Dyne Therapeutics (NASDAQ:DYN) Stock Price Up 4.4% – Here’s Why

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s share price rose 4.4% during mid-day trading on Friday . The company traded as high as $18.39 and last traded at $18.5840. Approximately 898,531 shares were traded during mid-day trading, a decline of 59% from the average daily volume of 2,203,674 shares. The stock had previously closed at $17.80.

Analysts Set New Price Targets

A number of equities research analysts have commented on DYN shares. Oppenheimer raised shares of Dyne Therapeutics from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $11.00 to $40.00 in a research report on Wednesday, December 10th. Tudor Pickering set a $23.00 price objective on shares of Dyne Therapeutics in a research report on Tuesday, December 9th. Wall Street Zen downgraded shares of Dyne Therapeutics from a “hold” rating to a “sell” rating in a research note on Sunday, December 28th. JPMorgan Chase & Co. cut their price target on Dyne Therapeutics from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 20th. Finally, Sanford C. Bernstein set a $23.00 price target on Dyne Therapeutics in a report on Tuesday, December 9th. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $35.14.

Dyne Therapeutics Trading Down 1.3%

The company has a market cap of $2.90 billion, a price-to-earnings ratio of -4.96 and a beta of 1.34. The company has a quick ratio of 22.25, a current ratio of 22.25 and a debt-to-equity ratio of 0.15. The business’s fifty day simple moving average is $16.96 and its two-hundred day simple moving average is $17.45.

Dyne Therapeutics (NASDAQ:DYN) last issued its earnings results on Monday, March 2nd. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.02). On average, equities analysts predict that Dyne Therapeutics, Inc. will post -3.44 EPS for the current year.

Insiders Place Their Bets

In related news, Director Brian S. Posner acquired 3,000 shares of the firm’s stock in a transaction on Friday, March 6th. The stock was bought at an average price of $15.06 per share, for a total transaction of $45,180.00. Following the completion of the purchase, the director directly owned 11,500 shares of the company’s stock, valued at approximately $173,190. The trade was a 35.29% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 14.14% of the stock is currently owned by company insiders.

Institutional Trading of Dyne Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in DYN. T. Rowe Price Investment Management Inc. grew its stake in Dyne Therapeutics by 523.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,540,089 shares of the company’s stock worth $343,085,000 after buying an additional 14,727,667 shares during the last quarter. Orbis Allan Gray Ltd acquired a new position in Dyne Therapeutics during the fourth quarter worth approximately $93,926,000. Adage Capital Partners GP L.L.C. purchased a new stake in Dyne Therapeutics in the second quarter valued at approximately $30,378,000. Perceptive Advisors LLC lifted its stake in Dyne Therapeutics by 543.7% in the fourth quarter. Perceptive Advisors LLC now owns 3,478,944 shares of the company’s stock valued at $68,048,000 after buying an additional 2,938,500 shares during the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Dyne Therapeutics by 572.9% in the third quarter. Marshall Wace LLP now owns 3,013,377 shares of the company’s stock valued at $38,119,000 after acquiring an additional 2,565,570 shares during the period. Institutional investors and hedge funds own 96.68% of the company’s stock.

Dyne Therapeutics Company Profile

Dyne Therapeutics is a clinical-stage biotechnology company specializing in the development of localized gene regulation therapies for serious rare diseases. The company’s proprietary FORCE (Facilitated Orthogonal Receptor‐mediated Cargo Evaluation) platform is designed to enable targeted delivery of oligonucleotide and gene therapy modalities to skeletal and respiratory muscles. Dyne’s lead programs focus on Duchenne muscular dystrophy (DMD), myotonic dystrophy type 1 (DM1) and facioscapulohumeral muscular dystrophy (FSHD), with preclinical and early clinical studies evaluating safety, tolerability and tissue specificity.

Since its founding in 2019 by Flagship Pioneering, Dyne has advanced multiple product candidates using its modular delivery approach, which couples engineered ligands with therapeutic payloads to improve uptake into muscle cells.