Dyne Therapeutics (NASDAQ:DYN) Stock Price Up 6.9% - Still a Buy?

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) shares traded up 6.9% during mid-day trading on Wednesday . The company traded as high as $8.83 and last traded at $8.97. 1,045,880 shares were traded during trading, a decline of 43% from the average session volume of 1,844,138 shares. The stock had previously closed at $8.39.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DYN. Chardan Capital restated a "buy" rating and issued a $50.00 target price on shares of Dyne Therapeutics in a research note on Tuesday, June 17th. Robert W. Baird lowered their target price on Dyne Therapeutics from $46.00 to $32.00 and set an "outperform" rating for the company in a research note on Wednesday, June 18th. Guggenheim reiterated a "buy" rating and issued a $50.00 price target on shares of Dyne Therapeutics in a research note on Wednesday, June 18th. BMO Capital Markets started coverage on Dyne Therapeutics in a research note on Wednesday, March 12th. They set an "outperform" rating and a $50.00 price objective for the company. Finally, Jones Trading assumed coverage on Dyne Therapeutics in a report on Thursday, June 26th. They set a "buy" rating and a $30.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $41.13.

Dyne Therapeutics Stock Performance

The firm has a market cap of $1.00 billion, a P/E ratio of -2.45 and a beta of 1.08. The firm has a fifty day moving average of $11.44 and a 200-day moving average of $12.92.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.17). Equities research analysts expect that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current year.

Institutional Trading of Dyne Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd grew its stake in shares of Dyne Therapeutics by 378.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,092 shares of the company's stock worth $32,000 after purchasing an additional 2,446 shares during the last quarter. Quarry LP bought a new position in shares of Dyne Therapeutics in the first quarter valued at $47,000. GF Fund Management CO. LTD. bought a new position in shares of Dyne Therapeutics in the fourth quarter valued at $50,000. E Fund Management Co. Ltd. lifted its position in shares of Dyne Therapeutics by 16.2% during the 1st quarter. E Fund Management Co. Ltd. now owns 13,771 shares of the company's stock valued at $144,000 after acquiring an additional 1,923 shares during the last quarter. Finally, Optimize Financial Inc bought a new stake in shares of Dyne Therapeutics during the 1st quarter worth $154,000. 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.