Short Interest in Dyne Therapeutics, Inc. (NASDAQ:DYN) Rises By 11.5%

Dyne Therapeutics, Inc. (NASDAQ:DYN) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totalling 7,660,000 shares, an increase of 11.5% from the August 31st total of 6,870,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the days-to-cover ratio is currently 5.7 days.

Insider Activity at Dyne Therapeutics

In related news, CEO John Cox purchased 32,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was purchased at an average price of $33.04 per share, for a total transaction of $1,057,280.00. Following the acquisition, the chief executive officer now directly owns 8,000 shares in the company, valued at $264,320. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Dyne Therapeutics news, COO Susanna Gatti High sold 8,976 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $34.41, for a total transaction of $308,864.16. Following the completion of the transaction, the chief operating officer now directly owns 131,636 shares of the company’s stock, valued at approximately $4,529,594.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John Cox acquired 32,000 shares of the business’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average price of $33.04 per share, for a total transaction of $1,057,280.00. Following the purchase, the chief executive officer now directly owns 8,000 shares of the company’s stock, valued at $264,320. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 135,304 shares of company stock worth $4,857,019. 20.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DYN. RA Capital Management L.P. bought a new stake in Dyne Therapeutics during the first quarter worth approximately $140,666,000. Vanguard Group Inc. grew its holdings in shares of Dyne Therapeutics by 47.7% in the 1st quarter. Vanguard Group Inc. now owns 3,440,270 shares of the company’s stock worth $97,669,000 after acquiring an additional 1,110,629 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Dyne Therapeutics by 23,512.0% during the first quarter. Janus Henderson Group PLC now owns 2,675,240 shares of the company’s stock worth $75,915,000 after purchasing an additional 2,663,910 shares during the period. Artal Group S.A. lifted its holdings in shares of Dyne Therapeutics by 24.6% during the first quarter. Artal Group S.A. now owns 1,517,960 shares of the company’s stock valued at $43,095,000 after purchasing an additional 300,000 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Dyne Therapeutics by 10.4% in the 2nd quarter. Federated Hermes Inc. now owns 1,215,112 shares of the company’s stock valued at $42,881,000 after purchasing an additional 114,888 shares during the period. Institutional investors own 96.68% of the company’s stock.

Wall Street Analyst Weigh In

DYN has been the subject of a number of research analyst reports. Guggenheim boosted their price target on Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Stifel Nicolaus increased their target price on shares of Dyne Therapeutics from $41.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Oppenheimer reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Dyne Therapeutics in a report on Tuesday, September 3rd. Morgan Stanley increased their price objective on shares of Dyne Therapeutics from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. lifted their target price on Dyne Therapeutics from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $51.40.

Dyne Therapeutics Price Performance

Shares of DYN traded down $1.16 during trading hours on Tuesday, reaching $34.76. 850,247 shares of the company’s stock traded hands, compared to its average volume of 1,588,912. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -9.05 and a beta of 1.07. The business’s fifty day simple moving average is $40.11 and its two-hundred day simple moving average is $34.00. Dyne Therapeutics has a twelve month low of $6.40 and a twelve month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last released its earnings results on Monday, August 12th. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.02. On average, equities research analysts expect that Dyne Therapeutics will post -2.96 EPS for the current year.

Dyne Therapeutics Company Profile

Dyne Therapeutics, Inc, a clinical-stage muscle disease company, operates as a biotechnology company that focuses on advancing therapeutics for genetically driven muscle diseases in the United States. It is developing a portfolio of muscle disease therapeutics, including programs in myotonic dystrophy type 1; duchenne muscular dystrophy; and facioscapulohumeral dystrophy, as well as rare skeletal muscle, and cardiac and metabolic muscle diseases using its FORCE platform that delivers disease-modifying therapeutics.