Insider Selling: Dyne Therapeutics, Inc. (NASDAQ:DYN) Director Sells 40,831 Shares of Stock

Dyne Therapeutics, Inc. (NASDAQ:DYN) Director Dirk Kersten sold 40,831 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $35.32, for a total transaction of $1,442,150.92. Following the sale, the director now directly owns 193,296 shares of the company’s stock, valued at approximately $6,827,214.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Dirk Kersten also recently made the following trade(s):

• On Friday, September 20th, Dirk Kersten sold 79,411 shares of Dyne Therapeutics stock. The stock was sold at an average price of $36.45, for a total value of $2,894,530.95.

Dyne Therapeutics Stock Performance

Shares of NASDAQ:DYN traded down $1.23 during midday trading on Tuesday, hitting $33.40. The company’s stock had a trading volume of 1,936,244 shares, compared to its average volume of 1,608,944. The stock’s 50 day simple moving average is $40.89 and its 200 day simple moving average is $33.71. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of -8.72 and a beta of 1.07. Dyne Therapeutics, Inc. has a fifty-two week low of $6.40 and a fifty-two week high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.02. As a group, analysts anticipate that Dyne Therapeutics, Inc. will post -2.96 EPS for the current year.

Institutional Investors Weigh In On Dyne Therapeutics

Several large investors have recently made changes to their positions in DYN. Algert Global LLC boosted its stake in Dyne Therapeutics by 255.1% in the 2nd quarter. Algert Global LLC now owns 97,370 shares of the company’s stock valued at $3,436,000 after purchasing an additional 69,947 shares during the period. The Manufacturers Life Insurance Company increased its position in Dyne Therapeutics by 96.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 126,244 shares of the company’s stock valued at $4,455,000 after acquiring an additional 61,902 shares during the period. AQR Capital Management LLC lifted its stake in shares of Dyne Therapeutics by 4.3% in the second quarter. AQR Capital Management LLC now owns 8,495 shares of the company’s stock worth $300,000 after acquiring an additional 352 shares during the period. Affinity Asset Advisors LLC bought a new stake in Dyne Therapeutics during the second quarter valued at $3,529,000. Finally, First Light Asset Management LLC increased its stake in shares of Dyne Therapeutics by 261.0% in the 2nd quarter. First Light Asset Management LLC now owns 382,433 shares of the company’s stock valued at $13,496,000 after acquiring an additional 276,485 shares in the last quarter. Institutional investors own 96.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Guggenheim raised their target price on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. StockNews.com cut Dyne Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Piper Sandler restated an “overweight” rating and issued a $53.00 price target on shares of Dyne Therapeutics in a report on Monday. Oppenheimer reissued an “outperform” rating and set a $55.00 price objective on shares of Dyne Therapeutics in a report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Dyne Therapeutics from $39.00 to $43.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Dyne Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $51.40.

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.