Dyne Therapeutics (NASDAQ:DYN) Trading Up 10.8% - Here's Why

Key Points

• Dyne Therapeutics' stock experienced a significant increase of 10.8%, reaching a last trading price of $14.02, despite a decline in trading volume by 87% compared to the average.
• Following recent analyst activity, Dyne Therapeutics has a consensus rating of "Moderate Buy" with a price target averaging $34.07, though some firms have adjusted their price targets downwards.
• The company reported a quarterly earnings per share of ($0.97), surpassing analyst expectations, and anticipates posting earnings per share of ($3.44) for the current fiscal year.

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) traded up 10.8% during mid-day trading on Tuesday . The company traded as high as $13.31 and last traded at $14.02. 331,455 shares were traded during trading, a decline of 87% from the average session volume of 2,593,632 shares. The stock had previously closed at $12.65.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DYN. Robert W. Baird decreased their price objective on Dyne Therapeutics from $46.00 to $32.00 and set an "outperform" rating on the stock in a report on Wednesday, June 18th. Evercore ISI reaffirmed an "outperform" rating on shares of Dyne Therapeutics in a report on Friday, July 11th. Sanford C. Bernstein began coverage on Dyne Therapeutics in a research note on Tuesday, June 24th. They set a "market perform" rating and a $13.00 price target for the company. Guggenheim reaffirmed a "buy" rating and issued a $50.00 price objective on shares of Dyne Therapeutics in a report on Wednesday, June 18th. Finally, Raymond James Financial raised shares of Dyne Therapeutics from an "outperform" rating to a "strong-buy" rating and increased their price target for the company from $31.00 to $35.00 in a research report on Monday, August 25th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $34.07.

Dyne Therapeutics Price Performance

The firm has a 50 day simple moving average of $12.47 and a 200-day simple moving average of $11.19. The company has a market cap of $1.97 billion, a PE ratio of -3.60 and a beta of 1.09. The company has a quick ratio of 16.83, a current ratio of 16.83 and a debt-to-equity ratio of 0.17.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The company reported ($0.97) earnings per share for the quarter, beating analysts' consensus estimates of ($0.99) by $0.02. As a group, research analysts predict that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO John Cox sold 2,640 shares of the business's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $13.41, for a total value of $35,402.40. Following the completion of the sale, the chief executive officer directly owned 199,539 shares of the company's stock, valued at $2,675,817.99. The trade was a 1.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 20.77% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. CWM LLC raised its holdings in shares of Dyne Therapeutics by 168.1% in the 2nd quarter. CWM LLC now owns 3,030 shares of the company's stock worth $29,000 after purchasing an additional 1,900 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in shares of Dyne Therapeutics by 378.6% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,092 shares of the company's stock valued at $32,000 after purchasing an additional 2,446 shares in the last quarter. Quarry LP acquired a new stake in Dyne Therapeutics during the 1st quarter worth about $47,000. Ameritas Investment Partners Inc. lifted its position in shares of Dyne Therapeutics by 11.1% in the second quarter. Ameritas Investment Partners Inc. now owns 9,582 shares of the company's stock worth $91,000 after purchasing an additional 955 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its position in Dyne Therapeutics by 275.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 10,495 shares of the company's stock worth $100,000 after purchasing an additional 7,697 shares during the last quarter. 96.68% of the stock is currently owned by hedge funds and other 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.

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