Dyne Therapeutics (NASDAQ:DYN) Stock Price Up 5.4% – Should You Buy?

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s stock price was up 5.4% during trading on Thursday . The stock traded as high as $11.97 and last traded at $11.87. Approximately 871,901 shares changed hands during mid-day trading, a decline of 59% from the average daily volume of 2,122,307 shares. The stock had previously closed at $11.26.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. dropped their target price on shares of Dyne Therapeutics from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Friday, March 21st. Piper Sandler decreased their price objective on shares of Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. BMO Capital Markets initiated coverage on shares of Dyne Therapeutics in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 target price for the company. Guggenheim restated a “buy” rating on shares of Dyne Therapeutics in a research report on Friday, January 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 price target on shares of Dyne Therapeutics in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.46.

Dyne Therapeutics Price Performance

The firm has a 50 day moving average price of $13.38 and a 200-day moving average price of $23.75. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -3.31 and a beta of 1.11.

Dyne Therapeutics (NASDAQ:DYN) last released its earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.04. On average, sell-side analysts expect that Dyne Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

Insider Activity at Dyne Therapeutics

In other Dyne Therapeutics news, insider Oxana Beskrovnaya sold 2,598 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $13.95, for a total value of $36,242.10. Following the transaction, the insider now owns 199,087 shares of the company’s stock, valued at approximately $2,777,263.65. This represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 6,237 shares of company stock worth $77,760 over the last ninety days. Company insiders own 20.77% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

Several institutional investors have recently modified their holdings of the stock. Quantbot Technologies LP acquired a new stake in shares of Dyne Therapeutics in the 3rd quarter valued at approximately $34,000. Point72 DIFC Ltd bought a new stake in Dyne Therapeutics in the third quarter valued at approximately $36,000. GF Fund Management CO. LTD. acquired a new stake in Dyne Therapeutics in the fourth quarter worth $50,000. KBC Group NV grew its holdings in shares of Dyne Therapeutics by 45.3% in the 4th quarter. KBC Group NV now owns 3,135 shares of the company’s stock valued at $74,000 after buying an additional 978 shares during the period. Finally, Quest Partners LLC increased its position in shares of Dyne Therapeutics by 898.3% in the 3rd quarter. Quest Partners LLC now owns 3,434 shares of the company’s stock valued at $123,000 after buying an additional 3,090 shares in the last quarter. 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.