Dyne Therapeutics (NASDAQ:DYN) Shares Up 5.7% – Here’s What Happened

Dyne Therapeutics, Inc. (NASDAQ:DYN) shares rose 5.7% during trading on Monday. The company traded as high as $14.87 and last traded at $15.0670. Approximately 252,044 shares traded hands during trading, a decline of 89% from the average daily volume of 2,307,675 shares. The stock had previously closed at $14.25.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada cut their target price on shares of Dyne Therapeutics from $35.00 to $30.00 and set an “outperform” rating for the company in a research report on Wednesday, September 9th. Piper Sandler restated an “overweight” rating and set a $47.00 price target on shares of Dyne Therapeutics in a report on Tuesday, September 29th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Dyne Therapeutics in a research note on Wednesday, September 30th. Wall Street Zen lowered Dyne Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Finally, Jefferies Financial Group reissued a “buy” rating and set a $50.00 price objective on shares of Dyne Therapeutics in a research report on Wednesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Dyne Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $33.07.

Dyne Therapeutics Trading Up 5.0%

The company has a 50 day moving average of $20.49 and a 200 day moving average of $20.40. The firm has a market cap of $2.79 billion, a P/E ratio of -4.49 and a beta of 1.12. The company has a debt-to-equity ratio of 0.28, a quick ratio of 12.02 and a current ratio of 12.02.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.33). Analysts predict that Dyne Therapeutics, Inc. will post -3.59 EPS for the current fiscal year.

Insider Buying and Selling at Dyne Therapeutics

In other Dyne Therapeutics news, Director Brian S. Posner acquired 2,500 shares of Dyne Therapeutics stock in a transaction that occurred on Friday, October 2nd. The stock was acquired at an average price of $16.00 per share, with a total value of $40,000.00. Following the purchase, the director owned 27,000 shares in the company, valued at approximately $432,000. This trade represents a 10.20% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas Kerr sold 3,745 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $24.35, for a total value of $91,190.75. Following the completion of the transaction, the insider directly owned 163,854 shares in the company, valued at $3,989,844.90. The trade was a 2.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 2,598,706 shares of company stock worth $65,432,671. Company insiders own 9.46% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DYN. BlackRock Inc. acquired a new position in Dyne Therapeutics during the 2nd quarter worth $275,500,000. Jupiter Topco LLC bought a new stake in Dyne Therapeutics during the second quarter valued at about $266,634,000. Bank of America Corp DE acquired a new stake in shares of Dyne Therapeutics in the second quarter valued at about $49,604,000. Palo Alto Investors LP acquired a new stake in shares of Dyne Therapeutics in the second quarter valued at about $36,591,441. Finally, Perceptive Advisors LLC grew its position in shares of Dyne Therapeutics by 34.2% in the first quarter. Perceptive Advisors LLC now owns 4,668,839 shares of the company’s stock valued at $84,646,000 after purchasing an additional 1,189,895 shares during the last quarter. Institutional investors own 96.68% of the company’s stock.

About Dyne Therapeutics

Dyne Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing genetic medicines for serious neuromuscular diseases. The company’s research is centered on its FORCE platform, which is designed to use targeted antibodies to deliver oligonucleotide-based therapies to skeletal muscle and other relevant tissues.

Dyne’s development programs include DYNE-101, an investigational therapy for myotonic dystrophy type 1, and DYNE-251, an investigational exon-skipping therapy for Duchenne muscular dystrophy in patients amenable to exon 51 skipping.