Dyne Therapeutics (NASDAQ:DYN) Trading 3.8% Higher – Here’s What Happened

Dyne Therapeutics, Inc. (NASDAQ:DYN) shares shot up 3.8% during mid-day trading on Tuesday . The stock traded as high as $12.81 and last traded at $12.78. 653,044 shares changed hands during trading, a decline of 51% from the average session volume of 1,332,165 shares. The stock had previously closed at $12.31.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DYN. Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 price objective on shares of Dyne Therapeutics in a research note on Tuesday, January 14th. Scotiabank began coverage on shares of Dyne Therapeutics in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 target price for the company. Baird R W upgraded shares of Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. Raymond James upgraded shares of Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. Finally, Chardan Capital restated a “buy” rating and issued a $50.00 target price on shares of Dyne Therapeutics in a research note on Monday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $48.85.

Dyne Therapeutics Price Performance

The company has a market capitalization of $1.40 billion, a price-to-earnings ratio of -3.48 and a beta of 1.11. The stock’s fifty day simple moving average is $13.89 and its two-hundred day simple moving average is $24.58.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.88) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.04. On average, sell-side analysts predict that Dyne Therapeutics, Inc. will post -3.44 EPS for the current year.

Insider Buying and Selling

In related news, insider Oxana Beskrovnaya sold 2,598 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total value of $36,242.10. Following the sale, the insider now owns 199,087 shares of the company’s stock, valued at $2,777,263.65. This trade represents a 1.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 6,237 shares of company stock valued at $77,760 in the last quarter. Company insiders own 20.77% of the company’s stock.

Institutional Trading of Dyne Therapeutics

A number of large investors have recently modified their holdings of the company. GF Fund Management CO. LTD. acquired a new stake in shares of Dyne Therapeutics in the 4th quarter worth about $50,000. Neo Ivy Capital Management bought a new position in Dyne Therapeutics in the 4th quarter valued at about $205,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Dyne Therapeutics by 6.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,363 shares of the company’s stock valued at $3,378,000 after buying an additional 9,029 shares in the last quarter. Voloridge Investment Management LLC bought a new position in Dyne Therapeutics in the 4th quarter valued at about $2,804,000. Finally, Two Sigma Advisers LP grew its position in Dyne Therapeutics by 25.4% in the 4th quarter. Two Sigma Advisers LP now owns 76,100 shares of the company’s stock valued at $1,793,000 after buying an additional 15,400 shares in the last quarter. Institutional investors and hedge funds 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.