Dyne Therapeutics’ (DYN) “Buy” Rating Reaffirmed at Chardan Capital

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “buy” rating reissued by analysts at Chardan Capital in a report released on Wednesday, Benzinga reports. They currently have a $38.00 target price on the stock. Chardan Capital’s target price would indicate a potential upside of 135.88% from the stock’s current price.

A number of other research firms have also commented on DYN. TD Cowen initiated coverage on shares of Dyne Therapeutics in a report on Friday, June 26th. They set a “buy” rating for the company. Morgan Stanley decreased their price target on shares of Dyne Therapeutics from $45.00 to $36.00 and set an “overweight” rating for the company in a report on Wednesday, September 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Dyne Therapeutics in a research report on Friday, July 17th. HC Wainwright cut their price objective on shares of Dyne Therapeutics from $50.00 to $32.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Wall Street Zen cut shares of Dyne Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Two 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 assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.07.

Dyne Therapeutics Trading Down 0.6%

DYN traded down $0.10 during trading on Wednesday, reaching $16.11. 4,456,454 shares of the company’s stock were exchanged, compared to its average volume of 2,246,245. The company’s fifty day moving average price is $23.01 and its 200-day moving average price is $20.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 12.02 and a current ratio of 12.02. Dyne Therapeutics has a fifty-two week low of $12.33 and a fifty-two week high of $27.31. The firm has a market capitalization of $3.01 billion, a PE ratio of -4.84 and a beta of 1.08.

Dyne Therapeutics (NASDAQ:DYN) last released its earnings results on Wednesday, July 29th. The company reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.33). As a group, equities analysts forecast that Dyne Therapeutics will post -3.59 EPS for the current year.

Insiders Place Their Bets

In other Dyne Therapeutics news, Director Jason Rhodes sold 2,160,516 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were 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 $10,723,650. The trade was a 83.43% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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 transaction of $91,190.75. Following the sale, the insider directly owned 163,854 shares in the company, valued at $3,989,844.90. This trade represents a 2.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 3,376,157 shares of company stock valued at $83,290,469 in the last three months. 9.46% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Dyne Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hilton Head Capital Partners LLC bought a new stake in Dyne Therapeutics during the 1st quarter worth about $26,000. Allworth Financial LP bought a new stake in Dyne Therapeutics during the 2nd quarter worth about $62,000. Wellington Management Group LLP lifted its position in Dyne Therapeutics by 7.3% during the 2nd quarter. Wellington Management Group LLP now owns 52,427 shares of the company’s stock worth $1,164,000 after buying an additional 3,545 shares in the last quarter. Nykredit A S bought a new stake in shares of Dyne Therapeutics in the 2nd quarter valued at about $113,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in shares of Dyne Therapeutics in the 2nd quarter valued at about $114,000. 96.68% of the stock is owned by institutional investors.

Dyne Therapeutics Company Profile

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.