Dyne Therapeutics (NASDAQ:DYN) Given “Buy” Rating at Chardan Capital

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “buy” rating reiterated by equities researchers at Chardan Capital in a research report issued on Wednesday, Benzinga reports. They currently have a $38.00 price target on the stock. Chardan Capital’s price objective suggests a potential upside of 140.20% from the company’s current price.

A number of other research analysts have also recently commented on DYN. HC Wainwright reduced their price objective on Dyne Therapeutics from $50.00 to $32.00 and set a “buy” rating on the stock in a research note on Wednesday. Cantor Fitzgerald initiated coverage on Dyne Therapeutics in a report on Thursday, July 23rd. They set an “overweight” rating on the stock. JPMorgan Chase & Co. lowered Dyne Therapeutics from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $17.00 to $10.00 in a research report on Wednesday, September 9th. Jefferies Financial Group restated a “buy” rating and issued a $50.00 price target on shares of Dyne Therapeutics in a report on Wednesday. Finally, Morgan Stanley lowered their price objective on shares of Dyne Therapeutics from $45.00 to $36.00 and set an “overweight” rating for the company in a research report on Wednesday, September 9th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $33.07.

Dyne Therapeutics Trading Down 1.8%

Shares of DYN stock traded down $0.29 during mid-day trading on Wednesday, reaching $15.82. The company’s stock had a trading volume of 3,699,420 shares, compared to its average volume of 2,253,975. The company has a quick ratio of 12.02, a current ratio of 12.02 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $2.95 billion, a PE ratio of -4.75 and a beta of 1.08. The company’s 50 day simple moving average is $22.86 and its 200-day simple moving average is $20.60. Dyne Therapeutics has a 12-month low of $12.33 and a 12-month high of $27.31.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.33). On average, research analysts predict that Dyne Therapeutics will post -3.59 EPS for the current fiscal year.

Insider Activity

In other news, Director Jason Rhodes sold 2,160,516 shares of Dyne Therapeutics stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $25.00, for a total transaction of $54,012,900.00. Following the sale, the director directly owned 428,946 shares of the company’s stock, valued at approximately $10,723,650. The trade was a 83.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Douglas Kerr sold 3,745 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $24.35, for a total value of $91,190.75. Following the completion of the transaction, the insider owned 163,854 shares in the company, valued at approximately $3,989,844.90. This trade represents a 2.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 3,376,157 shares of company stock worth $83,290,469 over the last ninety days. Corporate insiders own 9.46% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC acquired a new stake in shares of Dyne Therapeutics during the second quarter worth approximately $300,000. Nykredit A S acquired a new stake in Dyne Therapeutics in the second quarter valued at $113,000. Moore Capital Management LP raised its holdings in Dyne Therapeutics by 288.2% in the second quarter. Moore Capital Management LP now owns 305,794 shares of the company’s stock valued at $6,792,000 after acquiring an additional 227,029 shares in the last quarter. Two Sigma Securities LLC bought a new position in Dyne Therapeutics during the 2nd quarter valued at $222,000. Finally, Alyeska Investment Group L.P. acquired a new position in Dyne Therapeutics during the 2nd quarter worth $5,448,000. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

About Dyne Therapeutics

Dyne Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing genetic medicines for serious neuromuscular diseases. The company’s research is centered on its FORCE platform, which is designed to use targeted antibodies to deliver oligonucleotide-based therapies to skeletal muscle and other relevant tissues.

Dyne’s development programs include DYNE-101, an investigational therapy for myotonic dystrophy type 1, and DYNE-251, an investigational exon-skipping therapy for Duchenne muscular dystrophy in patients amenable to exon 51 skipping.