Dyne Therapeutics, Inc. (NASDAQ:DYN) Short Interest Up 9.1% in October

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) was the recipient of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 9,940,000 shares, a growth of 9.1% from the October 15th total of 9,110,000 shares. Based on an average daily trading volume, of 1,230,000 shares, the days-to-cover ratio is presently 8.1 days.

Analyst Ratings Changes

Several analysts have recently commented on DYN shares. Chardan Capital reissued a "buy" rating and issued a $50.00 price target on shares of Dyne Therapeutics in a report on Wednesday. HC Wainwright reissued a "buy" rating and issued a $55.00 price target on shares of Dyne Therapeutics in a report on Wednesday. StockNews.com cut Dyne Therapeutics from a "hold" rating to a "sell" rating in a report on Monday, September 16th. Piper Sandler reissued an "overweight" rating and issued a $53.00 price target on shares of Dyne Therapeutics in a report on Monday, September 23rd. Finally, Oppenheimer reissued an "outperform" rating and issued a $55.00 price target on shares of Dyne Therapeutics in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Dyne Therapeutics has an average rating of "Moderate Buy" and a consensus target price of $51.40.

Insider Buying and Selling

In other Dyne Therapeutics news, COO Susanna Gatti High sold 8,976 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $34.41, for a total transaction of $308,864.16. Following the completion of the sale, the chief operating officer now directly owns 131,636 shares of the company's stock, valued at approximately $4,529,594.76. This trade represents a 6.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dirk Kersten sold 23,671 shares of the stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $35.35, for a total value of $836,769.85. Following the sale, the director now directly owns 99,652 shares of the company's stock, valued at $3,522,698.20. The trade was a 19.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 158,975 shares of company stock worth $5,693,789 in the last quarter. 20.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Several hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC grew its position in shares of Dyne Therapeutics by 904.1% in the second quarter. Nisa Investment Advisors LLC now owns 743 shares of the company's stock valued at $26,000 after purchasing an additional 669 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Dyne Therapeutics in the third quarter valued at $34,000. Point72 DIFC Ltd purchased a new stake in shares of Dyne Therapeutics in the third quarter valued at $36,000. US Bancorp DE boosted its holdings in Dyne Therapeutics by 776.9% in the third quarter. US Bancorp DE now owns 1,368 shares of the company's stock valued at $49,000 after acquiring an additional 1,212 shares during the last quarter. Finally, Values First Advisors Inc. acquired a new position in Dyne Therapeutics in the third quarter valued at $62,000. Hedge funds and other institutional investors own 96.68% of the company's stock.

Dyne Therapeutics Price Performance

Dyne Therapeutics stock traded down $1.92 during mid-day trading on Friday, hitting $28.39. 1,421,927 shares of the company were exchanged, compared to its average volume of 1,046,585. The business's 50 day simple moving average is $32.48 and its two-hundred day simple moving average is $35.24. The company has a market capitalization of $2.89 billion, a P/E ratio of -7.97 and a beta of 1.10. Dyne Therapeutics has a 12-month low of $9.76 and a 12-month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last released its quarterly 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). Equities research analysts predict that Dyne Therapeutics will post -3.39 earnings per share for the current year.

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.