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

Dyne Therapeutics, Inc. (NASDAQ:DYN) gapped up before the market opened on Wednesday after an insider bought additional shares in the company. The stock had previously closed at $8.28, but opened at $8.97. Dyne Therapeutics shares last traded at $8.81, with a volume of 580,529 shares changing hands.

Specifically, CEO John Cox purchased 100,000 shares of the company’s stock in a transaction dated Monday, July 14th. The shares were acquired at an average cost of $9.11 per share, for a total transaction of $911,000.00. Following the completion of the purchase, the chief executive officer directly owned 242,179 shares in the company, valued at $2,206,250.69. The trade was a 70.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DYN. Evercore ISI restated an “outperform” rating on shares of Dyne Therapeutics in a research report on Friday, July 11th. Guggenheim restated a “buy” rating and issued a $50.00 price target on shares of Dyne Therapeutics in a research note on Wednesday, June 18th. Raymond James Financial began coverage on Dyne Therapeutics in a research report on Wednesday, June 11th. They issued an “outperform” rating and a $37.00 price objective for the company. Oppenheimer initiated coverage on Dyne Therapeutics in a report on Monday, June 2nd. They issued an “outperform” rating and a $34.00 target price for the company. Finally, HC Wainwright lowered their price target on shares of Dyne Therapeutics from $46.00 to $38.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $40.63.

Dyne Therapeutics Trading Up 12.7%

The firm has a market capitalization of $1.06 billion, a PE ratio of -2.60 and a beta of 1.08. The stock’s 50 day moving average price is $11.28 and its two-hundred day moving average price is $12.50.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings results on Thursday, May 8th. The company reported ($1.05) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.17). Analysts expect that Dyne Therapeutics, Inc. will post -3.44 earnings per share for the current year.

Institutional Trading of Dyne Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. lifted its stake in shares of Dyne Therapeutics by 9.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,627 shares of the company’s stock valued at $203,000 after buying an additional 721 shares during the period. China Universal Asset Management Co. Ltd. grew its stake in Dyne Therapeutics by 5.2% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 22,690 shares of the company’s stock worth $237,000 after acquiring an additional 1,115 shares during the period. Arizona State Retirement System raised its holdings in Dyne Therapeutics by 9.2% in the 1st quarter. Arizona State Retirement System now owns 17,501 shares of the company’s stock valued at $183,000 after acquiring an additional 1,481 shares during the last quarter. E Fund Management Co. Ltd. lifted its stake in shares of Dyne Therapeutics by 16.2% during the 1st quarter. E Fund Management Co. Ltd. now owns 13,771 shares of the company’s stock worth $144,000 after purchasing an additional 1,923 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of Dyne Therapeutics during the fourth quarter worth $50,000. Hedge funds and other 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.