Dyne Therapeutics (NASDAQ:DYN) Sees Strong Trading Volume – Here’s What Happened

Dyne Therapeutics, Inc. (NASDAQ:DYN) saw unusually-strong trading volume on Wednesday . Approximately 3,220,113 shares traded hands during mid-day trading, an increase of 21% from the previous session’s volume of 2,668,732 shares.The stock last traded at $20.1030 and had previously closed at $18.44.

Wall Street Analyst Weigh In

DYN has been the subject of a number of research analyst reports. HC Wainwright raised their target price on Dyne Therapeutics from $46.00 to $60.00 and gave the company a “buy” rating in a research note on Monday. Sanford C. Bernstein set a $23.00 price objective on Dyne Therapeutics in a research report on Tuesday. Evercore ISI reissued an “outperform” rating and issued a $38.00 target price on shares of Dyne Therapeutics in a report on Thursday, November 6th. Chardan Capital reaffirmed a “buy” rating and set a $38.00 price target on shares of Dyne Therapeutics in a report on Tuesday. Finally, Lifesci Capital upgraded Dyne Therapeutics to a “strong-buy” rating in a report on Tuesday, October 14th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $38.41.

Dyne Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.14, a quick ratio of 13.47 and a current ratio of 13.47. The stock’s 50 day moving average is $18.77 and its two-hundred day moving average is $14.14. The stock has a market capitalization of $2.78 billion, a PE ratio of -5.31 and a beta of 1.30.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings data on Wednesday, November 5th. The company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.81) by $0.05. On average, equities analysts anticipate that Dyne Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Darwin Wealth Management LLC raised its position in Dyne Therapeutics by 0.5% during the 3rd quarter. Darwin Wealth Management LLC now owns 173,517 shares of the company’s stock worth $2,195,000 after buying an additional 861 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in Dyne Therapeutics by 11.1% in the second quarter. Ameritas Investment Partners Inc. now owns 9,582 shares of the company’s stock valued at $91,000 after purchasing an additional 955 shares during the period. Creative Planning boosted its holdings in Dyne Therapeutics by 6.8% in the 3rd quarter. Creative Planning now owns 15,527 shares of the company’s stock valued at $196,000 after purchasing an additional 986 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in Dyne Therapeutics by 25.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,500 shares of the company’s stock worth $70,000 after purchasing an additional 1,109 shares during the period. Finally, Caxton Associates LLP raised its stake in shares of Dyne Therapeutics by 10.9% during the 2nd quarter. Caxton Associates LLP now owns 16,599 shares of the company’s stock worth $158,000 after buying an additional 1,627 shares in the last quarter. 96.68% of the stock is owned by institutional investors and hedge funds.

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.