Chardan Capital Reaffirms “Buy” Rating for Dyne Therapeutics (NASDAQ:DYN)

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “buy” rating restated by research analysts at Chardan Capital in a research note issued on Wednesday, Benzinga reports. They presently have a $38.00 target price on the stock. Chardan Capital’s price target suggests a potential upside of 138.54% from the company’s previous close.

DYN has been the subject of a number of other reports. Wall Street Zen cut Dyne Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. JPMorgan Chase & Co. cut Dyne Therapeutics from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $17.00 to $10.00 in a report on Wednesday, September 9th. Piper Sandler reissued an “overweight” rating and issued a $47.00 target price on shares of Dyne Therapeutics in a report on Tuesday. HC Wainwright decreased their price target on Dyne Therapeutics from $50.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, TD Cowen started coverage on Dyne Therapeutics in a research report on Friday, June 26th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Dyne Therapeutics has an average rating of “Moderate Buy” and an average target price of $33.07.

Dyne Therapeutics Stock Performance

Dyne Therapeutics stock traded down $0.18 during trading hours on Wednesday, hitting $15.93. The stock had a trading volume of 579,826 shares, compared to its average volume of 2,236,926. Dyne Therapeutics has a fifty-two week low of $12.33 and a fifty-two week high of $27.31. 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 company has a 50-day moving average of $22.86 and a two-hundred day moving average of $20.60. The company has a market cap of $2.97 billion, a PE ratio of -4.74 and a beta of 1.08.

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

Insider Buying and Selling at Dyne Therapeutics

In other Dyne Therapeutics news, CEO John Cox sold 5,658 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $18.88, for a total value of $106,823.04. Following the transaction, the chief executive officer directly owned 357,507 shares in the company, valued at approximately $6,749,732.16. This trade represents a 1.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Douglas Kerr sold 3,745 shares of the stock in a transaction on Friday, September 4th. The shares were 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 $3,989,844.90. The trade was a 2.23% decrease in their ownership of the stock. 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. In the last ninety days, insiders have sold 3,376,157 shares of company stock worth $83,290,469. Insiders own 9.46% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. bought a new position in shares of Dyne Therapeutics in the 2nd quarter worth $275,500,000. Jupiter Topco LLC acquired a new stake in Dyne Therapeutics during the 2nd quarter worth $266,634,000. Perceptive Advisors LLC raised its stake in Dyne Therapeutics by 34.2% during the 1st quarter. Perceptive Advisors LLC now owns 4,668,839 shares of the company’s stock worth $84,646,000 after buying an additional 1,189,895 shares during the period. Armistice Capital LLC raised its stake in Dyne Therapeutics by 6.1% during the 4th quarter. Armistice Capital LLC now owns 3,249,708 shares of the company’s stock worth $63,564,000 after buying an additional 185,708 shares during the period. Finally, Frazier Life Sciences Management L.P. raised its stake in Dyne Therapeutics by 16.0% during the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,153,082 shares of the company’s stock worth $61,674,000 after buying an additional 434,977 shares during the period. 96.68% of the stock is currently owned by institutional investors.

Dyne Therapeutics Company Profile

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.