Dyne Therapeutics (NASDAQ:DYN) Trading 3.8% Higher – Here’s What Happened

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s share price traded up 3.8% on Tuesday . The stock traded as high as $12.81 and last traded at $12.78. 653,044 shares traded hands during mid-day trading, a decline of 51% from the average session volume of 1,332,165 shares. The stock had previously closed at $12.31.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. BMO Capital Markets assumed coverage on Dyne Therapeutics in a report on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and set a $46.00 price objective on shares of Dyne Therapeutics in a research note on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Dyne Therapeutics in a research note on Tuesday, January 14th. Chardan Capital reaffirmed a “buy” rating and set a $50.00 price objective on shares of Dyne Therapeutics in a research note on Monday. Finally, Raymond James raised Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.85.

Dyne Therapeutics Price Performance

The company has a market cap of $1.40 billion, a price-to-earnings ratio of -3.48 and a beta of 1.11. The business’s 50-day simple moving average is $13.89 and its 200-day simple moving average is $24.58.

Dyne Therapeutics (NASDAQ:DYN) last announced its earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.04. As a group, sell-side analysts forecast that Dyne Therapeutics, Inc. will post -3.44 EPS for the current year.

Insider Activity

In other news, insider Oxana Beskrovnaya sold 2,598 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total value of $36,242.10. Following the completion of the transaction, the insider now owns 199,087 shares of the company’s stock, valued at $2,777,263.65. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold a total of 6,237 shares of company stock valued at $77,760 over the last 90 days. Insiders own 20.77% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

Institutional investors have recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in Dyne Therapeutics during the third quarter worth approximately $34,000. Point72 DIFC Ltd acquired a new position in Dyne Therapeutics during the third quarter worth approximately $36,000. GF Fund Management CO. LTD. acquired a new position in Dyne Therapeutics during the fourth quarter worth approximately $50,000. KBC Group NV increased its position in Dyne Therapeutics by 53.4% during the third quarter. KBC Group NV now owns 2,157 shares of the company’s stock worth $77,000 after purchasing an additional 751 shares during the last quarter. Finally, Quest Partners LLC increased its position in Dyne Therapeutics by 898.3% during the third quarter. Quest Partners LLC now owns 3,434 shares of the company’s stock worth $123,000 after purchasing an additional 3,090 shares during the last quarter. 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.