Day One Biopharmaceuticals Sees Unusually High Options Volume (NASDAQ:DAWN)

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) was the recipient of unusually large options trading on Friday. Investors bought 20,759 call options on the company. This represents an increase of 519% compared to the typical volume of 3,354 call options.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Day One Biopharmaceuticals in a research report on Monday, December 29th. JPMorgan Chase & Co. raised their price target on shares of Day One Biopharmaceuticals from $26.00 to $27.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. HC Wainwright reduced their target price on Day One Biopharmaceuticals from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Zacks Research lowered Day One Biopharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 25th. Finally, Needham & Company LLC restated a “hold” rating on shares of Day One Biopharmaceuticals in a research note on Friday. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.14.

Insiders Place Their Bets

In other Day One Biopharmaceuticals news, CEO Jeremy Bender sold 15,459 shares of the stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $11.60, for a total value of $179,324.40. Following the completion of the sale, the chief executive officer owned 204,603 shares in the company, valued at $2,373,394.80. This represents a 7.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Charles N. York II sold 6,065 shares of Day One Biopharmaceuticals stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $11.60, for a total transaction of $70,354.00. Following the sale, the chief financial officer directly owned 312,025 shares of the company’s stock, valued at $3,619,490. This trade represents a 1.91% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 36,461 shares of company stock valued at $422,948 over the last ninety days. Insiders own 6.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada increased its holdings 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 valued at $1,474,000 after purchasing an additional 53,459 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Day One Biopharmaceuticals by 601.4% in the 1st quarter. AQR Capital Management LLC now owns 618,627 shares of the company’s stock worth $4,906,000 after buying an additional 530,429 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Day One Biopharmaceuticals by 6.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,992 shares of the company’s stock valued at $302,000 after buying an additional 2,149 shares during the period. Millennium Management LLC raised its position in 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 acquiring an additional 1,127,995 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Day One Biopharmaceuticals by 232.4% in the first quarter. Goldman Sachs Group Inc. now owns 1,569,918 shares of the company’s stock valued at $12,449,000 after acquiring an additional 1,097,679 shares during the last quarter. Institutional investors and hedge funds own 87.95% of the company’s stock.

Day One Biopharmaceuticals Trading Up 65.9%

Shares of NASDAQ:DAWN traded up $8.42 on Friday, reaching $21.20. 66,829,348 shares of the company’s stock were exchanged, compared to its average volume of 4,102,873. Day One Biopharmaceuticals has a twelve month low of $5.64 and a twelve month high of $21.20. The company has a fifty day moving average of $10.87 and a 200-day moving average of $8.95. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of -20.58 and a beta of -1.25.

Day One Biopharmaceuticals (NASDAQ:DAWN) last posted its quarterly earnings data on Tuesday, February 24th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). Day One Biopharmaceuticals had a negative return on equity of 23.43% and a negative net margin of 67.85%.The company had revenue of $53.72 million for the quarter, compared to the consensus estimate of $49.81 million. As a group, equities research analysts forecast that Day One Biopharmaceuticals will post -0.72 EPS for the current fiscal year.

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.