Dyne Therapeutics’ (DYN) Outperform Rating Reaffirmed at Royal Bank of Canada

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “outperform” rating reissued by Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They currently have a $45.00 price target on the stock. Royal Bank of Canada’s target price suggests a potential upside of 198.21% from the company’s current price.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. cut Dyne Therapeutics from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $43.00 to $35.00 in a research report on Thursday, October 24th. Chardan Capital reissued a “buy” rating and issued a $50.00 price target on shares of Dyne Therapeutics in a research note on Friday. StockNews.com downgraded shares of Dyne Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Baird R W upgraded shares of Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. Finally, Raymond James upgraded shares of Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating, ten have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.91.

Dyne Therapeutics Trading Down 1.3 %

Shares of NASDAQ DYN traded down $0.20 during mid-day trading on Tuesday, reaching $15.09. The company had a trading volume of 335,713 shares, compared to its average volume of 2,268,373. The company has a 50-day moving average price of $26.77 and a two-hundred day moving average price of $33.88. The stock has a market cap of $1.54 billion, a PE ratio of -4.24 and a beta of 1.16. Dyne Therapeutics has a 1-year low of $14.79 and a 1-year high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.25). On average, research analysts expect that Dyne Therapeutics will post -3.44 EPS for the current year.

Insider Activity at Dyne Therapeutics

In other news, Director Dirk Kersten sold 23,671 shares of Dyne Therapeutics stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $35.35, for a total transaction of $836,769.85. Following the sale, the director now directly owns 99,652 shares in the company, valued at approximately $3,522,698.20. The trade was a 19.19 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the transaction, the director now directly owns 15,962 shares of the company’s stock, valued at $528,342.20. This trade represents a 4.67 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 44,742 shares of company stock worth $1,443,246 over the last three months. Company insiders own 20.77% of the company’s stock.

Institutional Investors Weigh In On Dyne Therapeutics

A number of hedge funds have recently made changes to their positions in DYN. State of New Jersey Common Pension Fund D acquired a new position in Dyne Therapeutics in the third quarter worth $1,588,000. Seven Eight Capital LP lifted its position in Dyne Therapeutics by 195.7% during the 2nd quarter. Seven Eight Capital LP now owns 53,739 shares of the company’s stock worth $1,896,000 after buying an additional 35,568 shares in the last quarter. Jennison Associates LLC grew its holdings in Dyne Therapeutics by 1.5% during the 3rd quarter. Jennison Associates LLC now owns 1,346,952 shares of the company’s stock worth $48,383,000 after acquiring an additional 19,730 shares during the last quarter. Mutual of America Capital Management LLC bought a new stake in Dyne Therapeutics during the 2nd quarter worth about $1,724,000. Finally, RA Capital Management L.P. increased its position in Dyne Therapeutics by 5.5% in the 3rd quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company’s stock valued at $229,211,000 after acquiring an additional 331,940 shares in the last quarter. Institutional investors and hedge funds 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.