Dyne Therapeutics (NASDAQ:DYN) Stock Price Up 5.4% - Here's Why

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) traded up 5.4% during mid-day trading on Thursday . The company traded as high as $11.97 and last traded at $11.87. 871,901 shares were traded during mid-day trading, a decline of 59% from the average session volume of 2,122,307 shares. The stock had previously closed at $11.26.

Analysts Set New Price Targets

Several research analysts have recently commented on DYN shares. Scotiabank began coverage on Dyne Therapeutics in a research report on Friday, March 7th. They set a "sector outperform" rating and a $50.00 price target for the company. Robert W. Baird started coverage on Dyne Therapeutics in a research report on Friday, December 13th. They issued an "outperform" rating and a $46.00 target price for the company. Piper Sandler reduced their price target on shares of Dyne Therapeutics from $53.00 to $48.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Baird R W upgraded shares of Dyne Therapeutics to a "strong-buy" rating in a report on Thursday, December 12th. Finally, Raymond James raised shares of Dyne Therapeutics to a "strong-buy" rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $47.46.

Remove Ads

Dyne Therapeutics Stock Down 8.6 %

The company has a market cap of $1.18 billion, a price-to-earnings ratio of -2.94 and a beta of 1.11. The firm has a 50-day simple moving average of $13.27 and a 200 day simple moving average of $23.39.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.04. As a group, research analysts expect that Dyne Therapeutics, Inc. will post -3.44 EPS for the current year.

Insider Buying and Selling at Dyne Therapeutics

In related news, insider Oxana Beskrovnaya sold 2,598 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total value of $36,242.10. Following the completion of the sale, the insider now owns 199,087 shares in the company, valued at $2,777,263.65. This trade represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 6,237 shares of company stock worth $77,760. 20.77% of the stock is currently owned by insiders.

Institutional Trading of Dyne Therapeutics

A number of institutional investors have recently modified their holdings of the business. FMR LLC raised 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 acquiring an additional 3,707,734 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Dyne Therapeutics by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 7,379,309 shares of the company's stock worth $173,808,000 after buying an additional 566,146 shares in the last quarter. RTW Investments LP grew its position in Dyne Therapeutics by 6.8% during the third quarter. RTW Investments LP now owns 6,818,641 shares of the company's stock worth $244,926,000 after buying an additional 431,503 shares during the period. RA Capital Management L.P. lifted its position in shares of Dyne Therapeutics by 5.5% during the 3rd quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company's stock valued at $229,211,000 after acquiring an additional 331,940 shares during the period. Finally, State Street Corp boosted its stake in shares of Dyne Therapeutics by 13.8% during the 3rd quarter. State Street Corp now owns 3,641,859 shares of the company's stock worth $130,816,000 after acquiring an additional 440,890 shares in the last quarter. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

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.