Dyne Therapeutics (NASDAQ:DYN) Price Target Raised to $53.00

Dyne Therapeutics (NASDAQ:DYN) had its price objective increased by Piper Sandler from $43.00 to $53.00 in a research note published on Tuesday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

DYN has been the topic of several other reports. Chardan Capital raised their price target on shares of Dyne Therapeutics from $31.00 to $42.00 and gave the stock a buy rating in a research note on Tuesday, May 21st. JPMorgan Chase & Co. raised their target price on shares of Dyne Therapeutics from $39.00 to $43.00 and gave the stock an overweight rating in a research report on Tuesday, July 9th. Morgan Stanley started coverage on Dyne Therapeutics in a report on Tuesday, April 30th. They issued an overweight rating and a $40.00 price target for the company. Jefferies Financial Group raised their price objective on Dyne Therapeutics from $36.00 to $42.00 and gave the stock a buy rating in a report on Monday, May 20th. Finally, HC Wainwright lifted their price objective on Dyne Therapeutics from $36.00 to $48.00 and gave the company a buy rating in a research report on Monday, May 20th. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of Buy and an average price target of $50.60.

Dyne Therapeutics Stock Performance

DYN stock opened at $45.39 on Tuesday. The stock’s 50 day moving average price is $38.62 and its 200 day moving average price is $30.67. The firm has a market cap of $3.97 billion, a P/E ratio of -11.43 and a beta of 1.07. Dyne Therapeutics has a 1 year low of $6.40 and a 1 year high of $46.39.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.02. On average, research analysts predict that Dyne Therapeutics will post -3 earnings per share for the current year.

Insider Activity at Dyne Therapeutics

In other news, SVP Richard William Scalzo sold 1,590 shares of Dyne Therapeutics stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $30.23, for a total value of $48,065.70. Following the transaction, the senior vice president now directly owns 115,105 shares of the company’s stock, valued at approximately $3,479,624.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Richard William Scalzo sold 1,590 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $30.23, for a total value of $48,065.70. Following the completion of the sale, the senior vice president now owns 115,105 shares of the company’s stock, valued at $3,479,624.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Oxana Beskrovnaya sold 2,136 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $31.34, for a total transaction of $66,942.24. Following the completion of the transaction, the insider now directly owns 147,511 shares in the company, valued at approximately $4,622,994.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 194,102 shares of company stock worth $6,273,351. 20.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Dyne Therapeutics

A number of large investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in Dyne Therapeutics by 5.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,921 shares of the company’s stock valued at $305,000 after purchasing an additional 1,199 shares in the last quarter. Federated Hermes Inc. bought a new stake in shares of Dyne Therapeutics in the 4th quarter worth about $4,988,000. Jennison Associates LLC bought a new stake in Dyne Therapeutics in the fourth quarter valued at about $2,698,000. New York State Common Retirement Fund increased its holdings in shares of Dyne Therapeutics by 13.7% in the 4th quarter. New York State Common Retirement Fund now owns 18,592 shares of the company’s stock valued at $247,000 after acquiring an additional 2,244 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of Dyne Therapeutics in the 4th quarter valued at about $304,000. Institutional investors and hedge funds own 96.68% of the company’s stock.

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.