Dyne Therapeutics (NASDAQ:DYN) Shares Up 7% – Time to Buy?

Dyne Therapeutics, Inc. (NASDAQ:DYN) was up 7% on Thursday . The company traded as high as $16.70 and last traded at $16.77. Approximately 957,536 shares were traded during trading, a decline of 64% from the average daily volume of 2,685,010 shares. The stock had previously closed at $15.68.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DYN. Baird R W upgraded Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. JPMorgan Chase & Co. lowered shares of Dyne Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $43.00 to $35.00 in a research note on Thursday, October 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $45.00 price target on shares of Dyne Therapeutics in a report on Tuesday, January 14th. Chardan Capital reissued a “buy” rating and issued a $50.00 price objective on shares of Dyne Therapeutics in a research report on Friday, January 10th. Finally, Robert W. Baird began coverage on Dyne Therapeutics in a research report on Friday, December 13th. They issued an “outperform” rating and a $46.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Dyne Therapeutics has an average rating of “Moderate Buy” and an average target price of $49.91.

Dyne Therapeutics Stock Performance

The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -4.32 and a beta of 1.11. The firm’s 50 day moving average is $20.94 and its 200-day moving average is $30.75.

Dyne Therapeutics (NASDAQ:DYN) last posted its earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.25). As a group, sell-side analysts forecast that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current year.

Insider Activity at Dyne Therapeutics

In other news, SVP Richard William Scalzo sold 1,455 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $28.12, for a total value of $40,914.60. Following the completion of the sale, the senior vice president now directly owns 127,078 shares in the company, valued at $3,573,433.36. This represents a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Oxana Beskrovnaya sold 2,334 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $28.12, for a total transaction of $65,632.08. Following the transaction, the insider now owns 201,685 shares in the company, valued at $5,671,382.20. The trade was a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,071 shares of company stock valued at $606,476. 20.77% of the stock is owned by company insiders.

Institutional Trading of Dyne Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC raised its stake in Dyne Therapeutics by 69.7% during 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. RTW Investments LP grew its holdings in shares of Dyne Therapeutics by 6.8% during the 3rd quarter. RTW Investments LP now owns 6,818,641 shares of the company’s stock worth $244,926,000 after purchasing an additional 431,503 shares during the period. Janus Henderson Group PLC increased its position in shares of Dyne Therapeutics by 47.3% during the 3rd quarter. Janus Henderson Group PLC now owns 6,813,163 shares of the company’s stock worth $244,755,000 after purchasing an additional 2,189,339 shares during the last quarter. RA Capital Management L.P. raised its holdings in Dyne Therapeutics by 5.5% in 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 buying an additional 331,940 shares during the period. Finally, State Street Corp lifted its position in Dyne Therapeutics by 13.8% in the third quarter. State Street Corp now owns 3,641,859 shares of the company’s stock valued at $130,816,000 after buying an additional 440,890 shares during the last quarter. 96.68% of the stock is owned by institutional investors and hedge funds.

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.