Dyne Therapeutics, Inc. (NASDAQ:DYN) Receives $32.17 Consensus Price Target from Brokerages

Dyne Therapeutics, Inc. (NASDAQ:DYN) has been given an average rating of “Moderate Buy” by the sixteen research firms that are currently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation, eleven have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $32.1667.

Several analysts recently commented on DYN shares. Wall Street Zen lowered shares of Dyne Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. Robert W. Baird cut their target price on Dyne Therapeutics from $30.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 9th. Raymond James Financial reiterated a “strong-buy” rating and issued a $37.00 price target on shares of Dyne Therapeutics in a research report on Tuesday, September 8th. JPMorgan Chase & Co. downgraded Dyne Therapeutics from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $17.00 to $10.00 in a report on Wednesday, September 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Dyne Therapeutics in a research note on Friday, July 17th.

Dyne Therapeutics Stock Performance

Dyne Therapeutics stock opened at $17.11 on Wednesday. Dyne Therapeutics has a 12-month low of $11.92 and a 12-month high of $27.31. The company has a debt-to-equity ratio of 0.28, a current ratio of 12.02 and a quick ratio of 12.02. The stock has a market capitalization of $3.20 billion, a PE ratio of -5.14 and a beta of 1.08. The firm has a 50 day simple moving average of $24.00 and a 200-day simple moving average of $20.63.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings results on Thursday, July 30th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.33). As a group, equities research analysts expect that Dyne Therapeutics will post -3.59 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Erick Lucera sold 2,362 shares of the firm’s stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $20.37, for a total value of $48,113.94. Following the completion of the sale, the chief financial officer owned 121,563 shares of the company’s stock, valued at $2,476,238.31. This trade represents a 1.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Jason Rhodes sold 2,160,516 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $25.00, for a total value of $54,012,900.00. Following the transaction, the director directly owned 428,946 shares in the company, valued at $10,723,650. The trade was a 83.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 4,150,974 shares of company stock worth $99,697,629 over the last three months. Company insiders own 9.46% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in shares of Dyne Therapeutics during the 2nd quarter valued at about $275,500,000. Jupiter Topco LLC acquired a new stake in Dyne Therapeutics in the second quarter valued at approximately $266,634,000. Perceptive Advisors LLC lifted its stake in Dyne Therapeutics by 34.2% in the first quarter. Perceptive Advisors LLC now owns 4,668,839 shares of the company’s stock valued at $84,646,000 after acquiring an additional 1,189,895 shares during the last quarter. Armistice Capital LLC grew its position in Dyne Therapeutics by 6.1% in the fourth quarter. Armistice Capital LLC now owns 3,249,708 shares of the company’s stock worth $63,564,000 after acquiring an additional 185,708 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. lifted its stake in shares of Dyne Therapeutics by 16.0% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,153,082 shares of the company’s stock valued at $61,674,000 after purchasing an additional 434,977 shares during the last quarter. 96.68% of the stock is owned by institutional investors and hedge funds.

About Dyne Therapeutics

Dyne Therapeutics, Inc is a biotechnology company focused on developing treatments for genetically driven muscle diseases. The company uses its FORCE platform, which is designed to deliver oligonucleotide therapeutics to skeletal muscle and other tissues by combining muscle-targeting antibodies with genetic medicines.

Dyne’s research and development programs are aimed at conditions in which the underlying genetic mutations impair muscle function. Its pipeline has included DYNE-101 for myotonic dystrophy type 1 and DYNE-251 for Duchenne muscular dystrophy in patients with mutations amenable to exon 51 skipping.