Dyne Therapeutics, Inc. (NASDAQ:DYN) Short Interest Up 9.1% in October

Dyne Therapeutics, Inc. (NASDAQ:DYN) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 9,940,000 shares, a growth of 9.1% from the October 15th total of 9,110,000 shares. Based on an average daily trading volume, of 1,230,000 shares, the short-interest ratio is currently 8.1 days.

Insider Buying and Selling at Dyne Therapeutics

In other news, Director Dirk Kersten sold 79,411 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $36.45, for a total transaction of $2,894,530.95. Following the completion of the sale, the director now owns 234,127 shares in the company, valued at $8,533,929.15. This represents a 25.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Richard William Scalzo sold 1,390 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $34.55, for a total value of $48,024.50. Following the sale, the senior vice president now directly owns 98,568 shares in the company, valued at $3,405,524.40. This trade represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 158,975 shares of company stock worth $5,693,789. Insiders own 20.77% of the company’s stock.

Institutional Trading of Dyne Therapeutics

Hedge funds have recently modified their holdings of the company. Swiss National Bank lifted its position in shares of Dyne Therapeutics by 41.5% during the first quarter. Swiss National Bank now owns 85,200 shares of the company’s stock worth $2,419,000 after purchasing an additional 25,000 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of Dyne Therapeutics during the first quarter worth $693,000. Russell Investments Group Ltd. boosted its holdings in Dyne Therapeutics by 1.4% during the first quarter. Russell Investments Group Ltd. now owns 101,943 shares of the company’s stock worth $2,894,000 after purchasing an additional 1,447 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Dyne Therapeutics by 44.6% in the first quarter. ProShare Advisors LLC now owns 16,307 shares of the company’s stock valued at $463,000 after buying an additional 5,028 shares in the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Dyne Therapeutics by 47.7% during the 1st quarter. Vanguard Group Inc. now owns 3,440,270 shares of the company’s stock worth $97,669,000 after acquiring an additional 1,110,629 shares during the last quarter. Institutional investors and hedge funds own 96.68% of the company’s stock.

Dyne Therapeutics Stock Up 3.3 %

Shares of NASDAQ:DYN traded up $0.95 during trading on Monday, reaching $29.34. The stock had a trading volume of 1,268,312 shares, compared to its average volume of 1,493,929. The stock has a fifty day simple moving average of $32.48 and a two-hundred day simple moving average of $35.24. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of -7.97 and a beta of 1.10. Dyne Therapeutics has a 52 week low of $10.03 and a 52 week high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.25). On average, analysts forecast that Dyne Therapeutics will post -3.39 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on DYN shares. Oppenheimer restated an “outperform” rating and set a $55.00 target price on shares of Dyne Therapeutics in a report on Tuesday, September 3rd. Piper Sandler restated an “overweight” rating and issued a $53.00 target price on shares of Dyne Therapeutics in a research note on Monday, September 23rd. Morgan Stanley lifted their price target on Dyne Therapeutics from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Stifel Nicolaus boosted their target price on Dyne Therapeutics from $41.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, Chardan Capital reiterated a “buy” rating and issued a $50.00 target price on shares of Dyne Therapeutics in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Dyne Therapeutics has an average rating of “Moderate Buy” and an average price target of $51.40.

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.