Dyne Therapeutics (NASDAQ:DYN) Stock Price Up 6.9% - Here's Why

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

Analysts Set New Price Targets

A number of analysts have commented on the company. Jones Trading assumed coverage on Dyne Therapeutics in a research report on Thursday, June 26th. They set a "buy" rating and a $30.00 price target for the company. HC Wainwright lowered their price target 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. Evercore ISI reaffirmed an "outperform" rating on shares of Dyne Therapeutics in a research report on Friday. Robert W. Baird lowered their price target on Dyne Therapeutics from $46.00 to $32.00 and set an "outperform" rating for the company in a research report on Wednesday, June 18th. Finally, Raymond James Financial assumed coverage on Dyne Therapeutics in a research report on Wednesday, June 11th. They set an "outperform" rating and a $37.00 price target for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $41.13.

Dyne Therapeutics Stock Performance

The company has a 50 day moving average of $11.38 and a two-hundred day moving average of $12.74. The stock has a market cap of $982.11 million, a PE ratio of -2.41 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) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.17). As a group, equities research analysts anticipate that Dyne Therapeutics, Inc. will post -3.44 EPS for the current year.

Hedge Funds Weigh In On Dyne Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of DYN. Caitong International Asset Management Co. Ltd boosted its holdings in 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 buying an additional 2,446 shares during the last quarter. Quarry LP acquired a new stake in Dyne Therapeutics in the 1st quarter worth about $47,000. GF Fund Management CO. LTD. acquired a new stake in Dyne Therapeutics in the 4th quarter worth about $50,000. E Fund Management Co. Ltd. boosted its holdings in Dyne Therapeutics by 16.2% in the 1st quarter. E Fund Management Co. Ltd. now owns 13,771 shares of the company's stock worth $144,000 after buying an additional 1,923 shares during the last quarter. Finally, Optimize Financial Inc acquired a new stake in Dyne Therapeutics in the 1st quarter worth about $154,000. Hedge funds and other institutional investors own 96.68% of the company's stock.

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.