Dyne Therapeutics, Inc. (NASDAQ: DYN – Get a rating) was the target of significant growth in short interest during the month of October. As of October 15, there was short interest totaling 2,250,000 shares, a growth of 27.8% from the total of 1,760,000 shares as of September 30. Currently, 7.9% of the stock’s shares are sold short. Based on an average daily volume of 271,900 shares, the days-to-cover ratio is currently 8.3 days.
Insider Buying and Selling at Dyne Therapeutics
In other Dyne Therapeutics news, insider Joshua T. Brumm sold 195,800 shares in a trade on Monday, October 10. The shares were sold at an average price of $12.46, for a total transaction of $2,439,668.00. Following the completion of the transaction, the insider now owns 204,623 shares of the company, valued at $2,549,602.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via the SEC website. Separately, insider Joshua T. Brumm sold 14,200 shares of the company in a trade dated Friday, October 7. The shares were sold at an average price of $13.37, for a total value of $189,854.00. Following the completion of the sale, the insider now owns 204,623 shares of the company, valued at approximately $2,735,809.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, insider Joshua T. Brumm sold 195,800 shares of the company in a trade dated Monday, October 10. The stock was sold at an average price of $12.46, for a total transaction of $2,439,668.00. Following the completion of the sale, the insider now owns 204,623 shares of the company, valued at approximately $2,549,602.58. Disclosure of this sale can be found here. 42.34% of the shares are held by insiders of the company.
Institutional entries and exits
A number of institutional investors and hedge funds have recently changed their holdings in the company. Strs Ohio bought a new position in shares of Dyne Therapeutics in Q3 for a value of approximately $167,000. Denali Advisors LLC bought a new stock position in Dyne Therapeutics in Q3 for about $61,000. Raymond James & Associates bought a new stock position in Dyne Therapeutics in Q3 for a value of approximately $739,000. Legal & General Group Plc increased its stake in Dyne Therapeutics by 59.9% in the 2nd quarter. Legal & General Group Plc now owns 12,757 shares in the company worth $88,000 after buying an additional 4,779 shares in the last quarter. Finally, State Street Corp increased its stake in Dyne Therapeutics by 11.7% in the 2nd quarter. State Street Corp now owns 559,688 shares of the company worth $3,845,000 after purchasing an additional 58,717 shares in the last quarter. Hedge funds and other institutional investors hold 90.22% of the company’s shares.
Dyne Therapeutics is trading up 6.9%
NASDAQ DYN traded at $0.75 during Friday’s trading, reaching $11.58. 191,917 shares of the company were traded, compared to its average volume of 228,053. The company’s 50-day simple moving average is $12.44 and its two-hundred-day simple moving average is 10.31 $. Dyne Therapeutics has a 12 month minimum of $4.30 and a 12 month maximum of $16.39.
Therapeutic Dyne (NASDAQ: DYN – Get a rating) last reported results on Thursday, August 4. The company reported ($1.01) EPS for the quarter, missing analyst consensus estimates of ($0.79) by ($0.22). Equity analysts expect Dyne Therapeutics to post an EPS of -3.59 for the current fiscal year.
A Wall Street analyst gives his opinion
Several research analysts have recently commented on DYN shares. Chardan Capital began covering Dyne Therapeutics shares in a research note on Wednesday, July 20. They issued a “buy” rating and a price target of $17.00 on the stock. Raymond James began Dyne Therapeutics stock coverage in a research note on Monday, July 11. They issued an “outperform” rating and a $15.00 price target on the stock. Finally, Piper Sandler raised her price target on Dyne Therapeutics shares from $17.00 to $23.00 in a Tuesday, September 6 research note. One investment analyst gave the stock a sell rating and four gave the company’s stock a buy rating. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.00.
About Dyne Therapeutics
Dyne Therapeutics, Inc., a muscle disease company, operates as a biotechnology company that is focused on advancing therapies for genetically-based muscle diseases in the United States. It develops various programs for myotonic dystrophy type 1, Duchenne muscular dystrophy and facioscapulohumeral dystrophy, as well as for rare diseases of skeletal muscle and cardiac and metabolic muscle using its FORCE platform which delivers disease-modifying therapeutics .
This instant news alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Before you consider Dyne Therapeutics, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five actions that top analysts are quietly whispering to their clients to buy now before the market spreads…and Dyne Therapeutics was not on the list.
Although Dyne Therapeutics currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.