Dyne Therapeutics (NASDAQ:DYN) Trading 3.3% Higher – Here’s What Happened

Dyne Therapeutics, Inc. (NASDAQ:DYN) shares shot up 3.3% during mid-day trading on Tuesday . The company traded as high as $32.82 and last traded at $32.72. 269,604 shares were traded during mid-day trading, a decline of 83% from the average session volume of 1,569,448 shares. The stock had previously closed at $31.68.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DYN shares. Guggenheim upped their target price on Dyne Therapeutics from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Oppenheimer reaffirmed an “outperform” rating and set a $55.00 target price on shares of Dyne Therapeutics in a report on Tuesday, September 3rd. JPMorgan Chase & Co. upped their price target on shares of Dyne Therapeutics from $39.00 to $43.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $53.00 price objective on shares of Dyne Therapeutics in a research note on Monday, September 23rd. Finally, HC Wainwright reissued a “buy” rating and set a $55.00 target price on shares of Dyne Therapeutics in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.40.

Dyne Therapeutics Stock Up 5.1 %

The company’s fifty day moving average is $39.12 and its 200 day moving average is $34.20. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of -7.98 and a beta of 1.05.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings results on Monday, August 12th. The company reported ($0.70) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.02. On average, equities research analysts forecast that Dyne Therapeutics, Inc. will post -2.96 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Dirk Kersten sold 2,357 shares of the company’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $35.06, for a total transaction of $82,636.42. Following the completion of the sale, the director now directly owns 190,939 shares in the company, valued at approximately $6,694,321.34. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Dirk Kersten sold 2,357 shares of the company’s stock in a transaction that occurred on Wednesday, September 25th. The shares were sold at an average price of $35.06, for a total transaction of $82,636.42. Following the completion of the sale, the director now owns 190,939 shares of the company’s stock, valued at approximately $6,694,321.34. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Richard William Scalzo sold 1,390 shares of the company’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $34.55, for a total value of $48,024.50. Following the sale, the senior vice president now owns 98,568 shares of the company’s stock, valued at $3,405,524.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 135,304 shares of company stock valued at $4,857,019. 20.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dyne Therapeutics

Several hedge funds have recently modified their holdings of DYN. Nisa Investment Advisors LLC grew its holdings in Dyne Therapeutics by 904.1% during the 2nd quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock worth $26,000 after acquiring an additional 669 shares during the last quarter. Amalgamated Bank increased its holdings in Dyne Therapeutics by 39.9% in the second quarter. Amalgamated Bank now owns 2,792 shares of the company’s stock valued at $99,000 after purchasing an additional 796 shares during the period. Ameritas Investment Partners Inc. raised its position in Dyne Therapeutics by 28.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,896 shares of the company’s stock worth $167,000 after purchasing an additional 1,291 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new position in Dyne Therapeutics during the 2nd quarter worth about $203,000. Finally, Farallon Capital Management LLC bought a new stake in shares of Dyne Therapeutics in the 2nd quarter valued at about $212,000. Institutional investors and hedge funds own 96.68% of the company’s stock.

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.