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

HC Wainwright reiterated their buy rating on shares of Dyne Therapeutics (NASDAQ:DYN) in a report released on Wednesday morning,Benzinga reports. The brokerage currently has a $55.00 price target on the stock.

Several other research firms have also recently issued reports on DYN. JPMorgan Chase & Co. cut shares of Dyne Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $43.00 to $35.00 in a report on Thursday, October 24th. StockNews.com downgraded shares of Dyne Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Oppenheimer restated an “outperform” rating and set a $55.00 target price on shares of Dyne Therapeutics in a report on Tuesday, September 3rd. Guggenheim increased their price target on Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $53.00 price target on shares of Dyne Therapeutics in a research report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.40.

Dyne Therapeutics Stock Down 6.3 %

NASDAQ:DYN opened at $28.39 on Wednesday. Dyne Therapeutics has a fifty-two week low of $9.76 and a fifty-two week high of $47.45. The firm’s 50 day moving average is $32.48 and its two-hundred day moving average is $35.17. The company has a market cap of $2.89 billion, a P/E ratio of -7.97 and a beta of 1.10.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.25). Research analysts forecast that Dyne Therapeutics will post -3.02 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Oxana Beskrovnaya sold 2,339 shares of the stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $34.55, for a total value of $80,812.45. Following the transaction, the insider now directly owns 140,375 shares in the company, valued at $4,849,956.25. This trade represents a 1.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dirk Kersten sold 79,411 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $36.45, for a total transaction of $2,894,530.95. Following the sale, the director now owns 234,127 shares of the company’s stock, valued at $8,533,929.15. This trade represents a 25.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 158,975 shares of company stock valued at $5,693,789. 20.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Dyne Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of DYN. Nisa Investment Advisors LLC raised its position in Dyne Therapeutics by 904.1% in the second quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock worth $26,000 after acquiring an additional 669 shares during the period. Quantbot Technologies LP bought a new stake in Dyne Therapeutics in the third quarter valued at $34,000. Point72 DIFC Ltd bought a new stake in shares of Dyne Therapeutics during the 3rd quarter valued at $36,000. US Bancorp DE grew its stake in shares of Dyne Therapeutics by 776.9% in the 3rd quarter. US Bancorp DE now owns 1,368 shares of the company’s stock worth $49,000 after buying an additional 1,212 shares during the last quarter. Finally, Values First Advisors Inc. purchased a new stake in shares of Dyne Therapeutics during the third quarter valued at approximately $62,000. 96.68% of the stock is owned by hedge funds and other 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.