Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) Sees Significant Growth in Short Interest

Day One Biopharmaceuticals, Inc. (NASDAQ:DAWN) was the target of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,550,000 shares, an increase of 22.0% from the August 15th total of 1,270,000 shares. Currently, 7.8% of the shares of the stock are sold short. Based on an average trading volume of 81,500 shares, the days-to-cover ratio is currently 19.0 days.

Shares of NASDAQ:DAWN traded up $1.46 on Wednesday, reaching $22.01. 82,524 shares of the company traded hands, compared to its average volume of 133,478. The business has a 50-day simple moving average of $24.45. Day One Biopharmaceuticals has a 52 week low of $17.19 and a 52 week high of $28.70.

Day One Biopharmaceuticals (NASDAQ:DAWN) last announced its quarterly earnings data on Monday, August 9th. The company reported ($5.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.32) by ($4.72). As a group, research analysts expect that Day One Biopharmaceuticals will post 0.94 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. RA Capital Management L.P. purchased a new stake in shares of Day One Biopharmaceuticals during the second quarter worth about $113,066,000. FMR LLC purchased a new stake in shares of Day One Biopharmaceuticals during the second quarter worth about $52,655,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Day One Biopharmaceuticals during the second quarter worth about $33,434,000. Boxer Capital LLC purchased a new stake in shares of Day One Biopharmaceuticals during the second quarter worth about $27,095,000. Finally, BVF Inc. IL purchased a new stake in shares of Day One Biopharmaceuticals during the second quarter worth about $20,925,000. Institutional investors own 28.54% of the company’s stock.

DAWN has been the topic of a number of research analyst reports. Piper Sandler initiated coverage on Day One Biopharmaceuticals in a research note on Monday, June 21st. They issued an “overweight” rating and a $44.00 target price on the stock. JPMorgan Chase & Co. started coverage on Day One Biopharmaceuticals in a research note on Monday, June 21st. They set an “overweight” rating and a $38.00 price objective on the stock. Wedbush started coverage on Day One Biopharmaceuticals in a research note on Monday, June 21st. They set an “outperform” rating and a $30.00 price objective on the stock. Finally, Cowen started coverage on Day One Biopharmaceuticals in a research note on Monday, June 21st. They set an “outperform” rating on the stock.

About Day One Biopharmaceuticals

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.

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