Dyne Therapeutics (NYSE:DYN) Stock Price Up 6.7%

Dyne Therapeutics, Inc. (NYSE:DYN)’s stock price shot up 6.7% on Monday . The company traded as high as $9.88 and last traded at $9.88. 553,238 shares changed hands during trading, an increase of 32% from the average session volume of 420,326 shares. The stock had previously closed at $9.26.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Chardan Capital restated a “buy” rating and set a $20.00 price objective on shares of Dyne Therapeutics in a report on Friday, August 4th. JPMorgan Chase & Co. upped their target price on shares of Dyne Therapeutics from $20.00 to $22.00 and gave the stock an “overweight” rating in a report on Wednesday, August 9th. Finally, StockNews.com initiated coverage on Dyne Therapeutics in a research note on Thursday, August 17th. They issued a “sell” rating for the company. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.20.

Dyne Therapeutics Stock Performance

The stock has a market cap of $608.37 million, a PE ratio of -2.91 and a beta of 0.16. The business’s 50 day moving average price is $11.08.

Dyne Therapeutics (NYSE:DYN) last posted its quarterly earnings data on Thursday, August 3rd. The company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.27). Analysts forecast that Dyne Therapeutics, Inc. will post -3.57 earnings per share for the current year.

Institutional Investors Weigh In On Dyne Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Braidwell LP bought a new stake in shares of Dyne Therapeutics in the fourth quarter valued at approximately $8,729,000. HRT Financial LP purchased a new position in shares of Dyne Therapeutics in the fourth quarter valued at $195,000. EcoR1 Capital LLC purchased a new position in shares of Dyne Therapeutics in the fourth quarter valued at $26,916,000. Integral Health Asset Management LLC purchased a new position in Dyne Therapeutics during the 1st quarter valued at about $657,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Dyne Therapeutics by 22.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,123 shares of the company’s stock valued at $198,000 after acquiring an additional 3,172 shares in the last quarter. 96.68% of the stock is currently owned by institutional investors.

About Dyne Therapeutics

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.