Dyne Therapeutics (NASDAQ:DYN) Earns Buy Rating from Chardan Capital

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “buy” rating restated by equities researchers at Chardan Capital in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $38.00 price objective on the stock. Chardan Capital’s price target would suggest a potential upside of 150.00% from the company’s previous close.

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

Dyne Therapeutics Price Performance

Shares of DYN stock traded down $0.62 on Wednesday, reaching $15.20. The company’s stock had a trading volume of 2,533,950 shares, compared to its average volume of 2,255,456. The company has a quick ratio of 12.02, a current ratio of 12.02 and a debt-to-equity ratio of 0.28. Dyne Therapeutics has a 12-month low of $12.43 and a 12-month high of $27.31. The company has a market capitalization of $2.84 billion, a P/E ratio of -4.56 and a beta of 1.13. The stock’s 50 day simple moving average is $22.70 and its 200-day simple moving average is $20.59.

Dyne Therapeutics (NASDAQ:DYN) last released 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). As a group, equities analysts predict that Dyne Therapeutics will post -3.59 earnings per share for the current fiscal year.

Insider Transactions at Dyne Therapeutics

In other news, insider Douglas Kerr sold 3,745 shares of Dyne Therapeutics 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 transaction, the insider owned 163,854 shares in the company, valued at approximately $3,989,844.90. The trade was a 2.23% decrease in their ownership of the stock. The transaction 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, CEO John Cox sold 5,658 shares of Dyne Therapeutics stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $18.88, for a total value of $106,823.04. Following the completion of the transaction, the chief executive officer owned 357,507 shares in the company, valued at approximately $6,749,732.16. This represents a 1.56% 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. Over the last quarter, insiders have sold 3,376,157 shares of company stock worth $83,290,469. Company insiders own 9.46% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in shares of Dyne Therapeutics in the second quarter worth about $275,500,000. Jupiter Topco LLC bought a new stake in shares of Dyne Therapeutics in the second quarter worth about $266,634,000. Perceptive Advisors LLC grew its stake in shares of Dyne Therapeutics by 34.2% in the first quarter. Perceptive Advisors LLC now owns 4,668,839 shares of the company’s stock worth $84,646,000 after purchasing an additional 1,189,895 shares during the last quarter. Armistice Capital LLC grew its stake in shares of 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 purchasing an additional 185,708 shares during the last quarter. Finally, Frazier Life Sciences Management L.P. grew its stake in shares of Dyne Therapeutics by 16.0% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,153,082 shares of the company’s stock worth $61,674,000 after purchasing an additional 434,977 shares during the last quarter. Hedge funds and other institutional investors own 96.68% of the company’s stock.

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.