Dyne Therapeutics (NASDAQ:DYN) Stock Price Up 7.2% - Here's Why

Key Points

• Dyne Therapeutics (NASDAQ:DYN) shares increased by 7.2%, closing at $9.90, following a trading day where nearly 1.9 million shares were exchanged, down 25% from the average volume.
• Analyst ratings show a consensus of Moderate Buy for Dyne Therapeutics, with a price target range significantly lower than previous estimates, varying from $9.00 to $40.63.
• CEO John Cox increased his holdings by purchasing 100,000 shares at an average price of $9.11, marking a 70% increase in his stake.

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) shares rose 7.2% on Friday . The stock traded as high as $10.23 and last traded at $9.90. Approximately 1,914,567 shares traded hands during trading, a decline of 25% from the average daily volume of 2,557,877 shares. The stock had previously closed at $9.24.

Analyst Upgrades and Downgrades

DYN has been the subject of several research reports. Oppenheimer assumed coverage on shares of Dyne Therapeutics in a report on Monday, June 2nd. They set an "outperform" rating and a $34.00 price objective for the company. Raymond James Financial reissued an "outperform" rating and issued a $31.00 price objective (down from $37.00) on shares of Dyne Therapeutics in a research note on Tuesday. Robert W. Baird reduced their price objective on shares of Dyne Therapeutics from $46.00 to $32.00 and set an "outperform" rating for the company in a research note on Wednesday, June 18th. Chardan Capital reduced their price objective on shares of Dyne Therapeutics from $50.00 to $38.00 and set a "buy" rating for the company in a research note on Tuesday. Finally, Jones Trading assumed coverage on shares of Dyne Therapeutics in a research note on Thursday, June 26th. They issued a "buy" rating and a $30.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $38.13.

Dyne Therapeutics Stock Down 1.2%

The company's fifty day moving average price is $10.82 and its 200-day moving average price is $11.56.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The company reported ($0.97) EPS for the quarter, topping the consensus estimate of ($0.99) by $0.02. On average, research analysts expect that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO John Cox purchased 100,000 shares of Dyne Therapeutics stock in a transaction that occurred on Monday, July 14th. The shares were bought at an average price of $9.11 per share, with a total value of $911,000.00. Following the purchase, the chief executive officer directly owned 242,179 shares of the company's stock, valued at approximately $2,206,250.69. This represents a 70.33% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 20.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in DYN. Teacher Retirement System of Texas increased its position in Dyne Therapeutics by 21.4% during the 4th quarter. Teacher Retirement System of Texas now owns 16,385 shares of the company's stock valued at $386,000 after purchasing an additional 2,883 shares during the period. KLP Kapitalforvaltning AS purchased a new position in shares of Dyne Therapeutics in the 4th quarter worth approximately $257,000. Norges Bank purchased a new position in shares of Dyne Therapeutics in the 4th quarter worth approximately $22,384,000. Pictet Asset Management Holding SA grew its position in shares of Dyne Therapeutics by 6.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 323,552 shares of the company's stock worth $7,623,000 after buying an additional 18,847 shares during the last quarter. Finally, Schroder Investment Management Group grew its position in shares of Dyne Therapeutics by 63.3% in the 4th quarter. Schroder Investment Management Group now owns 147,002 shares of the company's stock worth $3,477,000 after buying an additional 56,961 shares during the last quarter. 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.