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Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Short Interest Up 25.1% in January

kopsource · Jan 29, 2023 00:21

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN – Get Rating) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 5,590,000 shares, a growth of 25.1% from the December 31st total of 4,470,000 shares. Approximately 14.0% of the company's stock are sold short. Based on an average trading volume of 533,200 shares, the short-interest ratio is presently 10.5 days.

Wall Street Analyst Weigh In

DAWN has been the topic of a number of research reports. Bank of America initiated coverage on Day One Biopharmaceuticals in a research report on Thursday, December 1st. They set a "buy" rating and a $34.00 target price on the stock. Piper Sandler upped their price objective on shares of Day One Biopharmaceuticals from $40.00 to $45.00 and gave the stock an "overweight" rating in a report on Sunday, January 8th. HC Wainwright raised their price objective on shares of Day One Biopharmaceuticals from $35.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, January 9th. The Goldman Sachs Group boosted their target price on shares of Day One Biopharmaceuticals from $45.00 to $62.00 and gave the stock a "buy" rating in a research report on Monday, January 9th. Finally, Needham & Company LLC assumed coverage on shares of Day One Biopharmaceuticals in a research report on Wednesday, December 14th. They issued a "buy" rating and a $40.00 price target on the stock. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $43.50.

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Day One Biopharmaceuticals Price Performance

NASDAQ:DAWN traded down $0.09 during trading hours on Friday, hitting $21.45. 263,007 shares of the company traded hands, compared to its average volume of 641,030. Day One Biopharmaceuticals has a one year low of $5.44 and a one year high of $28.35. The firm's 50-day simple moving average is $21.31 and its 200-day simple moving average is $21.15.

Day One Biopharmaceuticals (NASDAQ:DAWN – Get Rating) last released its quarterly earnings results on Monday, November 7th. The company reported ($0.53) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.53). As a group, analysts forecast that Day One Biopharmaceuticals will post -2.18 EPS for the current fiscal year.

Insider Activity at Day One Biopharmaceuticals

In other Day One Biopharmaceuticals news, insider Samuel C. Blackman sold 10,000 shares of the firm's stock in a transaction on Tuesday, January 10th. The shares were sold at an average price of $22.86, for a total value of $228,600.00. Following the completion of the sale, the insider now directly owns 1,250,148 shares in the company, valued at $28,578,383.28. 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 10,000 shares of the stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $22.86, for a total transaction of $228,600.00. Following the transaction, the insider now owns 1,250,148 shares of the company's stock, valued at approximately $28,578,383.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Julie Papanek Grant sold 5,000 shares of the firm's stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $20.04, for a total value of $100,200.00. Following the completion of the sale, the director now owns 424,358 shares of the company's stock, valued at $8,504,134.32. The disclosure for this sale can be found here. Insiders have sold 151,678 shares of company stock worth $3,189,287 in the last quarter. Company insiders own 8.70% of the company's stock.

Hedge Funds Weigh In On Day One Biopharmaceuticals

Hedge funds have recently modified their holdings of the company. Atlas Venture Life Science Advisors LLC increased its position in shares of Day One Biopharmaceuticals by 9.3% during the second quarter. Atlas Venture Life Science Advisors LLC now owns 8,968,305 shares of the company's stock valued at $160,533,000 after acquiring an additional 766,667 shares during the last quarter. FMR LLC increased its position in shares of Day One Biopharmaceuticals by 163.1% during the 2nd quarter. FMR LLC now owns 6,826,574 shares of the company's stock valued at $122,196,000 after purchasing an additional 4,232,055 shares during the last quarter. Deerfield Management Company L.P. Series C raised its stake in shares of Day One Biopharmaceuticals by 68.3% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 3,512,123 shares of the company's stock worth $62,867,000 after purchasing an additional 1,425,674 shares during the period. BlackRock Inc. boosted its holdings in shares of Day One Biopharmaceuticals by 29.5% in the 3rd quarter. BlackRock Inc. now owns 2,541,235 shares of the company's stock worth $50,901,000 after buying an additional 578,511 shares during the last quarter. Finally, Franklin Resources Inc. grew its position in Day One Biopharmaceuticals by 59.8% during the second quarter. Franklin Resources Inc. now owns 2,465,380 shares of the company's stock valued at $44,130,000 after buying an additional 922,521 shares during the period. Institutional investors own 86.08% of the company's stock.

Day One Biopharmaceuticals Company Profile

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Day One Biopharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops and commercializes targeted therapies for patients with genetically defined cancers. Its lead product candidate is DAY101, an oral brain-penetrant type II pan-rapidly accelerated fibrosarcoma kinase inhibitor that is in Phase II clinical trial for pediatric patients with relapsed/progressive low-grade glioma.