Dyne Therapeutics, Inc. (NASDAQ:DYN) Short Interest Down 6.9% in August

Dyne Therapeutics, Inc. (NASDAQ:DYN) was the target of a large decline in short interest in August. As of August 31st, there was short interest totalling 6,870,000 shares, a decline of 6.9% from the August 15th total of 7,380,000 shares. Based on an average daily volume of 1,280,000 shares, the short-interest ratio is presently 5.4 days.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Stifel Nicolaus raised their target price on shares of Dyne Therapeutics from $41.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, August 16th. HC Wainwright reissued a “buy” rating and issued a $55.00 target price on shares of Dyne Therapeutics in a research report on Wednesday, September 4th. StockNews.com downgraded Dyne Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday. Guggenheim boosted their price target on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Dyne Therapeutics from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.40.

Insider Activity

In related news, COO Susanna Gatti High sold 29,787 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $35.01, for a total transaction of $1,042,842.87. Following the sale, the chief operating officer now directly owns 148,792 shares in the company, valued at approximately $5,209,207.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO Susanna Gatti High sold 29,787 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $35.01, for a total value of $1,042,842.87. Following the sale, the chief operating officer now owns 148,792 shares in the company, valued at approximately $5,209,207.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John Cox purchased 32,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $33.04 per share, for a total transaction of $1,057,280.00. Following the completion of the transaction, the chief executive officer now owns 8,000 shares in the company, valued at approximately $264,320. The disclosure for this purchase can be found here. Corporate insiders own 20.77% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake in shares of Dyne Therapeutics by 904.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock valued at $26,000 after purchasing an additional 669 shares in the last quarter. Amalgamated Bank grew its position in shares of Dyne Therapeutics by 39.9% during the 2nd quarter. Amalgamated Bank now owns 2,792 shares of the company’s stock worth $99,000 after buying an additional 796 shares during the period. Public Employees Retirement Association of Colorado acquired a new position in shares of Dyne Therapeutics during the second quarter valued at about $203,000. Ameritas Investment Partners Inc. grew its stake in Dyne Therapeutics by 28.0% in the first quarter. Ameritas Investment Partners Inc. now owns 5,896 shares of the company’s stock valued at $167,000 after acquiring an additional 1,291 shares during the period. Finally, Farallon Capital Management LLC acquired a new position in Dyne Therapeutics during the second quarter worth $212,000. 96.68% of the stock is owned by institutional investors and hedge funds.

Dyne Therapeutics Stock Down 0.8 %

NASDAQ:DYN opened at $34.34 on Thursday. Dyne Therapeutics has a twelve month low of $6.40 and a twelve month high of $47.45. The company has a market cap of $3.00 billion, a P/E ratio of -8.65 and a beta of 1.07. The business has a 50 day moving average price of $41.38 and a two-hundred day moving average price of $33.47.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.70) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.72) by $0.02. As a group, analysts anticipate that Dyne Therapeutics will post -2.96 earnings per share for the current fiscal year.

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.