Dyne Therapeutics Sees Unusually High Options Volume (NASDAQ:DYN)

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) was the target of some unusual options trading activity on Tuesday. Stock traders acquired 20,532 call options on the company. This represents an increase of 4,325% compared to the typical volume of 464 call options. In related news, Director Jason P. Rhodes sold 2,160,516 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The shares were sold at an average price of $25.00, for a total transaction of $54,012,900.00. Following the completion of the sale, the director owned 428,946 shares of the company's stock, valued at $10,723,650. This trade represents a 83.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Erick Lucera sold 2,362 shares of the company's stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $20.37, for a total value of $48,113.94. Following the completion of the transaction, the chief financial officer directly owned 121,563 shares in the company, valued at $2,476,238.31. This trade represents a 1.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 4,139,196 shares of company stock valued at $99,449,852 over the last ninety days. Corporate insiders own 9.46% of the company's stock. Several hedge funds and other institutional investors have recently modified their holdings of DYN. T. Rowe Price Investment Management Inc. raised its position in shares of Dyne Therapeutics by 523.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,540,089 shares of the company's stock valued at $343,085,000 after purchasing an additional 14,727,667 shares during the period. BlackRock Inc. bought a new position in Dyne Therapeutics in the 2nd quarter worth $275,500,000. Jupiter Topco LLC purchased a new stake in Dyne Therapeutics in the 2nd quarter worth $266,634,000. State Street Corp increased its stake in Dyne Therapeutics by 27.0% in the 4th quarter. State Street Corp now owns 6,692,745 shares of the company's stock worth $130,910,000 after buying an additional 1,423,828 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its position in shares of Dyne Therapeutics by 45.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,172,000 shares of the company's stock valued at $101,164,000 after acquiring an additional 1,618,000 shares in the last quarter. 96.68% of the stock is currently owned by hedge funds and other institutional investors. NASDAQ:DYN traded down $3.72 on Tuesday, hitting $20.56. The stock had a trading volume of 8,258,039 shares, compared to its average volume of 2,094,361. The business's 50-day simple moving average is $24.86 and its two-hundred day simple moving average is $20.45. The stock has a market cap of $3.84 billion, a price-to-earnings ratio of -6.23 and a beta of 1.08. Dyne Therapeutics has a 52-week low of $11.92 and a 52-week high of $27.31. The company has a quick ratio of 12.02, a current ratio of 12.02 and a debt-to-equity ratio of 0.28. Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.33). As a group, research analysts predict that Dyne Therapeutics will post -3.47 earnings per share for the current year. Several research firms recently commented on DYN. Morgan Stanley dropped their price objective on Dyne Therapeutics from $47.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, July 31st. TD Cowen started coverage on shares of Dyne Therapeutics in a research note on Friday, June 26th. They set a "buy" rating on the stock. Cantor Fitzgerald started coverage on shares of Dyne Therapeutics in a report on Thursday, July 23rd. They set an "overweight" rating on the stock. Sanford C. Bernstein lifted their price target on shares of Dyne Therapeutics from $23.00 to $24.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 13th. Finally, Royal Bank Of Canada boosted their price objective on shares of Dyne Therapeutics from $30.00 to $35.00 and gave the company an "outperform" rating in a report on Thursday, July 30th. Two analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $34.42. Get Our Latest Report on Dyne Therapeutics Dyne Therapeutics is a clinical-stage biotechnology company specializing in the development of localized gene regulation therapies for serious rare diseases. The company's proprietary FORCE (Facilitated Orthogonal Receptor‐mediated Cargo Evaluation) platform is designed to enable targeted delivery of oligonucleotide and gene therapy modalities to skeletal and respiratory muscles. Dyne's lead programs focus on Duchenne muscular dystrophy (DMD), myotonic dystrophy type 1 (DM1) and facioscapulohumeral muscular dystrophy (FSHD), with preclinical and early clinical studies evaluating safety, tolerability and tissue specificity. Since its founding in 2019 by Flagship Pioneering, Dyne has advanced multiple product candidates using its modular delivery approach, which couples engineered ligands with therapeutic payloads to improve uptake into muscle cells. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com. Before you consider Dyne Therapeutics, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. 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