Short Interest in Dyne Therapeutics, Inc. (NASDAQ:DYN) Decreases By 6.9%

Dyne Therapeutics, Inc. (NASDAQ:DYN) was the target of a significant decline in short interest in August. As of August 31st, there was short interest totalling 6,870,000 shares, a decline of 6.9% from the August 15th total of 7,380,000 shares. Based on an average daily trading volume, of 1,280,000 shares, the days-to-cover ratio is currently 5.4 days.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Morgan Stanley increased their target price on shares of Dyne Therapeutics from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. StockNews.com downgraded Dyne Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday. Stifel Nicolaus upped their price target on Dyne Therapeutics from $41.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, August 16th. Oppenheimer reiterated an “outperform” rating and issued a $55.00 price objective on shares of Dyne Therapeutics in a research report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Dyne Therapeutics from $39.00 to $43.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Dyne Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.40.

Insider Transactions at Dyne Therapeutics

In other news, CEO John Cox acquired 32,000 shares of Dyne Therapeutics stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average cost of $33.04 per share, for a total transaction of $1,057,280.00. Following the acquisition, the chief executive officer now owns 8,000 shares of the company’s stock, valued at $264,320. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, COO Susanna Gatti High sold 29,787 shares of the business’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $35.01, for a total value of $1,042,842.87. Following the completion of the sale, the chief operating officer now directly owns 148,792 shares of the company’s stock, valued at approximately $5,209,207.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Cox bought 32,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was purchased at an average cost of $33.04 per share, with a total value of $1,057,280.00. Following the completion of the transaction, the chief executive officer now owns 8,000 shares in the company, valued at $264,320. The disclosure for this purchase can be found here. Corporate insiders own 20.77% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DYN. Nisa Investment Advisors LLC raised its holdings in shares of Dyne Therapeutics by 904.1% in the second quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock worth $26,000 after acquiring an additional 669 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Dyne Therapeutics by 39.9% during the 2nd quarter. Amalgamated Bank now owns 2,792 shares of the company’s stock worth $99,000 after purchasing an additional 796 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in shares of Dyne Therapeutics by 28.0% during the first quarter. Ameritas Investment Partners Inc. now owns 5,896 shares of the company’s stock worth $167,000 after buying an additional 1,291 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new position in shares of Dyne Therapeutics in the second quarter valued at approximately $203,000. Finally, Farallon Capital Management LLC purchased a new position in shares of Dyne Therapeutics during the second quarter valued at approximately $212,000. 96.68% of the stock is currently owned by institutional investors and hedge funds.

Dyne Therapeutics Stock Performance

Shares of DYN stock opened at $34.60 on Wednesday. The stock has a fifty day moving average price of $41.43 and a 200 day moving average price of $33.43. The stock has a market cap of $3.02 billion, a PE ratio of -8.72 and a beta of 1.07. Dyne Therapeutics has a 1 year low of $6.40 and a 1 year high of $47.45.

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

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.