Dyne Therapeutics (NASDAQ:DYN) Shares Gap Up – Here’s What Happened

Dyne Therapeutics, Inc. (NASDAQ:DYN) gapped up before the market opened on Monday . The stock had previously closed at $12.05, but opened at $12.46. Dyne Therapeutics shares last traded at $12.21, with a volume of 437,345 shares trading hands.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Guggenheim restated a “buy” rating on shares of Dyne Therapeutics in a research note on Friday, January 24th. BMO Capital Markets began coverage on Dyne Therapeutics in a report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 target price for the company. Piper Sandler lowered their price target on shares of Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. Robert W. Baird began coverage on shares of Dyne Therapeutics in a research note on Friday, December 13th. They set an “outperform” rating and a $46.00 price objective for the company. Finally, Raymond James upgraded shares of Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $48.85.

Dyne Therapeutics Stock Up 1.9 %

The company has a 50-day moving average of $14.58 and a two-hundred day moving average of $25.13. The company has a market capitalization of $1.39 billion, a P/E ratio of -3.44 and a beta of 1.11.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.04. As a group, equities analysts expect that Dyne Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

Insider Transactions at Dyne Therapeutics

In related news, insider Oxana Beskrovnaya sold 2,598 shares of the firm’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $13.95, for a total value of $36,242.10. Following the completion of the sale, the insider now directly owns 199,087 shares in the company, valued at $2,777,263.65. This trade represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 6,237 shares of company stock valued at $77,760 over the last three months. Corporate insiders own 20.77% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

Several hedge funds have recently modified their holdings of the stock. GF Fund Management CO. LTD. acquired a new stake in shares of Dyne Therapeutics during the 4th quarter worth approximately $50,000. Neo Ivy Capital Management purchased a new position in Dyne Therapeutics in the 4th quarter worth approximately $205,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Dyne Therapeutics by 6.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,363 shares of the company’s stock worth $3,378,000 after buying an additional 9,029 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of Dyne Therapeutics in the fourth quarter valued at about $2,804,000. Finally, Two Sigma Advisers LP raised its holdings in Dyne Therapeutics by 25.4% in the 4th quarter. Two Sigma Advisers LP now owns 76,100 shares of the company’s stock valued at $1,793,000 after buying an additional 15,400 shares during the period. Institutional investors and hedge funds own 96.68% of the company’s stock.

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.