Dyne Therapeutics (NASDAQ:DYN) Shares Gap Up – Still a Buy?

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) gapped up before the market opened on Monday . The stock had previously closed at $12.05, but opened at $12.46. Dyne Therapeutics shares last traded at $12.21, with a volume of 437,345 shares changing hands.

Analyst Ratings Changes

DYN has been the subject of several recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 price target on shares of Dyne Therapeutics in a research report on Tuesday, January 14th. Chardan Capital reiterated a “buy” rating and set a $50.00 price target on shares of Dyne Therapeutics in a research report on Monday. BMO Capital Markets started coverage on Dyne Therapeutics in a report on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 price objective on the stock. Robert W. Baird started coverage on Dyne Therapeutics in a report on Friday, December 13th. They issued an “outperform” rating and a $46.00 price objective on the stock. Finally, Piper Sandler dropped their price objective on Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and two have assigned 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 $48.85.

Dyne Therapeutics Price Performance

The stock has a 50 day moving average price of $14.10 and a 200-day moving average price of $24.66. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -3.53 and a beta of 1.11.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.04. As a group, research analysts forecast that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current year.

Insiders Place Their Bets

In other Dyne Therapeutics news, insider Oxana Beskrovnaya sold 2,598 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $13.95, for a total transaction of $36,242.10. Following the transaction, the insider now owns 199,087 shares of the company’s stock, valued at approximately $2,777,263.65. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 6,237 shares of company stock valued at $77,760. Insiders own 20.77% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DYN. Quantbot Technologies LP purchased a new stake in Dyne Therapeutics in the third quarter valued at $34,000. Point72 DIFC Ltd purchased a new stake in Dyne Therapeutics in the third quarter valued at $36,000. GF Fund Management CO. LTD. purchased a new stake in Dyne Therapeutics in the fourth quarter valued at $50,000. KBC Group NV raised its position in Dyne Therapeutics by 45.3% in the fourth quarter. KBC Group NV now owns 3,135 shares of the company’s stock valued at $74,000 after purchasing an additional 978 shares during the period. Finally, Quest Partners LLC raised its position in Dyne Therapeutics by 898.3% in the third quarter. Quest Partners LLC now owns 3,434 shares of the company’s stock valued at $123,000 after purchasing an additional 3,090 shares during the period. 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.