Dyne Therapeutics, Inc. (NASDAQ:DYN) Short Interest Update

Dyne Therapeutics, Inc. (NASDAQ:DYN) was the recipient of a large drop in short interest in August. As of August 15th, there was short interest totalling 7,380,000 shares, a drop of 25.3% from the July 31st total of 9,880,000 shares. Based on an average trading volume of 1,100,000 shares, the days-to-cover ratio is presently 6.7 days.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Chardan Capital lifted their target price on Dyne Therapeutics from $31.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. HC Wainwright boosted their price target on Dyne Therapeutics from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. boosted their price target on Dyne Therapeutics from $39.00 to $43.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. StockNews.com upgraded Dyne Therapeutics from a “sell” rating to a “hold” rating in a report on Friday. Finally, Morgan Stanley boosted their price target on Dyne Therapeutics from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $50.60.

Insider Buying and Selling at Dyne Therapeutics

In other news, COO Susanna Gatti High sold 80,000 shares of Dyne Therapeutics stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $30.24, for a total transaction of $2,419,200.00. Following the completion of the sale, the chief operating officer now owns 154,062 shares in the company, valued at approximately $4,658,834.88. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Oxana Beskrovnaya sold 2,136 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $31.34, for a total value of $66,942.24. Following the sale, the insider now owns 147,511 shares of the company’s stock, valued at $4,622,994.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Susanna Gatti High sold 80,000 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $30.24, for a total transaction of $2,419,200.00. Following the transaction, the chief operating officer now owns 154,062 shares of the company’s stock, valued at $4,658,834.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 163,676 shares of company stock worth $5,270,510. 20.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Dyne Therapeutics

Hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC grew its stake in shares of Dyne Therapeutics by 904.1% during the second quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock valued at $26,000 after buying an additional 669 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in Dyne Therapeutics in the first quarter worth approximately $28,000. Amalgamated Bank grew its stake in Dyne Therapeutics by 39.9% in the second quarter. Amalgamated Bank now owns 2,792 shares of the company’s stock worth $99,000 after purchasing an additional 796 shares in the last quarter. Ameritas Investment Partners Inc. grew its stake in Dyne Therapeutics by 28.0% in the first quarter. Ameritas Investment Partners Inc. now owns 5,896 shares of the company’s stock worth $167,000 after purchasing an additional 1,291 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado bought a new position in Dyne Therapeutics in the second quarter worth approximately $203,000. Institutional investors own 96.68% of the company’s stock.

Dyne Therapeutics Price Performance

Shares of NASDAQ:DYN traded up $0.39 on Friday, hitting $45.65. The company’s stock had a trading volume of 244,212 shares, compared to its average volume of 1,533,184. The company has a market capitalization of $3.99 billion, a PE ratio of -11.40 and a beta of 1.07. Dyne Therapeutics has a 1 year low of $6.40 and a 1 year high of $47.45. The company has a 50-day simple moving average of $41.27 and a 200 day simple moving average of $32.33.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.70) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.02. On average, equities research analysts expect that Dyne Therapeutics will post -3 earnings per share for the current fiscal year.

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.