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

Dyne Therapeutics, Inc. (NASDAQ:DYN) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totalling 8,080,000 shares, an increase of 18.5% from the March 15th total of 6,820,000 shares. Based on an average daily volume of 1,710,000 shares, the days-to-cover ratio is presently 4.7 days. Currently, 16.2% of the company’s stock are short sold.

Analyst Ratings Changes

Several equities analysts have recently issued reports on DYN shares. Stifel Nicolaus upped their target price on Dyne Therapeutics from $35.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Chardan Capital upped their target price on Dyne Therapeutics from $20.00 to $31.00 and gave the company a “buy” rating in a report on Friday, March 8th. HC Wainwright reaffirmed a “buy” rating and issued a $36.00 target price on shares of Dyne Therapeutics in a report on Wednesday, March 6th. Raymond James increased their price objective on Dyne Therapeutics from $27.00 to $56.00 and gave the company a “strong-buy” rating in a report on Thursday, January 4th. Finally, Piper Sandler increased their price objective on Dyne Therapeutics from $27.00 to $29.00 and gave the company an “overweight” rating in a report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Dyne Therapeutics has an average rating of “Moderate Buy” and an average price target of $37.43.

Insider Transactions at Dyne Therapeutics

In other news, insider Wildon Farwell sold 1,585 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $25.70, for a total value of $40,734.50. Following the completion of the sale, the insider now directly owns 151,590 shares of the company’s stock, valued at $3,895,863. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Wildon Farwell sold 1,585 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $25.70, for a total value of $40,734.50. Following the completion of the sale, the insider now directly owns 151,590 shares of the company’s stock, valued at $3,895,863. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Richard William Scalzo sold 13,000 shares of the stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $24.34, for a total value of $316,420.00. Following the completion of the sale, the senior vice president now directly owns 124,228 shares of the company’s stock, valued at $3,023,709.52. The disclosure for this sale can be found here. Insiders sold a total of 1,888,532 shares of company stock valued at $44,687,450 over the last ninety days. 20.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dyne Therapeutics

A number of hedge funds have recently modified their holdings of the business. Fcpm Iii Services B.V. bought a new position in Dyne Therapeutics in the 4th quarter worth $81,543,000. BlackRock Inc. boosted its holdings in shares of Dyne Therapeutics by 26.8% during the 2nd quarter. BlackRock Inc. now owns 3,322,187 shares of the company’s stock valued at $37,375,000 after purchasing an additional 702,966 shares during the last quarter. Wasatch Advisors LP boosted its holdings in shares of Dyne Therapeutics by 16.2% during the 1st quarter. Wasatch Advisors LP now owns 2,927,278 shares of the company’s stock valued at $33,722,000 after purchasing an additional 407,699 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Dyne Therapeutics by 34.5% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,009,529 shares of the company’s stock valued at $22,607,000 after purchasing an additional 515,079 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Dyne Therapeutics by 6.4% during the 1st quarter. Franklin Resources Inc. now owns 1,892,359 shares of the company’s stock valued at $21,800,000 after purchasing an additional 114,058 shares during the last quarter. Institutional investors own 96.68% of the company’s stock.

Dyne Therapeutics Trading Down 1.6 %

Shares of DYN opened at $25.44 on Tuesday. The firm has a market cap of $2.19 billion, a PE ratio of -6.46 and a beta of 0.95. The firm has a fifty day simple moving average of $25.85 and a two-hundred day simple moving average of $16.94. Dyne Therapeutics has a 1-year low of $6.40 and a 1-year high of $30.27.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.17). As a group, research analysts forecast that Dyne Therapeutics will post -3.25 EPS for the current fiscal year.

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.