Dyne Therapeutics, Inc. (NASDAQ:DYN) Sees Large Growth in Short Interest

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 8,080,000 shares, a growth of 18.5% from the March 15th total of 6,820,000 shares. Based on an average trading volume of 1,710,000 shares, the days-to-cover ratio is presently 4.7 days. Approximately 16.2% of the shares of the stock are sold short.

Dyne Therapeutics Trading Down 5.6 %

DYN stock traded down $1.53 during trading on Friday, hitting $25.85. The company had a trading volume of 652,554 shares, compared to its average volume of 1,364,964. The stock has a market cap of $2.23 billion, a PE ratio of -6.56 and a beta of 0.95. The business has a 50-day moving average of $25.78 and a 200-day moving average of $16.82. Dyne Therapeutics has a one year low of $6.40 and a one year high of $30.27.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($1.09) EPS for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.17). Research analysts forecast that Dyne Therapeutics will post -3.25 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on DYN shares. HC Wainwright reiterated a "buy" rating and issued a $36.00 price target on shares of Dyne Therapeutics in a research note on Wednesday, March 6th. Raymond James boosted their price target on Dyne Therapeutics from $27.00 to $56.00 and gave the stock a "strong-buy" rating in a report on Thursday, January 4th. Oppenheimer reiterated an "outperform" rating and issued a $47.00 price objective on shares of Dyne Therapeutics in a report on Tuesday, March 26th. Piper Sandler boosted their target price on shares of Dyne Therapeutics from $27.00 to $29.00 and gave the stock an "overweight" rating in a report on Wednesday, March 6th. Finally, Stifel Nicolaus upped their price target on shares of Dyne Therapeutics from $35.00 to $41.00 and gave the company a "buy" rating in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Dyne Therapeutics currently has a consensus rating of "Moderate Buy" and a consensus price target of $37.43.

Insider Activity at Dyne Therapeutics

In other news, CEO Joshua T. Brumm sold 5,520 shares of the business's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $27.50, for a total transaction of $151,800.00. Following the completion of the transaction, the chief executive officer now owns 563,471 shares of the company's stock, valued at approximately $15,495,452.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Wildon Farwell sold 1,585 shares of the company's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $25.70, for a total transaction of $40,734.50. Following the completion of the transaction, the insider now directly owns 151,590 shares in the company, valued at approximately $3,895,863. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Joshua T. Brumm sold 5,520 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $27.50, for a total transaction of $151,800.00. Following the completion of the transaction, the chief executive officer now directly owns 563,471 shares of the company's stock, valued at approximately $15,495,452.50. The disclosure for this sale can be found here. Insiders have sold 1,888,532 shares of company stock valued at $44,687,450 over the last three months. 32.89% of the stock is owned by insiders.

Institutional Trading of Dyne Therapeutics

A number of institutional investors have recently bought and sold shares of DYN. Fcpm Iii Services B.V. bought a new stake in shares of Dyne Therapeutics during the 4th quarter valued at about $81,543,000. BlackRock Inc. boosted its holdings in shares of Dyne Therapeutics by 26.8% during the 2nd quarter. BlackRock Inc. now owns 3,322,187 shares of the company's stock worth $37,375,000 after buying an additional 702,966 shares in the last quarter. Wasatch Advisors LP grew its position in shares of Dyne Therapeutics by 16.2% during the 1st quarter. Wasatch Advisors LP now owns 2,927,278 shares of the company's stock worth $33,722,000 after buying an additional 407,699 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Dyne Therapeutics by 34.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,009,529 shares of the company's stock worth $22,607,000 after buying an additional 515,079 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of Dyne Therapeutics by 6.4% in the 1st quarter. Franklin Resources Inc. now owns 1,892,359 shares of the company's stock valued at $21,800,000 after acquiring an additional 114,058 shares in the last quarter. Institutional investors 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.