Dyne Therapeutics (NASDAQ:DYN) Shares Up 3.9% - Here's What Happened

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) shot up 3.9% during mid-day trading on Tuesday . The stock traded as high as $11.65 and last traded at $11.72. 309,715 shares changed hands during trading, a decline of 80% from the average session volume of 1,531,865 shares. The stock had previously closed at $11.28.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. BMO Capital Markets started coverage on shares of Dyne Therapeutics in a research note on Wednesday, March 12th. They set an "outperform" rating and a $50.00 price objective on the stock. HC Wainwright restated a "buy" rating and set a $46.00 price target on shares of Dyne Therapeutics in a research report on Monday, March 17th. Royal Bank of Canada reiterated an "outperform" rating and issued a $45.00 price objective on shares of Dyne Therapeutics in a research report on Tuesday, January 14th. Scotiabank initiated coverage on Dyne Therapeutics in a report on Friday, March 7th. They set a "sector outperform" rating and a $50.00 target price on the stock. Finally, Piper Sandler lowered their target price on Dyne Therapeutics from $53.00 to $48.00 and set an "overweight" rating for the company in a research note on Friday, February 28th. One equities 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 assigned a strong buy rating to the company. According to data from MarketBeat, Dyne Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $47.46.

Dyne Therapeutics Price Performance

The business has a 50 day moving average of $10.74 and a 200 day moving average of $19.38. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -3.32 and a beta of 1.21.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last posted its earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.04. As a group, equities analysts predict that Dyne Therapeutics, Inc. will post -3.44 EPS for the current year.

Insider Transactions at Dyne Therapeutics

In related news, insider Oxana Beskrovnaya sold 2,598 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $13.95, for a total value of $36,242.10. Following the completion of the transaction, the insider now directly owns 199,087 shares in the company, valued at approximately $2,777,263.65. The trade was a 1.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 6,237 shares of company stock valued at $77,760 over the last 90 days. 20.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in DYN. GF Fund Management CO. LTD. acquired a new position in Dyne Therapeutics in the 4th quarter worth $50,000. GAMMA Investing LLC grew its holdings in shares of Dyne Therapeutics by 837.5% during the first quarter. GAMMA Investing LLC now owns 2,625 shares of the company's stock worth $251,000 after buying an additional 2,345 shares in the last quarter. KBC Group NV grew its holdings in shares of Dyne Therapeutics by 45.3% during the fourth quarter. KBC Group NV now owns 3,135 shares of the company's stock worth $74,000 after buying an additional 978 shares in the last quarter. Summit Investment Advisors Inc. raised its position in 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 buying an additional 721 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in Dyne Therapeutics in the 4th quarter valued at approximately $205,000. 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.

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