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

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

Specifically, CEO John Cox bought 32,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were bought at an average cost of $33.04 per share, with a total value of $1,057,280.00. Following the completion of the purchase, the chief executive officer now directly owns 8,000 shares in the company, valued at $264,320. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Wall Street Analyst Weigh In

DYN has been the topic of a number of analyst reports. Jefferies Financial Group boosted their price objective on shares of Dyne Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, May 20th. Stifel Nicolaus upped their price target on Dyne Therapeutics from $41.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, August 16th. StockNews.com upgraded Dyne Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, August 30th. Oppenheimer reissued an “outperform” rating and set a $55.00 target price on shares of Dyne Therapeutics in a research note on Tuesday. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $55.00 price target on shares of Dyne Therapeutics in a research note on Wednesday. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Dyne Therapeutics currently has an average rating of “Buy” and a consensus target price of $51.40.

Dyne Therapeutics Stock Down 1.8 %

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

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.02. On average, equities research analysts expect that Dyne Therapeutics, Inc. will post -2.96 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dyne Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. RA Capital Management L.P. bought a new position in shares of Dyne Therapeutics during the 1st quarter valued at $140,666,000. Janus Henderson Group PLC lifted its holdings in Dyne Therapeutics by 23,512.0% in the first quarter. Janus Henderson Group PLC now owns 2,675,240 shares of the company’s stock valued at $75,915,000 after acquiring an additional 2,663,910 shares during the period. Frazier Life Sciences Management L.P. purchased a new position in Dyne Therapeutics in the fourth quarter worth about $15,758,000. Price T Rowe Associates Inc. MD grew its stake in shares of Dyne Therapeutics by 8,284.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,132,092 shares of the company’s stock valued at $32,141,000 after purchasing an additional 1,118,590 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Dyne Therapeutics by 47.7% during the 1st quarter. Vanguard Group Inc. now owns 3,440,270 shares of the company’s stock valued at $97,669,000 after purchasing an additional 1,110,629 shares during the last quarter. Institutional investors 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.