Dyne Therapeutics (NASDAQ:DYN) Stock Price Up 6.1% – Time to Buy?

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s stock price shot up 6.1% during mid-day trading on Wednesday . The company traded as high as $9.78 and last traded at $9.80. 154,128 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 1,404,930 shares. The stock had previously closed at $9.23.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on DYN shares. BMO Capital Markets started coverage on shares of Dyne Therapeutics in a research report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 target price for the company. Raymond James raised Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. Scotiabank began coverage on Dyne Therapeutics in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 price objective for the company. Robert W. Baird began coverage on shares of Dyne Therapeutics in a research report on Friday, December 13th. They set an “outperform” rating and a $46.00 target price on the stock. Finally, Piper Sandler decreased their price target on shares of Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.46.

Dyne Therapeutics Price Performance

The stock has a 50 day moving average price of $13.09 and a two-hundred day moving average price of $23.06. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -2.81 and a beta of 1.11.

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

Insiders Place Their Bets

In other news, insider Oxana Beskrovnaya sold 2,598 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total value of $36,242.10. Following the transaction, the insider now owns 199,087 shares of the company’s stock, valued at approximately $2,777,263.65. This trade represents a 1.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders have sold 6,237 shares of company stock valued at $77,760. 20.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Dyne Therapeutics

Institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its stake in shares of Dyne Therapeutics by 7.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 648,652 shares of the company’s stock worth $23,300,000 after purchasing an additional 47,590 shares during the period. Quantbot Technologies LP acquired a new position in shares of Dyne Therapeutics during the 3rd quarter worth about $34,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Dyne Therapeutics by 5.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 134,334 shares of the company’s stock valued at $4,825,000 after acquiring an additional 6,784 shares during the last quarter. HighVista Strategies LLC acquired a new stake in shares of Dyne Therapeutics in the 3rd quarter valued at approximately $2,352,000. Finally, Janus Henderson Group PLC boosted its stake in Dyne Therapeutics by 47.3% during the 3rd quarter. Janus Henderson Group PLC now owns 6,813,163 shares of the company’s stock worth $244,755,000 after acquiring an additional 2,189,339 shares during the last quarter. Institutional investors and hedge funds own 96.68% of the company’s stock.

About Dyne Therapeutics

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.