Dyne Therapeutics (NASDAQ:DYN) Shares Up 10.4% - What's Next?

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) was up 10.4% during trading on Thursday . The stock traded as high as $26.09 and last traded at $26.01. Approximately 235,707 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 1,423,980 shares. The stock had previously closed at $23.56.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on DYN. Robert W. Baird began coverage on shares of Dyne Therapeutics in a research note on Friday, December 13th. They set an "outperform" rating and a $46.00 target price on the stock. Royal Bank of Canada assumed coverage on Dyne Therapeutics in a report on Tuesday, November 26th. They set an "outperform" rating and a $45.00 target price on the stock. JPMorgan Chase & Co. cut Dyne Therapeutics from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $43.00 to $35.00 in a research note on Thursday, October 24th. Baird R W raised Dyne Therapeutics to a "strong-buy" rating in a research note on Thursday, December 12th. Finally, Chardan Capital restated a "buy" rating and set a $50.00 target price on shares of Dyne Therapeutics in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $50.42.

Dyne Therapeutics Stock Up 8.1 %

The stock has a market capitalization of $2.59 billion, a P/E ratio of -7.15 and a beta of 1.09. The business has a fifty day moving average price of $28.02 and a 200-day moving average price of $34.54.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.71) by ($0.25). On average, equities analysts expect that Dyne Therapeutics, Inc. will post -3.45 earnings per share for the current fiscal year.

Insider Activity

In other Dyne Therapeutics news, insider Oxana Beskrovnaya sold 2,334 shares of the company's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $28.12, for a total transaction of $65,632.08. Following the completion of the sale, the insider now directly owns 201,685 shares of the company's stock, valued at approximately $5,671,382.20. This represents a 1.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jason P. Rhodes sold 782 shares of Dyne Therapeutics stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $33.10, for a total transaction of $25,884.20. Following the transaction, the director now owns 15,962 shares in the company, valued at $528,342.20. This represents a 4.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,742 shares of company stock valued at $1,443,246 in the last ninety days. 20.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of DYN. State of New Jersey Common Pension Fund D purchased a new position in Dyne Therapeutics in the 3rd quarter worth approximately $1,588,000. Seven Eight Capital LP raised its position in shares of Dyne Therapeutics by 195.7% during the second quarter. Seven Eight Capital LP now owns 53,739 shares of the company's stock valued at $1,896,000 after buying an additional 35,568 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Dyne Therapeutics by 1.5% in the third quarter. Jennison Associates LLC now owns 1,346,952 shares of the company's stock worth $48,383,000 after buying an additional 19,730 shares in the last quarter. Mutual of America Capital Management LLC bought a new position in shares of Dyne Therapeutics during the second quarter worth $1,724,000. Finally, Victory Capital Management Inc. purchased a new position in Dyne Therapeutics during the second quarter valued at $676,000. Hedge funds and other institutional investors own 96.68% of the company's stock.

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.