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

Dyne Therapeutics, Inc. (NASDAQ:DYN) was the target of a large growth in short interest in September. As of September 15th, there was short interest totalling 7,660,000 shares, a growth of 11.5% from the August 31st total of 6,870,000 shares. Based on an average daily volume of 1,340,000 shares, the days-to-cover ratio is currently 5.7 days.

Wall Street Analysts Forecast Growth

DYN has been the topic of a number of analyst reports. Guggenheim lifted their price objective on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Piper Sandler reiterated an “overweight” rating and set a $53.00 price target on shares of Dyne Therapeutics in a research note on Monday, September 23rd. Morgan Stanley lifted their price objective on Dyne Therapeutics from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. HC Wainwright reissued a “buy” rating and set a $55.00 target price on shares of Dyne Therapeutics in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. lifted their price target on Dyne Therapeutics from $39.00 to $43.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Dyne Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $51.40.

Dyne Therapeutics Stock Down 3.2 %

Shares of DYN traded down $1.16 on Tuesday, hitting $34.76. 850,247 shares of the stock traded hands, compared to its average volume of 1,588,912. The firm has a market capitalization of $3.04 billion, a P/E ratio of -9.05 and a beta of 1.07. Dyne Therapeutics has a 1 year low of $6.40 and a 1 year high of $47.45. The stock’s 50 day moving average is $40.11 and its two-hundred day moving average is $34.00.

Dyne Therapeutics (NASDAQ:DYN) last released its earnings results on Monday, August 12th. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.02. Research analysts forecast that Dyne Therapeutics will post -2.96 EPS for the current year.

Insider Activity

In other news, SVP Richard William Scalzo sold 1,390 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $34.55, for a total transaction of $48,024.50. Following the completion of the transaction, the senior vice president now directly owns 98,568 shares of the company’s stock, valued at approximately $3,405,524.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Dyne Therapeutics news, SVP Richard William Scalzo sold 1,390 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $34.55, for a total value of $48,024.50. Following the completion of the transaction, the senior vice president now owns 98,568 shares in the company, valued at $3,405,524.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dirk Kersten sold 79,411 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $36.45, for a total value of $2,894,530.95. Following the completion of the sale, the director now directly owns 234,127 shares of the company’s stock, valued at $8,533,929.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 135,304 shares of company stock worth $4,857,019. 20.77% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Trexquant Investment LP purchased a new stake in shares of Dyne Therapeutics during the 4th quarter valued at $304,000. Rafferty Asset Management LLC raised its holdings in shares of Dyne Therapeutics by 17.7% in the 4th quarter. Rafferty Asset Management LLC now owns 164,041 shares of the company’s stock worth $2,182,000 after purchasing an additional 24,632 shares during the period. Commodore Capital LP acquired a new position in shares of Dyne Therapeutics in the 4th quarter valued at about $11,970,000. Frazier Life Sciences Management L.P. purchased a new stake in shares of Dyne Therapeutics during the 4th quarter worth about $15,758,000. Finally, Octagon Capital Advisors LP increased its position in Dyne Therapeutics by 14.4% during the 4th quarter. Octagon Capital Advisors LP now owns 792,945 shares of the company’s stock worth $10,546,000 after purchasing an additional 100,000 shares in the last quarter. Institutional investors and hedge funds own 96.68% of the company’s stock.

About Dyne Therapeutics

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.