Dyne Therapeutics (NASDAQ:DYN) Shares Up 9.8% – Here’s What Happened

Dyne Therapeutics, Inc. (NASDAQ:DYN) shot up 9.8% during mid-day trading on Tuesday . The stock traded as high as $31.26 and last traded at $30.88. 235,068 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 1,484,420 shares. The stock had previously closed at $28.13.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Stifel Nicolaus boosted their price objective on Dyne Therapeutics from $41.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. HC Wainwright reiterated a “buy” rating and set a $55.00 price objective on shares of Dyne Therapeutics in a research note on Wednesday. Oppenheimer restated an “outperform” rating and issued a $55.00 target price on shares of Dyne Therapeutics in a research note on Tuesday, September 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $53.00 price target on shares of Dyne Therapeutics in a research note on Monday, September 23rd. Finally, Chardan Capital reissued a “buy” rating and issued a $50.00 price objective on shares of Dyne Therapeutics in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $51.40.

Dyne Therapeutics Stock Performance

The firm has a market capitalization of $3.43 billion, a P/E ratio of -9.59 and a beta of 1.10. The stock has a fifty day moving average price of $32.64 and a two-hundred day moving average price of $35.12.

Dyne Therapeutics (NASDAQ:DYN) last released its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.25). As a group, research analysts anticipate that Dyne Therapeutics, Inc. will post -2.99 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Dyne Therapeutics news, Director Dirk Kersten sold 79,411 shares of Dyne Therapeutics stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $36.45, for a total value of $2,894,530.95. Following the completion of the transaction, the director now directly owns 234,127 shares in the company, valued at $8,533,929.15. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Dyne Therapeutics news, Director Dirk Kersten sold 79,411 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $36.45, for a total value of $2,894,530.95. Following the sale, the director now directly owns 234,127 shares in the company, valued at approximately $8,533,929.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John Cox acquired 32,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 8,000 shares in the company, valued at $264,320. The trade was a -100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 158,975 shares of company stock worth $5,693,789 over the last quarter. 20.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Several large investors have recently bought and sold shares of DYN. RA Capital Management L.P. bought a new position in shares of Dyne Therapeutics in the first quarter valued at approximately $140,666,000. FMR LLC lifted its position in Dyne Therapeutics by 69.7% in the third quarter. FMR LLC now owns 9,026,697 shares of the company’s stock worth $324,239,000 after purchasing an additional 3,707,734 shares during the period. Janus Henderson Group PLC boosted its stake in Dyne Therapeutics by 23,512.0% during the 1st quarter. Janus Henderson Group PLC now owns 2,675,240 shares of the company’s stock valued at $75,915,000 after purchasing an additional 2,663,910 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Dyne Therapeutics by 8,284.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,132,092 shares of the company’s stock worth $32,141,000 after buying an additional 1,118,590 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Dyne Therapeutics by 47.7% in the first quarter. Vanguard Group Inc. now owns 3,440,270 shares of the company’s stock valued at $97,669,000 after buying an additional 1,110,629 shares during the period. Institutional investors and hedge funds own 96.68% of the company’s stock.

About Dyne Therapeutics

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.