Dyne Therapeutics (NASDAQ:DYN) Stock Rating Reaffirmed by Piper Sandler

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “overweight” rating reissued by Piper Sandler in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $53.00 target price on the stock. Piper Sandler’s price target would suggest a potential upside of 58.68% from the stock’s previous close.

Other equities research analysts also recently issued reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $55.00 target price on shares of Dyne Therapeutics in a research note on Wednesday, September 4th. Oppenheimer reaffirmed an “outperform” rating and set a $55.00 target price on shares of Dyne Therapeutics in a report on Tuesday, September 3rd. StockNews.com cut shares of Dyne Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, September 16th. Stifel Nicolaus lifted their price objective on shares of Dyne Therapeutics from $41.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Morgan Stanley boosted their target price on shares of Dyne Therapeutics from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $51.40.

Dyne Therapeutics Stock Down 3.6 %

DYN opened at $33.40 on Monday. Dyne Therapeutics has a 12 month low of $6.40 and a 12 month high of $47.45. The company has a fifty day simple moving average of $40.68 and a 200 day simple moving average of $33.77. The stock has a market cap of $2.92 billion, a P/E ratio of -8.41 and a beta of 1.07.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.70) earnings per share for the quarter, beating the consensus estimate of ($0.72) by $0.02. On average, equities research analysts expect that Dyne Therapeutics will post -2.96 earnings per share for the current fiscal year.

Insider Transactions at Dyne Therapeutics

In other news, Director Dirk Kersten sold 40,831 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $35.32, for a total transaction of $1,442,150.92. Following the completion of the sale, the director now directly owns 193,296 shares of the company’s stock, valued at $6,827,214.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Dyne Therapeutics news, Director Dirk Kersten sold 40,831 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $35.32, for a total value of $1,442,150.92. Following the completion of the sale, the director now directly owns 193,296 shares of the company’s stock, valued at approximately $6,827,214.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Cox acquired 32,000 shares of Dyne Therapeutics stock in a transaction on Wednesday, September 4th. The stock was purchased at an average cost of $33.04 per share, with a total value of $1,057,280.00. Following the completion of the transaction, the chief executive officer now directly owns 8,000 shares in the company, valued at approximately $264,320. The disclosure for this purchase can be found here. Insiders sold a total of 132,947 shares of company stock valued at $4,774,383 over the last three months. Corporate insiders own 20.77% of the company’s stock.

Institutional Investors Weigh In On Dyne Therapeutics

A number of institutional investors have recently added to or reduced their stakes in DYN. Trexquant Investment LP bought a new stake in Dyne Therapeutics in the 4th quarter worth about $304,000. Rafferty Asset Management LLC boosted its stake in Dyne Therapeutics by 17.7% in the fourth quarter. Rafferty Asset Management LLC now owns 164,041 shares of the company’s stock valued at $2,182,000 after acquiring an additional 24,632 shares during the last quarter. Commodore Capital LP purchased a new position in Dyne Therapeutics in the fourth quarter valued at about $11,970,000. Frazier Life Sciences Management L.P. purchased a new position in Dyne Therapeutics in the fourth quarter valued at about $15,758,000. Finally, Octagon Capital Advisors LP boosted its stake in Dyne Therapeutics by 14.4% in the fourth quarter. Octagon Capital Advisors LP now owns 792,945 shares of the company’s stock valued at $10,546,000 after acquiring an additional 100,000 shares during the last quarter. 96.68% of the stock is owned by institutional investors.

Dyne Therapeutics Company Profile

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.