Dyne Therapeutics (NASDAQ:DYN) Trading 4.4% Higher – Here’s Why
by Sarita Garza · The Markets DailyShares of Dyne Therapeutics, Inc. (NASDAQ:DYN – Get Free Report) rose 4.4% during mid-day trading on Friday . The stock traded as high as $18.39 and last traded at $18.5840. Approximately 898,531 shares traded hands during trading, a decline of 59% from the average daily volume of 2,203,674 shares. The stock had previously closed at $17.80.
Analyst Upgrades and Downgrades
DYN has been the topic of several recent analyst reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of Dyne Therapeutics in a research note on Monday, March 9th. Sanford C. Bernstein set a $23.00 price objective on shares of Dyne Therapeutics in a report on Tuesday, December 9th. JPMorgan Chase & Co. decreased their target price on shares of Dyne Therapeutics from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 20th. Stifel Nicolaus increased their target price on shares of Dyne Therapeutics from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, December 11th. Finally, Morgan Stanley dropped their price target on shares of Dyne Therapeutics from $50.00 to $47.00 and set an “overweight” rating for the company in a research report on Monday, March 2nd. Three research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Dyne Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $35.14.
Get Our Latest Research Report on DYN
Dyne Therapeutics Stock Performance
The company has a quick ratio of 22.25, a current ratio of 22.25 and a debt-to-equity ratio of 0.15. The firm has a 50-day moving average price of $16.97 and a 200 day moving average price of $17.39. The firm has a market capitalization of $2.91 billion, a PE ratio of -4.99 and a beta of 1.34.
Dyne Therapeutics (NASDAQ:DYN – Get Free Report) last posted its quarterly earnings data on Monday, March 2nd. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.02). Research analysts expect that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current year.
Insider Transactions at Dyne Therapeutics
In other Dyne Therapeutics news, Director Brian S. Posner purchased 3,000 shares of the business’s stock in a transaction on Friday, March 6th. The shares were bought at an average cost of $15.06 per share, for a total transaction of $45,180.00. Following the completion of the purchase, the director directly owned 11,500 shares of the company’s stock, valued at approximately $173,190. This trade represents a 35.29% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.14% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. grew its holdings in shares of Dyne Therapeutics by 67.1% in the fourth quarter. Rockefeller Capital Management L.P. now owns 14,268 shares of the company’s stock valued at $279,000 after purchasing an additional 5,730 shares in the last quarter. Seven Fleet Capital Management LP acquired a new stake in Dyne Therapeutics during the 4th quarter worth approximately $1,373,000. T. Rowe Price Investment Management Inc. boosted its position in Dyne Therapeutics by 523.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,540,089 shares of the company’s stock valued at $343,085,000 after buying an additional 14,727,667 shares during the period. Invesco Ltd. boosted its position in Dyne Therapeutics by 17.1% in the 4th quarter. Invesco Ltd. now owns 137,684 shares of the company’s stock valued at $2,693,000 after buying an additional 20,121 shares during the period. Finally, Axxcess Wealth Management LLC acquired a new position in shares of Dyne Therapeutics in the fourth quarter worth $2,226,000. Institutional investors and hedge funds 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.