Dyne Therapeutics, Inc. (NASDAQ:DYN) Short Interest Up 9.1% in October

Dyne Therapeutics, Inc. (NASDAQ:DYN) was the target of a large increase in short interest in October. As of October 31st, there was short interest totalling 9,940,000 shares, an increase of 9.1% from the October 15th total of 9,110,000 shares. Based on an average daily volume of 1,230,000 shares, the days-to-cover ratio is presently 8.1 days.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DYN. Chardan Capital restated a “buy” rating and issued a $50.00 target price on shares of Dyne Therapeutics in a report on Wednesday, November 13th. Morgan Stanley increased their target price on shares of Dyne Therapeutics from $48.00 to $52.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Stifel Nicolaus increased their price target on Dyne Therapeutics from $41.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price target on shares of Dyne Therapeutics in a research note on Wednesday, November 13th. Finally, 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. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.40.

Dyne Therapeutics Stock Performance

Dyne Therapeutics stock traded up $0.95 during trading hours on Monday, reaching $29.34. 1,268,312 shares of the company’s stock traded hands, compared to its average volume of 1,493,929. The firm’s 50 day moving average is $32.48 and its 200-day moving average is $35.24. The firm has a market capitalization of $2.99 billion, a price-to-earnings ratio of -7.97 and a beta of 1.10. Dyne Therapeutics has a fifty-two week low of $10.03 and a fifty-two week high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.25). Analysts predict that Dyne Therapeutics will post -3.39 EPS for the current year.

Insider Buying and Selling

In other Dyne Therapeutics news, Director Dirk Kersten sold 23,671 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $35.35, for a total transaction of $836,769.85. Following the sale, the director now directly owns 99,652 shares of the company’s stock, valued at $3,522,698.20. This represents a 19.19 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Richard William Scalzo sold 1,390 shares of the firm’s 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 completion of the sale, the senior vice president now directly owns 98,568 shares in the company, valued at approximately $3,405,524.40. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 158,975 shares of company stock worth $5,693,789 in the last three months. 20.77% of the stock is owned by corporate insiders.

Institutional Trading of Dyne Therapeutics

Hedge funds have recently bought and sold shares of the business. Virtue Capital Management LLC raised its stake in Dyne Therapeutics by 4.4% in the 3rd quarter. Virtue Capital Management LLC now owns 23,208 shares of the company’s stock valued at $834,000 after acquiring an additional 981 shares during the period. Geode Capital Management LLC boosted its position 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 valued at $66,802,000 after buying an additional 84,760 shares during the period. Barclays PLC raised its stake in Dyne Therapeutics by 162.2% in the third quarter. Barclays PLC now owns 207,309 shares of the company’s stock worth $7,446,000 after buying an additional 128,246 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Dyne Therapeutics during the 3rd quarter valued at about $1,067,000. Finally, XTX Topco Ltd purchased a new position in Dyne Therapeutics in the 3rd quarter worth approximately $573,000. Institutional investors and hedge funds 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.