Short Interest in Dyne Therapeutics, Inc. (NASDAQ:DYN) Increases By 9.1%

Dyne Therapeutics, Inc. (NASDAQ:DYN) was the target of a significant increase in short interest in the month of 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 daily volume of 1,230,000 shares, the short-interest ratio is presently 8.1 days.

Dyne Therapeutics Stock Down 6.3 %

Shares of DYN stock traded down $1.92 during midday trading on Friday, reaching $28.39. 1,421,927 shares of the stock were exchanged, compared to its average volume of 1,046,585. Dyne Therapeutics has a 1 year low of $9.76 and a 1 year high of $47.45. The company’s 50 day moving average is $32.48 and its two-hundred day moving average is $35.17.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.25). As a group, analysts forecast that Dyne Therapeutics will post -3.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Dyne Therapeutics

In related news, CEO John Cox bought 32,000 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were purchased at an average price 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 directly owns 8,000 shares in the company, valued at approximately $264,320. The trade was a -133.33 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Susanna Gatti High sold 8,976 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $34.41, for a total value of $308,864.16. Following the sale, the chief operating officer now owns 131,636 shares in the company, valued at approximately $4,529,594.76. This represents a 6.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,975 shares of company stock valued at $5,693,789. Company insiders own 20.77% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. RA Capital Management L.P. purchased a new stake in shares of Dyne Therapeutics in the 1st quarter worth $140,666,000. FMR LLC increased its stake in shares of Dyne Therapeutics by 69.7% in the 3rd quarter. FMR LLC now owns 9,026,697 shares of the company’s stock worth $324,239,000 after purchasing an additional 3,707,734 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Dyne Therapeutics by 23,512.0% in the 1st quarter. Janus Henderson Group PLC now owns 2,675,240 shares of the company’s stock worth $75,915,000 after purchasing an additional 2,663,910 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Dyne Therapeutics by 8,284.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,132,092 shares of the company’s stock worth $32,141,000 after purchasing an additional 1,118,590 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Dyne Therapeutics by 47.7% in the 1st quarter. Vanguard Group Inc. now owns 3,440,270 shares of the company’s stock worth $97,669,000 after purchasing an additional 1,110,629 shares in the last quarter. 96.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DYN. Oppenheimer reiterated an “outperform” rating and issued a $55.00 price objective on shares of Dyne Therapeutics in a research report on Tuesday, September 3rd. Chardan Capital restated a “buy” rating and set a $50.00 price target on shares of Dyne Therapeutics in a research report on Wednesday. Piper Sandler restated an “overweight” rating and set a $53.00 price target on shares of Dyne Therapeutics in a research report on Monday, September 23rd. Stifel Nicolaus raised their price target on Dyne Therapeutics from $41.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, HC Wainwright reiterated a “buy” rating and issued a $55.00 price objective on shares of Dyne Therapeutics in a report on Wednesday. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.