Dyne Therapeutics, Inc. (NASDAQ:DYN) Short Interest Up 9.1% in October

Dyne Therapeutics, Inc. (NASDAQ:DYN) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 9,940,000 shares, an increase of 9.1% from the October 15th total of 9,110,000 shares. Based on an average trading volume of 1,230,000 shares, the short-interest ratio is currently 8.1 days.

Dyne Therapeutics Price Performance

Shares of NASDAQ DYN opened at $29.34 on Tuesday. Dyne Therapeutics has a fifty-two week low of $10.03 and a fifty-two week high of $47.45. The firm has a market capitalization of $2.99 billion, a P/E ratio of -8.24 and a beta of 1.10. The company’s 50 day simple moving average is $32.42 and its 200 day simple moving average is $35.26.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.25). Sell-side analysts expect that Dyne Therapeutics will post -3.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DYN. Piper Sandler reiterated an “overweight” rating and issued a $53.00 target price on shares of Dyne Therapeutics in a research note on Monday, September 23rd. HC Wainwright restated a “buy” rating and set a $55.00 target price on shares of Dyne Therapeutics in a report on Wednesday, November 13th. Chardan Capital restated a “buy” rating and issued a $50.00 target price on shares of Dyne Therapeutics in a research note on Wednesday, November 13th. Oppenheimer reiterated an “outperform” rating and set a $55.00 price target on shares of Dyne Therapeutics in a research report on Tuesday, September 3rd. Finally, StockNews.com cut shares of Dyne Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $51.40.

Insider Activity at Dyne Therapeutics

In other Dyne Therapeutics news, Director Carlo Incerti sold 16,500 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $28.73, for a total value of $474,045.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Richard William Scalzo sold 1,390 shares of Dyne Therapeutics stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $34.55, for a total value of $48,024.50. Following the transaction, the senior vice president now directly owns 98,568 shares of the company’s stock, valued at approximately $3,405,524.40. The trade was a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 176,257 shares of company stock valued at $6,193,718 over the last quarter. 20.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Several institutional investors have recently modified their holdings of DYN. Nisa Investment Advisors LLC raised its position 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 acquiring an additional 669 shares during the period. Quantbot Technologies LP bought a new stake in Dyne Therapeutics in the third quarter valued at approximately $34,000. Point72 DIFC Ltd acquired a new stake in Dyne Therapeutics in the third quarter worth $36,000. US Bancorp DE boosted its position in shares of Dyne Therapeutics by 776.9% during the third quarter. US Bancorp DE now owns 1,368 shares of the company’s stock worth $49,000 after purchasing an additional 1,212 shares in the last quarter. Finally, Values First Advisors Inc. acquired a new position in shares of Dyne Therapeutics in the 3rd quarter valued at $62,000. 96.68% of the stock is currently owned by institutional investors and hedge funds.

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.