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

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

Insider Activity at Dyne Therapeutics

In other Dyne Therapeutics news, COO Susanna Gatti High sold 10,163 shares of Dyne Therapeutics stock in a transaction on Monday, June 24th. The shares were sold at an average price of $35.33, for a total value of $359,058.79. Following the transaction, the chief operating officer now directly owns 148,792 shares in the company, valued at $5,256,821.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Richard William Scalzo sold 1,390 shares of Dyne Therapeutics stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $34.55, for a total value of $48,024.50. Following the sale, the senior vice president now owns 98,568 shares of the company’s stock, valued at $3,405,524.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Susanna Gatti High sold 10,163 shares of Dyne Therapeutics stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $35.33, for a total value of $359,058.79. Following the completion of the sale, the chief operating officer now directly owns 148,792 shares in the company, valued at approximately $5,256,821.36. The disclosure for this sale can be found here. Insiders sold a total of 22,868 shares of company stock valued at $796,760 in the last three months. 20.77% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dyne Therapeutics

Several large investors have recently added to or reduced their stakes in the stock. Nisa Investment Advisors LLC raised its holdings in shares of Dyne Therapeutics by 904.1% during the second quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock valued at $26,000 after acquiring an additional 669 shares during the period. Amalgamated Bank increased its stake in shares of Dyne Therapeutics by 39.9% in the second quarter. Amalgamated Bank now owns 2,792 shares of the company’s stock worth $99,000 after purchasing an additional 796 shares during the period. Ameritas Investment Partners Inc. lifted 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 during the last quarter. Public Employees Retirement Association of Colorado acquired a new position in shares of Dyne Therapeutics during the second quarter valued at about $203,000. Finally, Farallon Capital Management LLC bought a new stake in shares of Dyne Therapeutics during the second quarter valued at approximately $212,000. 96.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on DYN. HC Wainwright reiterated a “buy” rating and issued a $55.00 price objective on shares of Dyne Therapeutics in a research report on Wednesday, September 4th. Oppenheimer reiterated an “outperform” rating and set a $55.00 target price on shares of Dyne Therapeutics in a report on Tuesday, September 3rd. Guggenheim boosted their price target on Dyne Therapeutics from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Morgan Stanley increased their price objective on Dyne Therapeutics from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Dyne Therapeutics from $39.00 to $43.00 and gave the company an “overweight” rating in a research report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.40.

Dyne Therapeutics Price Performance

NASDAQ:DYN opened at $36.41 on Friday. The firm has a 50-day moving average of $41.28 and a two-hundred day moving average of $33.47. The stock has a market cap of $3.18 billion, a P/E ratio of -9.17 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 posted its quarterly earnings results on Monday, August 12th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.02. As a group, equities analysts expect that Dyne Therapeutics will post -2.96 earnings per share for the current year.

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.