Dyne Therapeutics (NASDAQ:DYN) Shares Up 10.4% – Time to Buy?

Dyne Therapeutics, Inc. (NASDAQ:DYN) shot up 10.4% on Thursday . The company traded as high as $26.09 and last traded at $26.01. 235,707 shares were traded during mid-day trading, a decline of 83% from the average session volume of 1,423,980 shares. The stock had previously closed at $23.56.

Wall Street Analyst Weigh In

DYN has been the topic of several recent research reports. Chardan Capital reaffirmed a “buy” rating and set a $50.00 target price on shares of Dyne Therapeutics in a research note on Wednesday, November 13th. Raymond James raised Dyne Therapeutics to a “strong-buy” rating in a research report on Thursday, December 12th. JPMorgan Chase & Co. lowered Dyne Therapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $43.00 to $35.00 in a report on Thursday, October 24th. Piper Sandler restated an “overweight” rating and set a $53.00 price target on shares of Dyne Therapeutics in a report on Monday, September 23rd. Finally, Royal Bank of Canada initiated coverage on Dyne Therapeutics in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $45.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.42.

Dyne Therapeutics Price Performance

The company has a market capitalization of $2.52 billion, a PE ratio of -6.96 and a beta of 1.16. The stock has a 50-day simple moving average of $27.78 and a 200 day simple moving average of $34.42.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.25). As a group, research analysts predict that Dyne Therapeutics, Inc. will post -3.45 EPS for the current fiscal year.

Insider Buying and Selling at Dyne Therapeutics

In other news, Director Carlo Incerti sold 16,500 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $28.73, for a total transaction of $474,045.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dirk Kersten sold 23,671 shares of the stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $35.35, for a total value of $836,769.85. Following the completion of the transaction, the director now directly owns 99,652 shares in the company, valued at $3,522,698.20. This trade represents a 19.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 44,742 shares of company stock worth $1,443,246. Insiders own 20.77% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DYN. State of New Jersey Common Pension Fund D acquired a new position in shares of Dyne Therapeutics during the third quarter worth about $1,588,000. Seven Eight Capital LP lifted its position in Dyne Therapeutics by 195.7% during the 2nd quarter. Seven Eight Capital LP now owns 53,739 shares of the company’s stock worth $1,896,000 after acquiring an additional 35,568 shares in the last quarter. Jennison Associates LLC boosted its holdings in Dyne Therapeutics by 1.5% in the 3rd quarter. Jennison Associates LLC now owns 1,346,952 shares of the company’s stock worth $48,383,000 after acquiring an additional 19,730 shares during the period. Mutual of America Capital Management LLC acquired a new stake in Dyne Therapeutics in the second quarter valued at approximately $1,724,000. Finally, RA Capital Management L.P. raised its stake in shares of Dyne Therapeutics by 5.5% during the third quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company’s stock valued at $229,211,000 after purchasing an additional 331,940 shares during the period. 96.68% of the stock is owned by institutional investors and hedge funds.

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.