Dyne Therapeutics, Inc. (NASDAQ:DYN) Short Interest Update

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) saw a significant increase in short interest in 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 daily trading volume, of 2,440,000 shares, the days-to-cover ratio is currently 9.5 days. Approximately 28.8% of the shares of the company are short sold.

Institutional Investors Weigh In On Dyne Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its stake in shares of Dyne Therapeutics by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 234,798 shares of the company's stock valued at $5,532,000 after purchasing an additional 698 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in shares of Dyne Therapeutics by 9.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,627 shares of the company's stock valued at $203,000 after purchasing an additional 721 shares during the last quarter. KBC Group NV lifted its stake in shares of Dyne Therapeutics by 45.3% in the 4th quarter. KBC Group NV now owns 3,135 shares of the company's stock valued at $74,000 after purchasing an additional 978 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in shares of Dyne Therapeutics by 5.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 22,690 shares of the company's stock valued at $237,000 after purchasing an additional 1,115 shares during the last quarter. Finally, E Fund Management Co. Ltd. lifted its stake in shares of Dyne Therapeutics by 11.8% in the 4th quarter. E Fund Management Co. Ltd. now owns 11,848 shares of the company's stock valued at $279,000 after purchasing an additional 1,249 shares during the last quarter. 96.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Piper Sandler reduced their price target on shares of Dyne Therapeutics from $53.00 to $48.00 and set an "overweight" rating for the company in a research report on Friday, February 28th. 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 research report on Friday, May 9th. Scotiabank started coverage on Dyne Therapeutics in a research report on Friday, March 7th. They set a "sector outperform" rating and a $50.00 price target on the stock. Chardan Capital reissued a "buy" rating and set a $50.00 price objective on shares of Dyne Therapeutics in a research report on Friday, May 9th. Finally, Evercore ISI assumed coverage on Dyne Therapeutics in a research report on Thursday, May 29th. They set an "outperform" rating and a $46.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.54.

Dyne Therapeutics Stock Up 4.5%

NASDAQ:DYN traded up $0.57 on Tuesday, reaching $13.27. 1,752,492 shares of the company's stock traded hands, compared to its average volume of 1,635,159. The stock has a 50-day simple moving average of $10.33 and a 200-day simple moving average of $16.00. Dyne Therapeutics has a 12 month low of $6.36 and a 12 month high of $47.45. The firm has a market cap of $1.51 billion, a PE ratio of -3.73 and a beta of 1.19.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.17). On average, equities analysts anticipate 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.