Dyne Therapeutics (NASDAQ:DYN) Shares Gap Up – Time to Buy?

Dyne Therapeutics, Inc. (NASDAQ:DYN) shares gapped up prior to trading 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 changing hands.

Analyst Ratings Changes

A number of research firms recently weighed in on DYN. Robert W. Baird assumed coverage on shares of Dyne Therapeutics in a research note on Friday, December 13th. They set an “outperform” rating and a $46.00 target price on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $45.00 price objective on shares of Dyne Therapeutics in a report on Tuesday, January 14th. Baird R W raised Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. BMO Capital Markets initiated coverage on shares of Dyne Therapeutics in a report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price objective on the stock. Finally, Scotiabank initiated coverage on shares of Dyne Therapeutics in a report on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 target price for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Dyne Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $48.85.

Dyne Therapeutics Trading Up 1.9 %

The business has a 50 day moving average price of $14.58 and a 200-day moving average price of $25.13. The firm has a market capitalization of $1.39 billion, a PE ratio of -3.44 and a beta of 1.11.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings results on Tuesday, March 4th. The company reported ($0.88) EPS for the quarter, topping the consensus estimate of ($0.92) by $0.04. On average, equities research analysts forecast that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of New Jersey Common Pension Fund D purchased a new position in shares of Dyne Therapeutics in the third quarter valued at $1,588,000. Jennison Associates LLC increased its position in shares of Dyne Therapeutics by 1.5% during the third quarter. Jennison Associates LLC now owns 1,346,952 shares of the company’s stock worth $48,383,000 after acquiring an additional 19,730 shares during the last quarter. abrdn plc purchased a new position in Dyne Therapeutics in the fourth quarter valued at about $608,000. RA Capital Management L.P. grew its stake in Dyne Therapeutics by 5.5% during the 3rd quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company’s stock valued at $229,211,000 after purchasing an additional 331,940 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Dyne Therapeutics by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,859,413 shares of the company’s stock worth $66,802,000 after purchasing an additional 84,760 shares during 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.