Dyne Therapeutics (NASDAQ:DYN) Shares Up 7.9% After Insider Buying Activity

Dyne Therapeutics, Inc. (NASDAQ:DYN) shares traded up 7.9% during trading on Wednesday following insider buying activity. The company traded as high as $34.72 and last traded at $34.47. 1,286,476 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 1,605,016 shares. The stock had previously closed at $31.94.

Specifically, CEO John Cox purchased 32,000 shares of the stock in a transaction on Wednesday, September 4th. The stock was bought 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 of the company’s stock, valued at approximately $264,320. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Analysts Set New Price Targets

DYN has been the subject of several analyst reports. Chardan Capital upped their target price on shares of Dyne Therapeutics from $31.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Guggenheim upped their target price on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. upped their target price on shares of Dyne Therapeutics from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. HC Wainwright restated a “buy” rating and issued a $55.00 target price on shares of Dyne Therapeutics in a report on Wednesday. Finally, Morgan Stanley upped their target price on shares of Dyne Therapeutics from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $51.40.

Dyne Therapeutics Stock Performance

The firm’s 50-day moving average is $41.63 and its 200 day moving average is $32.84. The stock has a market cap of $2.89 billion, a PE ratio of -7.98 and a beta of 1.07.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings results on Monday, August 12th. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.02. On average, sell-side analysts predict that Dyne Therapeutics, Inc. will post -2.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Dyne Therapeutics

A number of large investors have recently bought and sold shares of the company. AQR Capital Management LLC raised its position in Dyne Therapeutics by 4.3% during the 2nd quarter. AQR Capital Management LLC now owns 8,495 shares of the company’s stock worth $300,000 after buying an additional 352 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Dyne Therapeutics by 904.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock valued at $26,000 after purchasing an additional 669 shares in the last quarter. Amalgamated Bank increased its holdings in shares of Dyne Therapeutics by 39.9% in the 2nd quarter. Amalgamated Bank now owns 2,792 shares of the company’s stock valued at $99,000 after purchasing an additional 796 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Dyne Therapeutics by 5.9% in the 1st quarter. Principal Financial Group Inc. now owns 15,403 shares of the company’s stock valued at $437,000 after purchasing an additional 857 shares in the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new position in shares of Dyne Therapeutics in the 1st quarter valued at about $28,000. Hedge funds and other institutional investors 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.