Dyne Therapeutics, Inc. (NASDAQ:DYN – Get Rating) shares traded up 4.6% on Wednesday after Piper Sandler raised their price target on the stock from $17.00 to $23.00. The stock traded as high as $12.21 and last traded at $12.21. 100 shares traded hands during mid-day trading, a decline of 100% from the average session volume of 226,386 shares. The stock had previously closed at $11.67.
Several other research firms also recently weighed in on DYN. Raymond James assumed coverage on shares of Dyne Therapeutics in a research report on Monday, July 11th. They issued an "outperform" rating and a $15.00 target price for the company. Chardan Capital assumed coverage on shares of Dyne Therapeutics in a research report on Wednesday, July 20th. They set a "buy" rating and a $17.00 price objective for the company. One analyst has rated the stock with a sell rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $21.00.
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Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of DYN. Deep Track Capital LP acquired a new stake in shares of Dyne Therapeutics in the 4th quarter worth approximately $27,255,000. Franklin Resources Inc. lifted its stake in shares of Dyne Therapeutics by 48.3% in the 2nd quarter. Franklin Resources Inc. now owns 1,746,481 shares of the company's stock worth $11,999,000 after acquiring an additional 568,533 shares during the period. Point72 Asset Management L.P. lifted its stake in shares of Dyne Therapeutics by 51.7% in the 4th quarter. Point72 Asset Management L.P. now owns 1,254,800 shares of the company's stock worth $14,920,000 after acquiring an additional 427,800 shares during the period. Woodline Partners LP lifted its stake in shares of Dyne Therapeutics by 58.0% in the 1st quarter. Woodline Partners LP now owns 813,139 shares of the company's stock worth $7,839,000 after acquiring an additional 298,538 shares during the period. Finally, Monashee Investment Management LLC lifted its stake in Dyne Therapeutics by 193.5% during the first quarter. Monashee Investment Management LLC now owns 279,704 shares of the company's stock valued at $2,696,000 after purchasing an additional 184,404 shares during the last quarter. 90.22% of the stock is owned by institutional investors and hedge funds.
Dyne Therapeutics Stock Up 18.3 %
The firm has a market capitalization of $714.36 million, a price-to-earnings ratio of -3.91 and a beta of 0.70. The firm's 50 day moving average is $11.17 and its 200 day moving average is $8.25.
Dyne Therapeutics (NASDAQ:DYN – Get Rating) last released its earnings results on Thursday, August 4th. The company reported ($1.01) EPS for the quarter, missing the consensus estimate of ($0.79) by ($0.22). On average, sell-side analysts predict that Dyne Therapeutics, Inc. will post -3.59 earnings per share for the current year.
About Dyne Therapeutics
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Dyne Therapeutics, Inc, a muscle disease company, operates as a biotechnology company that focuses on advancing therapeutics for genetically driven muscle diseases in the United States. It develops various programs for 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.
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