Dyne Therapeutics (NASDAQ:DYN) Sets New 1-Year High – Here’s What Happened
by Tristan Rich · The Markets DailyDyne Therapeutics, Inc. (NASDAQ:DYN – Get Free Report)’s stock price reached a new 52-week high during trading on Wednesday . The company traded as high as $27.09 and last traded at $26.54, with a volume of 148021 shares changing hands. The stock had previously closed at $25.97.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on DYN shares. TD Cowen started coverage on Dyne Therapeutics in a research note on Friday, June 26th. They issued a “buy” rating for the company. Evercore set a $33.00 price target on Dyne Therapeutics in a report on Friday, May 15th. Wall Street Zen downgraded Dyne Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday. Cantor Fitzgerald assumed coverage on shares of Dyne Therapeutics in a report on Thursday, July 23rd. They set an “overweight” rating for the company. Finally, Morgan Stanley reduced their price objective on shares of Dyne Therapeutics from $47.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.42.
Check Out Our Latest Stock Report on Dyne Therapeutics
Dyne Therapeutics Price Performance
The company has a debt-to-equity ratio of 0.28, a quick ratio of 12.02 and a current ratio of 12.02. The firm has a fifty day simple moving average of $21.55 and a two-hundred day simple moving average of $18.99. The firm has a market cap of $4.92 billion, a PE ratio of -7.91 and a beta of 1.07.
Dyne Therapeutics (NASDAQ:DYN – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.33). Equities analysts predict that Dyne Therapeutics, Inc. will post -3.37 EPS for the current fiscal year.
Insiders Place Their Bets
In other Dyne Therapeutics news, Director Brian S. Posner purchased 2,500 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was purchased at an average price of $17.12 per share, with a total value of $42,800.00. Following the acquisition, the director owned 18,000 shares in the company, valued at approximately $308,160. The trade was a 16.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jason P. Rhodes sold 480,240 shares of Dyne Therapeutics stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $22.79, for a total value of $10,944,669.60. Following the completion of the transaction, the director owned 875,912 shares of the company’s stock, valued at approximately $19,962,034.48. This represents a 35.41% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders acquired 9,000 shares of company stock valued at $156,800 and sold 1,558,819 shares valued at $34,385,234. Corporate insiders own 9.46% of the company’s stock.
Hedge Funds Weigh In On Dyne Therapeutics
Institutional investors and hedge funds have recently modified their holdings of the stock. Hilton Head Capital Partners LLC bought a new position in shares of Dyne Therapeutics during the 1st quarter valued at approximately $26,000. Strs Ohio purchased a new stake in Dyne Therapeutics during the 4th quarter valued at $51,000. Aster Capital Management DIFC Ltd bought a new stake in Dyne Therapeutics in the fourth quarter worth $84,000. Steward Partners Investment Advisory LLC lifted its position in Dyne Therapeutics by 102.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,880 shares of the company’s stock worth $95,000 after buying an additional 2,465 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Dyne Therapeutics by 26.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,940 shares of the company’s stock worth $136,000 after buying an additional 1,440 shares during the period. Hedge funds and other institutional investors own 96.68% of the company’s stock.
About Dyne Therapeutics
Dyne Therapeutics is a clinical-stage biotechnology company specializing in the development of localized gene regulation therapies for serious rare diseases. The company’s proprietary FORCE (Facilitated Orthogonal Receptor‐mediated Cargo Evaluation) platform is designed to enable targeted delivery of oligonucleotide and gene therapy modalities to skeletal and respiratory muscles. Dyne’s lead programs focus on Duchenne muscular dystrophy (DMD), myotonic dystrophy type 1 (DM1) and facioscapulohumeral muscular dystrophy (FSHD), with preclinical and early clinical studies evaluating safety, tolerability and tissue specificity.
Since its founding in 2019 by Flagship Pioneering, Dyne has advanced multiple product candidates using its modular delivery approach, which couples engineered ligands with therapeutic payloads to improve uptake into muscle cells.