Dyne Therapeutics, Inc. (NASDAQ:DYN) Short Interest Down 6.9% in August

Dyne Therapeutics, Inc. (NASDAQ:DYN) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 6,870,000 shares, a decline of 6.9% from the August 15th total of 7,380,000 shares. Based on an average trading volume of 1,280,000 shares, the days-to-cover ratio is currently 5.4 days.

Insider Transactions at Dyne Therapeutics

In related news, COO Susanna Gatti High sold 10,163 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $35.33, for a total transaction of $359,058.79. Following the completion of the sale, the chief operating officer now directly owns 148,792 shares in the company, valued at approximately $5,256,821.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Dyne Therapeutics news, COO Susanna Gatti High sold 10,163 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $35.33, for a total transaction of $359,058.79. Following the transaction, the chief operating officer now directly owns 148,792 shares of the company’s stock, valued at approximately $5,256,821.36. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO John Cox purchased 32,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average price of $33.04 per share, for a total transaction of $1,057,280.00. Following the completion of the transaction, the chief executive officer now directly owns 8,000 shares of the company’s stock, valued at $264,320. The disclosure for this purchase can be found here. Company insiders own 20.77% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Trexquant Investment LP purchased a new position in Dyne Therapeutics during the 4th quarter worth approximately $304,000. Rafferty Asset Management LLC grew its stake in Dyne Therapeutics by 17.7% in the 4th quarter. Rafferty Asset Management LLC now owns 164,041 shares of the company’s stock valued at $2,182,000 after acquiring an additional 24,632 shares during the last quarter. Commodore Capital LP purchased a new position in shares of Dyne Therapeutics during the 4th quarter worth approximately $11,970,000. Frazier Life Sciences Management L.P. purchased a new position in Dyne Therapeutics during the fourth quarter worth $15,758,000. Finally, Octagon Capital Advisors LP raised its stake in Dyne Therapeutics by 14.4% in the 4th quarter. Octagon Capital Advisors LP now owns 792,945 shares of the company’s stock valued at $10,546,000 after purchasing an additional 100,000 shares during the last quarter. Hedge funds and other institutional investors own 96.68% of the company’s stock.

Dyne Therapeutics Trading Down 0.8 %

Shares of Dyne Therapeutics stock opened at $34.34 on Thursday. Dyne Therapeutics has a twelve month low of $6.40 and a twelve month high of $47.45. The firm’s 50-day moving average price is $41.38 and its 200 day moving average price is $33.47. The firm has a market capitalization of $3.00 billion, a PE ratio of -8.65 and a beta of 1.07.

Dyne Therapeutics (NASDAQ:DYN) last posted 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 will post -2.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on DYN. Stifel Nicolaus raised their target price on shares of Dyne Therapeutics from $41.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, August 16th. StockNews.com downgraded shares of Dyne Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday. Piper Sandler boosted their price target on Dyne Therapeutics from $43.00 to $53.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Guggenheim raised their price objective on Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, Morgan Stanley upped their price target on shares of Dyne Therapeutics from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.40.

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.