Dyne Therapeutics’ (DYN) Buy Rating Reiterated at Chardan Capital

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “buy” rating reaffirmed by equities research analysts at Chardan Capital in a research report issued on Wednesday, Benzinga reports. They currently have a $38.00 price objective on the stock. Chardan Capital’s target price suggests a potential upside of 147.88% from the stock’s current price.

A number of other brokerages have also weighed in on DYN. Weiss Ratings restated a “sell (d-)” rating on shares of Dyne Therapeutics in a research note on Friday, July 17th. Jefferies Financial Group restated a “buy” rating and issued a $50.00 price objective on shares of Dyne Therapeutics in a research report on Wednesday, September 30th. Robert W. Baird reduced their target price on Dyne Therapeutics from $30.00 to $26.00 and set an “outperform” rating for the company in a research note on Wednesday, September 9th. JPMorgan Chase & Co. downgraded Dyne Therapeutics from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $17.00 to $10.00 in a research note on Wednesday, September 9th. Finally, HC Wainwright dropped their target price on Dyne Therapeutics from $50.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, September 30th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.07.

Dyne Therapeutics Price Performance

DYN traded up $0.13 during trading on Wednesday, reaching $15.33. 2,675,473 shares of the company traded hands, compared to its average volume of 2,257,204. The firm has a fifty day simple moving average of $22.52 and a 200 day simple moving average of $20.56. Dyne Therapeutics has a 12-month low of $12.43 and a 12-month high of $27.31. The company has a debt-to-equity ratio of 0.28, a quick ratio of 12.02 and a current ratio of 12.02. The company has a market cap of $2.86 billion, a P/E ratio of -4.60 and a beta of 1.12.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly 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 analysts forecast that Dyne Therapeutics will post -3.59 EPS for the current year.

Insider Buying and Selling at Dyne Therapeutics

In other Dyne Therapeutics news, insider Douglas Kerr sold 3,745 shares of Dyne Therapeutics stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $24.35, for a total value of $91,190.75. Following the transaction, the insider directly owned 163,854 shares in the company, valued at approximately $3,989,844.90. This trade represents a 2.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jason Rhodes sold 2,160,516 shares of Dyne Therapeutics stock in a transaction that occurred 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 completion of the sale, the director owned 428,946 shares in the company, valued at approximately $10,723,650. This trade represents 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. In the last ninety days, insiders have sold 2,895,917 shares of company stock worth $72,345,799. 9.46% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Institutional investors have recently added to or reduced their stakes in the business. Handelsbanken Fonder AB bought a new stake in shares of Dyne Therapeutics in the 2nd quarter worth approximately $1,182,000. Palo Alto Investors LP acquired a new position in shares of Dyne Therapeutics during the 2nd quarter valued at $36,591,441. The Manufacturers Life Insurance Company acquired a new position in shares of Dyne Therapeutics during the 2nd quarter valued at $1,746,000. Royal Bank of Canada boosted its stake in shares of Dyne Therapeutics by 267.6% during the 1st quarter. Royal Bank of Canada now owns 68,188 shares of the company’s stock worth $1,236,000 after acquiring an additional 49,641 shares in the last quarter. Finally, Flputnam Investment Management Co. bought a new stake in shares of Dyne Therapeutics during the 2nd quarter worth $1,177,000. 96.68% of the stock is currently owned by institutional investors and hedge funds.

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.