Dyne Therapeutics, Inc. (NASDAQ:DYN) Short Interest Up 56.1% in May

Dyne Therapeutics, Inc. (NASDAQ:DYN) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 23,200,000 shares, an increase of 56.1% from the April 30th total of 14,860,000 shares. Based on an average trading volume of 2,440,000 shares, the days-to-cover ratio is presently 9.5 days. Currently, 28.8% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on DYN. Scotiabank began coverage on Dyne Therapeutics in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 price objective on the stock. HC Wainwright dropped their target price on Dyne Therapeutics from $46.00 to $38.00 and set a “buy” rating for the company in a report on Friday, May 9th. Evercore ISI began coverage on Dyne Therapeutics in a report on Thursday, May 29th. They issued an “outperform” rating and a $46.00 target price for the company. Chardan Capital reiterated a “buy” rating and issued a $50.00 target price on shares of Dyne Therapeutics in a report on Friday, May 9th. Finally, BMO Capital Markets began 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. One research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Dyne Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $45.54.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd raised its position in shares of Dyne Therapeutics by 378.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,092 shares of the company’s stock worth $32,000 after acquiring an additional 2,446 shares in the last quarter. Quarry LP bought a new position in shares of Dyne Therapeutics in the 1st quarter worth $47,000. GF Fund Management CO. LTD. acquired a new position in Dyne Therapeutics during the 4th quarter valued at about $50,000. KBC Group NV increased its position 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 buying an additional 978 shares in the last quarter. Finally, E Fund Management Co. Ltd. increased its position in Dyne Therapeutics by 16.2% during the 1st quarter. E Fund Management Co. Ltd. now owns 13,771 shares of the company’s stock valued at $144,000 after buying an additional 1,923 shares in the last quarter. 96.68% of the stock is owned by institutional investors.

Dyne Therapeutics Stock Up 6.2%

Shares of NASDAQ DYN opened at $12.70 on Tuesday. The business has a fifty day simple moving average of $10.33 and a two-hundred day simple moving average of $16.00. The firm has a market cap of $1.44 billion, a PE ratio of -3.57 and a beta of 1.19. Dyne Therapeutics has a twelve month low of $6.36 and a twelve month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last issued its earnings results on Thursday, May 8th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.17). On average, research analysts expect that Dyne Therapeutics will post -3.44 earnings per share for the current year.

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.