Dyne Therapeutics (NASDAQ:DYN) Shares Up 5.4% – Still a Buy?

Dyne Therapeutics, Inc. (NASDAQ:DYN) shares traded up 5.4% during mid-day trading on Thursday . The company traded as high as $11.97 and last traded at $11.87. 871,901 shares traded hands during mid-day trading, a decline of 59% from the average session volume of 2,122,307 shares. The stock had previously closed at $11.26.

Analysts Set New Price Targets

A number of analysts have recently commented on DYN shares. Piper Sandler dropped their target price on shares of Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Guggenheim restated a “buy” rating on shares of Dyne Therapeutics in a report on Friday, January 24th. Scotiabank assumed coverage on shares of Dyne Therapeutics in a report on Friday, March 7th. They set a “sector outperform” rating and a $50.00 target price for the company. BMO Capital Markets began coverage on Dyne Therapeutics in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 price target on the stock. Finally, Chardan Capital reiterated a “buy” rating and set a $50.00 price objective on shares of Dyne Therapeutics in a research note on Monday, March 17th. One research 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $47.46.

Dyne Therapeutics Stock Down 3.0 %

The company has a market cap of $1.30 billion, a PE ratio of -3.22 and a beta of 1.11. The company’s fifty day moving average is $13.27 and its 200-day moving average is $23.52.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings data on Tuesday, March 4th. The company reported ($0.88) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.04. Equities research analysts expect that Dyne Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

Insider Activity

In other news, insider Oxana Beskrovnaya sold 2,598 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total transaction of $36,242.10. Following the completion of the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 6,237 shares of company stock valued at $77,760 in the last quarter. 20.77% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC raised its stake in shares of Dyne Therapeutics by 69.7% in the third quarter. FMR LLC now owns 9,026,697 shares of the company’s stock worth $324,239,000 after buying an additional 3,707,734 shares during the period. Janus Henderson Group PLC lifted its holdings in Dyne Therapeutics by 47.3% during the third quarter. Janus Henderson Group PLC now owns 6,813,163 shares of the company’s stock valued at $244,755,000 after purchasing an additional 2,189,339 shares in the last quarter. Jefferies Financial Group Inc. bought a new position in shares of Dyne Therapeutics in the fourth quarter worth approximately $42,408,000. Norges Bank purchased a new stake in shares of Dyne Therapeutics in the fourth quarter worth $22,384,000. Finally, Point72 Asset Management L.P. boosted its stake in shares of Dyne Therapeutics by 802.3% in the fourth quarter. Point72 Asset Management L.P. now owns 924,681 shares of the company’s stock worth $21,785,000 after acquiring an additional 822,201 shares during the period. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

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.