Dyne Therapeutics (NASDAQ:DYN) Trading 6.1% Higher – What’s Next?

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s stock price shot up 6.1% on Wednesday . The company traded as high as $9.78 and last traded at $9.80. Approximately 154,128 shares were traded during trading, a decline of 89% from the average session volume of 1,404,930 shares. The stock had previously closed at $9.23.

Analyst Ratings Changes

DYN has been the subject of several research reports. BMO Capital Markets started coverage on shares of Dyne Therapeutics in a report on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 price target for the company. Robert W. Baird assumed coverage on shares of Dyne Therapeutics in a report on Friday, December 13th. They issued an “outperform” rating and a $46.00 target price on the stock. Chardan Capital reaffirmed a “buy” rating and set a $50.00 target price on shares of Dyne Therapeutics in a report on Monday, March 17th. Raymond James upgraded Dyne Therapeutics to a “strong-buy” rating in a research report on Thursday, December 12th. Finally, Scotiabank started coverage on shares of Dyne Therapeutics in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 price objective on the stock. One equities 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 issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $47.46.

Dyne Therapeutics Price Performance

The firm has a market cap of $1.13 billion, a price-to-earnings ratio of -2.81 and a beta of 1.11. The stock’s fifty day moving average price is $13.09 and its 200-day moving average price is $23.06.

Dyne Therapeutics (NASDAQ:DYN) last released its earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.04. As a group, equities research analysts predict that Dyne Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

Insider Buying and Selling at Dyne Therapeutics

In other news, insider Oxana Beskrovnaya sold 2,598 shares of Dyne Therapeutics stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $13.95, for a total transaction of $36,242.10. Following the completion of the sale, the insider now directly owns 199,087 shares in the company, valued at $2,777,263.65. The trade was a 1.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders have sold 6,237 shares of company stock worth $77,760. 20.77% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DYN. Quantbot Technologies LP bought a new position in shares of Dyne Therapeutics during the 3rd quarter valued at $34,000. Point72 DIFC Ltd acquired a new stake in shares of Dyne Therapeutics in the third quarter worth about $36,000. GF Fund Management CO. LTD. bought a new stake in shares of Dyne Therapeutics during the 4th quarter worth about $50,000. KBC Group NV raised its stake in shares of Dyne Therapeutics by 45.3% in the 4th quarter. KBC Group NV now owns 3,135 shares of the company’s stock valued at $74,000 after acquiring an additional 978 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its holdings in Dyne Therapeutics by 9.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,627 shares of the company’s stock worth $203,000 after purchasing an additional 721 shares during the last quarter. 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.