticals during the 2nd quarter worth $67,000. 87.95% of the stock is owned by hedge funds and other institutional investors.

Day One Biopharmaceuticals Price Performance

Day One Biopharmaceuticals stock traded up $0.19 during midday trading on Wednesday, hitting $8.44. 258,875 shares of the company were exchanged, compared to its average volume of 1,597,609. The company has a market cap of $866.48 million, a PE ratio of -5.57 and a beta of -1.28. Day One Biopharmaceuticals has a fifty-two week low of $5.64 and a fifty-two week high of $13.53. The company’s fifty day moving average price is $8.25 and its 200-day moving average price is $7.36.

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

Wall Street Analysts Forecast Growth

DAWN has been the topic of several research analyst reports. Piper Sandler raised their target price on shares of Day One Biopharmaceuticals from $25.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Needham & Company LLC reissued a “buy” rating and set a $16.00 price target on shares of Day One Biopharmaceuticals in a research report on Monday, November 24th. HC Wainwright restated a “buy” rating and issued a $25.00 price objective on shares of Day One Biopharmaceuticals in a report on Monday, November 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a report on Monday. Finally, Zacks Research upgraded shares of Day One Biopharmaceuticals from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $24.43.

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.