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

Dyne Therapeutics, Inc. (NASDAQ:DYN) saw a significant growth in short interest in 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 days-to-cover ratio is currently 8.1 days.

Dyne Therapeutics Trading Up 3.3 %

NASDAQ:DYN opened at $29.34 on Tuesday. The firm has a market capitalization of $2.99 billion, a PE ratio of -8.24 and a beta of 1.10. Dyne Therapeutics has a 1 year low of $10.03 and a 1 year high of $47.45. The firm’s fifty day simple moving average is $32.42 and its 200 day simple moving average is $35.26.

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

Insider Buying and Selling at Dyne Therapeutics

In other news, SVP Richard William Scalzo sold 1,390 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $34.55, for a total value of $48,024.50. Following the transaction, the senior vice president now owns 98,568 shares in the company, valued at $3,405,524.40. This represents a 1.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dirk Kersten sold 79,411 shares of the 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 of the company’s stock, valued at approximately $8,533,929.15. The trade was a 25.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 176,257 shares of company stock valued at $6,193,718. 20.77% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dyne Therapeutics

Hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC lifted its stake in shares of Dyne Therapeutics by 904.1% in 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 period. Quantbot Technologies LP bought a new stake in shares of Dyne Therapeutics in the 3rd quarter worth approximately $34,000. Point72 DIFC Ltd bought a new stake in shares of Dyne Therapeutics in the 3rd quarter worth approximately $36,000. US Bancorp DE grew its holdings in shares of Dyne Therapeutics by 776.9% during the 3rd quarter. US Bancorp DE now owns 1,368 shares of the company’s stock worth $49,000 after purchasing an additional 1,212 shares in the last quarter. Finally, Values First Advisors Inc. bought a new stake in shares of Dyne Therapeutics during the third quarter valued at approximately $62,000. 96.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DYN has been the subject of several recent research reports. HC Wainwright reiterated a “buy” rating and set a $55.00 price objective on shares of Dyne Therapeutics in a report on Wednesday, November 13th. Chardan Capital reiterated a “buy” rating and set a $50.00 price target on shares of Dyne Therapeutics in a report on Wednesday, November 13th. JPMorgan Chase & Co. cut Dyne Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $43.00 to $35.00 in a research note on Thursday, October 24th. Piper Sandler reaffirmed an “overweight” rating and set a $53.00 price objective on shares of Dyne Therapeutics in a research report on Monday, September 23rd. Finally, StockNews.com downgraded shares of Dyne Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, September 16th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.