Dyne Therapeutics, Inc. (NASDAQ:DYN) Sees Large Increase in Short Interest

Dyne Therapeutics, Inc. (NASDAQ:DYN) was the recipient of a significant growth in short interest in the month of March. As of March 31st, there was short interest totalling 8,080,000 shares, a growth of 18.5% from the March 15th total of 6,820,000 shares. Approximately 16.2% of the company’s shares are sold short. Based on an average daily volume of 1,710,000 shares, the days-to-cover ratio is currently 4.7 days.

Dyne Therapeutics Stock Down 1.6 %

Shares of Dyne Therapeutics stock opened at $25.44 on Tuesday. The company has a market capitalization of $2.19 billion, a P/E ratio of -6.46 and a beta of 0.95. Dyne Therapeutics has a 52-week low of $6.40 and a 52-week high of $30.27. The company has a 50 day moving average of $25.85 and a 200 day moving average of $16.94.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.17). As a group, research analysts anticipate that Dyne Therapeutics will post -3.25 earnings per share for the current fiscal year.

Insider Activity at Dyne Therapeutics

In related news, insider Wildon Farwell sold 1,585 shares of the company’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $25.70, for a total value of $40,734.50. Following the completion of the sale, the insider now owns 151,590 shares of the company’s stock, valued at $3,895,863. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Dyne Therapeutics news, major shareholder Venture Fund Xi L.P. Atlas sold 162,707 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $23.14, for a total transaction of $3,765,039.98. Following the completion of the transaction, the insider now owns 6,985,504 shares of the company’s stock, valued at $161,644,562.56. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Wildon Farwell sold 1,585 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $25.70, for a total transaction of $40,734.50. Following the transaction, the insider now directly owns 151,590 shares of the company’s stock, valued at approximately $3,895,863. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,888,532 shares of company stock valued at $44,687,450. 20.77% of the stock is owned by company insiders.

Institutional Trading of Dyne Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. Ameritas Investment Partners Inc. raised its position in Dyne Therapeutics by 49.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,510 shares of the company’s stock valued at $39,000 after purchasing an additional 1,155 shares during the last quarter. Royal Bank of Canada increased its stake in Dyne Therapeutics by 72.8% in the 2nd quarter. Royal Bank of Canada now owns 5,078 shares of the company’s stock valued at $57,000 after buying an additional 2,140 shares during the period. China Universal Asset Management Co. Ltd. increased its stake in Dyne Therapeutics by 355.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,099 shares of the company’s stock valued at $94,000 after buying an additional 5,541 shares during the period. Sphera Funds Management LTD. acquired a new position in Dyne Therapeutics in the 4th quarter valued at $83,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Dyne Therapeutics by 58.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,379 shares of the company’s stock valued at $75,000 after buying an additional 3,092 shares during the period. Hedge funds and other institutional investors own 96.68% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $47.00 target price on shares of Dyne Therapeutics in a research note on Tuesday, March 26th. Stifel Nicolaus lifted their price objective on shares of Dyne Therapeutics from $35.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Piper Sandler lifted their price objective on shares of Dyne Therapeutics from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. Raymond James lifted their price objective on shares of Dyne Therapeutics from $27.00 to $56.00 and gave the company a “strong-buy” rating in a report on Thursday, January 4th. Finally, HC Wainwright restated a “buy” rating and issued a $36.00 price objective on shares of Dyne Therapeutics in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.43.

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.