Dyne Therapeutics (NASDAQ:DYN) Stock Price Up 7% – Here’s What Happened

Dyne Therapeutics, Inc. (NASDAQ:DYN) shot up 7% on Thursday . The stock traded as high as $16.70 and last traded at $16.77. 957,536 shares changed hands during mid-day trading, a decline of 64% from the average session volume of 2,685,010 shares. The stock had previously closed at $15.68.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DYN. JPMorgan Chase & Co. cut shares of Dyne Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $43.00 to $35.00 in a research report on Thursday, October 24th. HC Wainwright reiterated a “buy” rating and set a $55.00 target price on shares of Dyne Therapeutics in a report on Friday, January 10th. Robert W. Baird assumed coverage on shares of Dyne Therapeutics in a research note on Friday, December 13th. They issued an “outperform” rating and a $46.00 price target for the company. Baird R W upgraded Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. Finally, Raymond James raised Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Dyne Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.91.

Dyne Therapeutics Trading Down 8.3 %

The firm’s fifty day moving average price is $20.94 and its 200-day moving average price is $30.75. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of -4.32 and a beta of 1.11.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.25). On average, sell-side analysts expect that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current year.

Insiders Place Their Bets

In other Dyne Therapeutics news, SVP Richard William Scalzo sold 1,455 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $28.12, for a total value of $40,914.60. Following the transaction, the senior vice president now directly owns 127,078 shares of the company’s stock, valued at approximately $3,573,433.36. The trade was a 1.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Oxana Beskrovnaya sold 2,334 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $28.12, for a total transaction of $65,632.08. Following the transaction, the insider now owns 201,685 shares in the company, valued at approximately $5,671,382.20. This trade represents a 1.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,071 shares of company stock valued at $606,476 over the last quarter. Company insiders own 20.77% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in DYN. Quantbot Technologies LP acquired a new stake in shares of Dyne Therapeutics during the 3rd quarter valued at approximately $34,000. Point72 DIFC Ltd acquired a new position in shares of Dyne Therapeutics during the 3rd quarter worth $36,000. US Bancorp DE boosted its position in shares of Dyne Therapeutics by 776.9% in the 3rd quarter. US Bancorp DE now owns 1,368 shares of the company’s stock worth $49,000 after buying an additional 1,212 shares in the last quarter. Values First Advisors Inc. acquired a new stake in Dyne Therapeutics in the 3rd quarter valued at about $62,000. Finally, KBC Group NV increased its holdings in Dyne Therapeutics by 45.3% during the 4th quarter. KBC Group NV now owns 3,135 shares of the company’s stock valued at $74,000 after acquiring an additional 978 shares in 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.