Dyne Therapeutics (NASDAQ:DYN) Shares Up 7.9% on Insider Buying Activity

Dyne Therapeutics, Inc. (NASDAQ:DYN)’s share price shot up 7.9% during trading on Wednesday following insider buying activity. The company traded as high as $34.72 and last traded at $34.47. 1,286,476 shares changed hands during trading, a decline of 20% from the average session volume of 1,605,016 shares. The stock had previously closed at $31.94.

Specifically, CEO John Cox purchased 32,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price of $33.04 per share, for a total transaction of $1,057,280.00. Following the purchase, the chief executive officer now directly owns 8,000 shares of the company’s stock, valued at approximately $264,320. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

DYN has been the topic of a number of recent research reports. Stifel Nicolaus raised their target price on Dyne Therapeutics from $41.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, August 16th. HC Wainwright reaffirmed a “buy” rating and set a $55.00 price objective on shares of Dyne Therapeutics in a research report on Wednesday. Jefferies Financial Group upped their target price on shares of Dyne Therapeutics from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, May 20th. Chardan Capital raised their price target on Dyne Therapeutics from $31.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, May 21st. Finally, Oppenheimer restated an “outperform” rating and issued a $55.00 price objective on shares of Dyne Therapeutics in a research report on Tuesday. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $51.40.

Dyne Therapeutics Price Performance

The company has a market capitalization of $2.89 billion, a PE ratio of -7.98 and a beta of 1.07. The company’s fifty day moving average is $41.63 and its 200-day moving average is $32.84.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.02. Equities research analysts forecast that Dyne Therapeutics, Inc. will post -2.96 EPS for the current fiscal year.

Institutional Trading of Dyne Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DYN. Nisa Investment Advisors LLC lifted its position in Dyne Therapeutics by 904.1% during the second quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock worth $26,000 after buying an additional 669 shares in the last quarter. Wetzel Investment Advisors Inc. purchased a new stake in shares of Dyne Therapeutics during the first quarter worth $28,000. Amalgamated Bank raised its position in Dyne Therapeutics by 39.9% in the 2nd quarter. Amalgamated Bank now owns 2,792 shares of the company’s stock valued at $99,000 after purchasing an additional 796 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new stake in Dyne Therapeutics in the second quarter valued at approximately $203,000. Finally, Ameritas Investment Partners Inc. lifted its position in shares of Dyne Therapeutics by 28.0% during the 1st quarter. Ameritas Investment Partners Inc. now owns 5,896 shares of the company’s stock worth $167,000 after purchasing an additional 1,291 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.