Dyne Therapeutics (NASDAQ:DYN) Shares Gap Up – Here’s What Happened

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) gapped up before the market opened on Friday . The stock had previously closed at $25.61, but opened at $26.42. Dyne Therapeutics shares last traded at $25.71, with a volume of 40,896 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have commented on DYN. HC Wainwright restated a “buy” rating and set a $55.00 price target on shares of Dyne Therapeutics in a research note on Wednesday, November 13th. Guggenheim boosted their price target on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Oppenheimer reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Dyne Therapeutics in a report on Tuesday, September 3rd. Stifel Nicolaus lifted their price objective on shares of Dyne Therapeutics from $41.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. downgraded shares of Dyne Therapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $43.00 to $35.00 in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Dyne Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $50.42.

Dyne Therapeutics Price Performance

The company has a market capitalization of $2.60 billion, a PE ratio of -7.19 and a beta of 1.09. The firm’s 50 day moving average is $30.53 and its 200 day moving average is $35.24.

Dyne Therapeutics (NASDAQ:DYN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.25). As a group, analysts predict that Dyne Therapeutics, Inc. will post -3.45 EPS for the current fiscal year.

Insider Activity

In other Dyne Therapeutics news, COO Susanna Gatti High sold 8,976 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 131,636 shares in the company, valued at $4,529,594.76. This represents a 6.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Richard William Scalzo sold 1,390 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now owns 98,568 shares of the company’s stock, valued at $3,405,524.40. This represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 180,046 shares of company stock valued at $6,300,265 in the last quarter. 20.77% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. FMR LLC boosted its holdings 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 valued at $324,239,000 after acquiring an additional 3,707,734 shares during the last quarter. RTW Investments LP boosted its holdings in Dyne Therapeutics by 6.8% during the third quarter. RTW Investments LP now owns 6,818,641 shares of the company’s stock worth $244,926,000 after buying an additional 431,503 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Dyne Therapeutics by 47.3% during the third quarter. Janus Henderson Group PLC now owns 6,813,163 shares of the company’s stock worth $244,755,000 after buying an additional 2,189,339 shares in the last quarter. RA Capital Management L.P. boosted its holdings in Dyne Therapeutics by 5.5% during the third quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company’s stock worth $229,211,000 after buying an additional 331,940 shares in the last quarter. Finally, State Street Corp boosted its holdings in Dyne Therapeutics by 13.8% during the third quarter. State Street Corp now owns 3,641,859 shares of the company’s stock worth $130,816,000 after buying an additional 440,890 shares in the last quarter. Institutional investors own 96.68% of the company’s stock.

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.