Dyne Therapeutics (NASDAQ:DYN) Stock Price Up 11.2% – Here’s What Happened

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s stock price traded up 11.2% during trading on Monday . The company traded as high as $16.58 and last traded at $16.52. 551,300 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 1,989,365 shares. The stock had previously closed at $14.86.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating on shares of Dyne Therapeutics in a research note on Monday. Robert W. Baird set a $30.00 price target on Dyne Therapeutics in a research report on Monday, December 8th. HC Wainwright dropped their price target on Dyne Therapeutics from $60.00 to $50.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Chardan Capital reissued a “buy” rating and issued a $38.00 price objective on shares of Dyne Therapeutics in a research note on Monday, March 2nd. Finally, TD Cowen restated a “buy” rating on shares of Dyne Therapeutics in a research note on Monday, December 8th. Three research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $36.13.

Dyne Therapeutics Price Performance

The stock has a 50-day simple moving average of $17.05 and a 200 day simple moving average of $17.12. The stock has a market capitalization of $2.83 billion, a P/E ratio of -4.84 and a beta of 1.34. The company has a debt-to-equity ratio of 0.15, a quick ratio of 22.25 and a current ratio of 22.25.

Dyne Therapeutics (NASDAQ:DYN) last released its earnings results on Monday, March 2nd. The company reported ($0.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.02). On average, equities analysts forecast that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Darwin Wealth Management LLC grew its position in shares of Dyne Therapeutics by 0.5% during the 3rd quarter. Darwin Wealth Management LLC now owns 173,517 shares of the company’s stock worth $2,195,000 after buying an additional 861 shares during the period. Ameritas Investment Partners Inc. boosted its stake in Dyne Therapeutics by 11.1% in the second quarter. Ameritas Investment Partners Inc. now owns 9,582 shares of the company’s stock valued at $91,000 after acquiring an additional 955 shares during the last quarter. Creative Planning grew its holdings in Dyne Therapeutics by 6.8% during the 3rd quarter. Creative Planning now owns 15,527 shares of the company’s stock worth $196,000 after acquiring an additional 986 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Dyne Therapeutics by 25.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,500 shares of the company’s stock valued at $70,000 after acquiring an additional 1,109 shares during the last quarter. Finally, Caxton Associates LLP lifted its stake in shares of Dyne Therapeutics by 10.9% in the 2nd quarter. Caxton Associates LLP now owns 16,599 shares of the company’s stock valued at $158,000 after purchasing an additional 1,627 shares during the period. Institutional investors own 96.68% of the company’s stock.

About Dyne Therapeutics

Dyne Therapeutics is a clinical-stage biotechnology company specializing in the development of localized gene regulation therapies for serious rare diseases. The company’s proprietary FORCE (Facilitated Orthogonal Receptor‐mediated Cargo Evaluation) platform is designed to enable targeted delivery of oligonucleotide and gene therapy modalities to skeletal and respiratory muscles. Dyne’s lead programs focus on Duchenne muscular dystrophy (DMD), myotonic dystrophy type 1 (DM1) and facioscapulohumeral muscular dystrophy (FSHD), with preclinical and early clinical studies evaluating safety, tolerability and tissue specificity.

Since its founding in 2019 by Flagship Pioneering, Dyne has advanced multiple product candidates using its modular delivery approach, which couples engineered ligands with therapeutic payloads to improve uptake into muscle cells.