Dyne Therapeutics (NASDAQ:DYN) Sees Unusually-High Trading Volume – Time to Buy?

Dyne Therapeutics, Inc. (NASDAQ:DYN) shares saw unusually-high trading volume on Wednesday . Approximately 3,220,113 shares traded hands during 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

Several analysts have recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Dyne Therapeutics in a research report on Wednesday, October 8th. Evercore ISI reaffirmed an “outperform” rating and issued a $38.00 target price on shares of Dyne Therapeutics in a research note on Thursday, November 6th. Raymond James Financial reissued a “strong-buy” rating and set a $40.00 price target on shares of Dyne Therapeutics in a research report on Monday. Sanford C. Bernstein set a $23.00 price objective on Dyne Therapeutics in a research report on Tuesday. Finally, Oppenheimer raised Dyne Therapeutics from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $11.00 to $40.00 in a research note on Wednesday. Three investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.59.

Dyne Therapeutics Price Performance

The company has a 50-day moving average of $19.05 and a two-hundred day moving average of $14.22. The company has a debt-to-equity ratio of 0.14, a current ratio of 13.47 and a quick ratio of 13.47. The stock has a market capitalization of $2.75 billion, a PE ratio of -5.27 and a beta of 1.30.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($0.76) EPS for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.05. Sell-side analysts predict that Dyne Therapeutics, Inc. will post -3.44 EPS for the current fiscal year.

Hedge Funds Weigh In On Dyne Therapeutics

Large investors have recently bought and sold shares of the stock. Darwin Wealth Management LLC raised its stake in shares of Dyne Therapeutics by 0.5% during the third quarter. Darwin Wealth Management LLC now owns 173,517 shares of the company’s stock valued at $2,195,000 after purchasing an additional 861 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Dyne Therapeutics by 11.1% during the 2nd 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 in the last quarter. Creative Planning grew its holdings in Dyne Therapeutics by 6.8% during 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 stake 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 buying an additional 1,109 shares during the period. Finally, Caxton Associates LLP lifted its holdings in Dyne Therapeutics by 10.9% in 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. 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.