Dyne Therapeutics (NASDAQ:DYN) Coverage Initiated at Scotiabank

Stock analysts at Scotiabank started coverage on shares of Dyne Therapeutics (NASDAQ:DYN) in a research report issued to clients and investors on Friday, Marketbeat Ratings reports. The firm set a “sector outperform” rating and a $50.00 price target on the stock. Scotiabank’s target price would suggest a potential upside of 303.23% from the company’s previous close.

Several other research firms have also issued reports on DYN. Baird R W upgraded shares of Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. Piper Sandler decreased their price objective on shares of Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Robert W. Baird assumed coverage on Dyne Therapeutics in a research note on Friday, December 13th. They issued an “outperform” rating and a $46.00 target price on the stock. HC Wainwright decreased their price target on Dyne Therapeutics from $55.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $45.00 price objective on shares of Dyne Therapeutics in a research report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.75.

Dyne Therapeutics Price Performance

DYN opened at $12.40 on Friday. Dyne Therapeutics has a fifty-two week low of $11.62 and a fifty-two week high of $47.45. The firm has a market capitalization of $1.40 billion, a PE ratio of -3.48 and a beta of 1.11. The company’s 50-day moving average is $15.80 and its 200 day moving average is $26.45.

Dyne Therapeutics (NASDAQ:DYN) last posted its earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.04. As a group, analysts expect that Dyne Therapeutics will post -3.44 EPS for the current year.

Insider Transactions at Dyne Therapeutics

In related news, insider Oxana Beskrovnaya sold 2,598 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total value of $36,242.10. Following the completion of the transaction, the insider now directly owns 199,087 shares of the company’s stock, valued at approximately $2,777,263.65. This trade represents a 1.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard William Scalzo sold 1,455 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $28.12, for a total transaction of $40,914.60. Following the sale, the senior vice president now directly owns 127,078 shares in the company, valued at $3,573,433.36. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,387 shares of company stock worth $142,789. 20.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D purchased a new stake in shares of Dyne Therapeutics in the third quarter worth about $1,588,000. Jennison Associates LLC lifted its stake in Dyne Therapeutics by 1.5% in the 3rd quarter. Jennison Associates LLC now owns 1,346,952 shares of the company’s stock worth $48,383,000 after purchasing an additional 19,730 shares in the last quarter. abrdn plc purchased a new stake in Dyne Therapeutics in the 4th quarter worth approximately $608,000. RA Capital Management L.P. boosted its holdings 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 purchasing an additional 331,940 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Dyne Therapeutics by 4.8% during the 3rd 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 in the last quarter. Hedge funds and other institutional investors 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.