Dyne Therapeutics, Inc. (NASDAQ:DYN) Short Interest Update

Dyne Therapeutics, Inc. (NASDAQ:DYN) was the target of a large growth in short interest in the month of September. As of September 15th, there was short interest totalling 7,660,000 shares, a growth of 11.5% from the August 31st total of 6,870,000 shares. Based on an average daily trading volume, of 1,340,000 shares, the days-to-cover ratio is presently 5.7 days.

Insiders Place Their Bets

In other Dyne Therapeutics news, CEO John Cox acquired 32,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average cost of $33.04 per share, with a total value of $1,057,280.00. Following the completion of the acquisition, the chief executive officer now directly owns 8,000 shares in the company, valued at approximately $264,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Dyne Therapeutics news, CEO John Cox bought 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 purchase, the chief executive officer now directly owns 8,000 shares in the company, valued at $264,320. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Richard William Scalzo sold 1,390 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $34.55, for a total value of $48,024.50. Following the completion of the sale, the senior vice president now owns 98,568 shares of the company’s stock, valued at $3,405,524.40. The disclosure for this sale can be found here. In the last ninety days, insiders sold 135,304 shares of company stock worth $4,857,019. 20.77% of the stock is currently owned by company insiders.

Institutional Trading of Dyne Therapeutics

A number of large investors have recently made changes to their positions in DYN. Trexquant Investment LP acquired a new position in Dyne Therapeutics during the 4th quarter worth approximately $304,000. Rafferty Asset Management LLC boosted its holdings in Dyne Therapeutics by 17.7% during the fourth quarter. Rafferty Asset Management LLC now owns 164,041 shares of the company’s stock worth $2,182,000 after buying an additional 24,632 shares in the last quarter. Commodore Capital LP acquired a new position in Dyne Therapeutics during the fourth quarter worth about $11,970,000. Frazier Life Sciences Management L.P. purchased a new position in Dyne Therapeutics in the fourth quarter valued at about $15,758,000. Finally, Octagon Capital Advisors LP lifted its position in shares of Dyne Therapeutics by 14.4% during the 4th quarter. Octagon Capital Advisors LP now owns 792,945 shares of the company’s stock valued at $10,546,000 after acquiring an additional 100,000 shares during the period. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

Dyne Therapeutics Stock Performance

Shares of NASDAQ:DYN traded down $0.72 during trading on Tuesday, hitting $35.20. The company’s stock had a trading volume of 507,428 shares, compared to its average volume of 1,586,982. Dyne Therapeutics has a fifty-two week low of $6.40 and a fifty-two week high of $47.45. The business has a 50 day moving average price of $40.11 and a two-hundred day moving average price of $34.00. The company has a market capitalization of $3.08 billion, a PE ratio of -9.05 and a beta of 1.07.

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DYN. Guggenheim lifted their price objective 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. Morgan Stanley upped their price target on Dyne Therapeutics from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. HC Wainwright restated a “buy” rating and issued a $55.00 price objective on shares of Dyne Therapeutics in a research report on Wednesday, September 4th. Piper Sandler reissued an “overweight” rating and issued a $53.00 price target on shares of Dyne Therapeutics in a research note on Monday, September 23rd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Dyne Therapeutics from $39.00 to $43.00 and gave the company an “overweight” rating in a report 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.40.

Dyne Therapeutics Company Profile

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.