Dyne Therapeutics (NASDAQ:DYN) Earns “Buy” Rating from HC Wainwright

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “buy” rating restated by analysts at HC Wainwright in a report released on Friday,Benzinga reports. They presently have a $55.00 target price on the stock. HC Wainwright’s target price indicates a potential upside of 250.77% from the company’s previous close.

A number of other research firms have also weighed in on DYN. JPMorgan Chase & Co. lowered shares of Dyne Therapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $43.00 to $35.00 in a research note on Thursday, October 24th. Raymond James upgraded Dyne Therapeutics to a “strong-buy” rating in a research report on Thursday, December 12th. Baird R W upgraded Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. Royal Bank of Canada initiated coverage on Dyne Therapeutics in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $45.00 target price for the company. Finally, Piper Sandler reissued an “overweight” rating and issued a $53.00 price objective on shares of Dyne Therapeutics in a report on Monday, September 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $49.91.

Dyne Therapeutics Stock Performance

Shares of DYN traded down $7.37 during trading hours on Friday, hitting $15.68. 3,705,905 shares of the stock were exchanged, compared to its average volume of 1,425,354. The stock’s 50-day moving average price is $27.29 and its two-hundred day moving average price is $34.15. Dyne Therapeutics has a 12-month low of $15.22 and a 12-month high of $47.45. The company has a market cap of $1.60 billion, a price-to-earnings ratio of -4.40 and a beta of 1.16.

Dyne Therapeutics (NASDAQ:DYN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.25). On average, research analysts expect that Dyne Therapeutics will post -3.45 earnings per share for the current year.

Insider Transactions at Dyne Therapeutics

In other Dyne Therapeutics news, Director Dirk Kersten sold 23,671 shares of Dyne Therapeutics stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $35.35, for a total value of $836,769.85. Following the completion of the transaction, the director now directly owns 99,652 shares of the company’s stock, valued at $3,522,698.20. The trade was a 19.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Jason P. Rhodes sold 782 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $33.10, for a total transaction of $25,884.20. Following the sale, the director now directly owns 15,962 shares in the company, valued at $528,342.20. This represents a 4.67 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,742 shares of company stock worth $1,443,246. 20.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dyne Therapeutics

Several large investors have recently added to or reduced their stakes in DYN. JPMorgan Chase & Co. boosted its position in Dyne Therapeutics by 4.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 101,750 shares of the company’s stock valued at $3,655,000 after buying an additional 4,236 shares during the period. Virtue Capital Management LLC boosted its holdings in Dyne Therapeutics by 4.4% in the third quarter. Virtue Capital Management LLC now owns 23,208 shares of the company’s stock valued at $834,000 after purchasing an additional 981 shares during the period. Geode Capital Management LLC boosted its holdings in Dyne Therapeutics by 4.8% in the third quarter. Geode Capital Management LLC now owns 1,859,413 shares of the company’s stock valued at $66,802,000 after purchasing an additional 84,760 shares during the period. Barclays PLC increased its holdings in Dyne Therapeutics by 162.2% during the 3rd quarter. Barclays PLC now owns 207,309 shares of the company’s stock worth $7,446,000 after purchasing an additional 128,246 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Dyne Therapeutics in the 3rd quarter valued at about $1,067,000. 96.68% of the stock is owned by hedge funds and other institutional investors.

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.