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

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) shares 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 purchased 100,000 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was bought at an average cost of $9.11 per share, with a total value of $911,000.00. Following the transaction, the chief executive officer directly owned 242,179 shares in the company, valued at approximately $2,206,250.69. The trade was a 70.33% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

DYN has been the subject of a number of recent research reports. Raymond James Financial initiated coverage on shares of Dyne Therapeutics in a research report on Wednesday, June 11th. They set an "outperform" rating and a $37.00 price target for the company. Robert W. Baird lowered their price target on shares of Dyne Therapeutics from $46.00 to $32.00 and set an "outperform" rating for the company in a research report on Wednesday, June 18th. HC Wainwright lowered their price target on shares of Dyne Therapeutics from $46.00 to $38.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Guggenheim reissued a "buy" rating and set a $50.00 price target on shares of Dyne Therapeutics in a research report on Wednesday, June 18th. Finally, Chardan Capital reissued a "buy" rating and set a $50.00 price target on shares of Dyne Therapeutics in a research report on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $40.63.

Dyne Therapeutics Price Performance

The business's 50 day moving average price is $11.24 and its 200 day moving average price is $12.40. The stock has a market capitalization of $1.03 billion, a P/E ratio of -2.53 and a beta of 1.08.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported ($1.05) EPS for the quarter, missing analysts' consensus estimates of ($0.88) by ($0.17). As a group, analysts forecast that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current fiscal year.

Institutional Trading of Dyne Therapeutics

A number of large investors have recently made changes to their positions in DYN. Raymond James Financial Inc. bought a new stake in Dyne Therapeutics during the fourth quarter valued at approximately $2,340,000. Schroder Investment Management Group grew its position in Dyne Therapeutics by 63.3% during the fourth quarter. Schroder Investment Management Group now owns 147,002 shares of the company's stock valued at $3,477,000 after buying an additional 56,961 shares during the period. Rhumbline Advisers grew its position in Dyne Therapeutics by 4.2% during the first quarter. Rhumbline Advisers now owns 133,627 shares of the company's stock valued at $1,398,000 after buying an additional 5,383 shares during the period. Wells Fargo & Company MN grew its position in Dyne Therapeutics by 54.5% during the fourth quarter. Wells Fargo & Company MN now owns 38,754 shares of the company's stock valued at $913,000 after buying an additional 13,677 shares during the period. Finally, Swiss National Bank grew its position in Dyne Therapeutics by 3.3% during the fourth quarter. Swiss National Bank now owns 108,600 shares of the company's stock valued at $2,559,000 after buying an additional 3,500 shares during the period. 96.68% of the stock is currently owned by institutional investors.

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.