Dyne Therapeutics (NASDAQ:DYN) Shares Gap Up Following Insider Buying Activity

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s share price gapped up prior to trading on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $8.28, but opened at $8.97. Dyne Therapeutics shares last traded at $8.81, with a volume of 580,529 shares trading hands.

Specifically, CEO John Cox acquired 100,000 shares of the stock in a transaction dated Monday, July 14th. The stock was acquired at an average cost of $9.11 per share, with a total value of $911,000.00. Following the transaction, the chief executive officer owned 242,179 shares in the company, valued at $2,206,250.69. The trade was a 70.33% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on DYN shares. Sanford C. Bernstein started coverage on Dyne Therapeutics in a research report on Tuesday, June 24th. They set a “market perform” rating and a $13.00 target price on the stock. Jones Trading started coverage on shares of Dyne Therapeutics in a research note on Thursday, June 26th. They issued a “buy” rating and a $30.00 price target on the stock. Guggenheim reissued a “buy” rating and set a $50.00 price objective on shares of Dyne Therapeutics in a report on Wednesday, June 18th. Robert W. Baird lowered their target price on shares of Dyne Therapeutics from $46.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, June 18th. Finally, Chardan Capital reaffirmed a “buy” rating and issued a $50.00 target price on shares of Dyne Therapeutics in a research report on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.63.

Dyne Therapeutics Stock Performance

The stock has a market cap of $1.06 billion, a PE ratio of -2.60 and a beta of 1.08. The firm’s 50-day moving average is $11.28 and its 200 day moving average is $12.50.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($1.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.17). On average, sell-side analysts predict that Dyne Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Dyne Therapeutics

Several institutional investors have recently added to or reduced their stakes in DYN. GF Fund Management CO. LTD. acquired a new stake in Dyne Therapeutics during the 4th quarter worth approximately $50,000. GAMMA Investing LLC increased its holdings in shares of Dyne Therapeutics by 837.5% in the first quarter. GAMMA Investing LLC now owns 2,625 shares of the company’s stock valued at $251,000 after purchasing an additional 2,345 shares during the period. Caitong International Asset Management Co. Ltd raised its stake in shares of Dyne Therapeutics by 378.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 3,092 shares of the company’s stock worth $32,000 after purchasing an additional 2,446 shares during the last quarter. Quarry LP acquired a new stake in shares of Dyne Therapeutics during the first quarter worth $47,000. Finally, Summit Investment Advisors Inc. lifted its holdings in shares of Dyne Therapeutics by 9.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,627 shares of the company’s stock worth $203,000 after purchasing an additional 721 shares during the period. 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.