Dyne Therapeutics (NASDAQ:DYN) Price Target Raised to $35.00 at Royal Bank Of Canada

Dyne Therapeutics (NASDAQ:DYN) had its target price increased by analysts at Royal Bank Of Canada from $30.00 to $35.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price suggests a potential upside of 39.17% from the stock’s previous close.

DYN has been the topic of several other research reports. Sanford C. Bernstein lifted their price target on shares of Dyne Therapeutics from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Evercore set a $33.00 price objective on Dyne Therapeutics in a research report on Friday, May 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Dyne Therapeutics in a research note on Friday, July 17th. Cantor Fitzgerald began coverage on Dyne Therapeutics in a report on Thursday, July 23rd. They issued an “overweight” rating on the stock. Finally, Wall Street Zen raised Dyne Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.58.

Dyne Therapeutics Price Performance

Dyne Therapeutics stock traded up $0.05 during midday trading on Thursday, hitting $25.15. The company’s stock had a trading volume of 656,742 shares, compared to its average volume of 2,107,706. Dyne Therapeutics has a 12 month low of $9.57 and a 12 month high of $26.26. The company has a quick ratio of 19.92, a current ratio of 19.92 and a debt-to-equity ratio of 0.17. The stock’s 50-day moving average price is $20.91 and its 200-day moving average price is $18.77. The company has a market capitalization of $4.69 billion, a PE ratio of -7.82 and a beta of 1.06.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings data on Wednesday, July 29th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.34). Analysts anticipate that Dyne Therapeutics will post -3.01 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Brian S. Posner acquired 2,000 shares of the stock in a transaction on Monday, June 8th. The shares were purchased at an average cost of $16.94 per share, for a total transaction of $33,880.00. Following the transaction, the director owned 24,500 shares in the company, valued at approximately $415,030. This trade represents a 8.89% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jason P. Rhodes sold 297,211 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $23.26, for a total transaction of $6,913,127.86. Following the sale, the director directly owned 2,962 shares in the company, valued at approximately $68,896.12. This trade represents a 99.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have bought 9,000 shares of company stock worth $156,800 and have sold 1,665,542 shares worth $36,321,576. 9.46% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. T. Rowe Price Investment Management Inc. boosted its position in Dyne Therapeutics by 523.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,540,089 shares of the company’s stock worth $343,085,000 after acquiring an additional 14,727,667 shares during the period. Vanguard Group Inc. increased its holdings in shares of Dyne Therapeutics by 14.9% in the 4th quarter. Vanguard Group Inc. now owns 11,215,565 shares of the company’s stock valued at $219,376,000 after purchasing an additional 1,455,151 shares during the period. State Street Corp increased its holdings in shares of Dyne Therapeutics by 27.0% in the 4th quarter. State Street Corp now owns 6,692,745 shares of the company’s stock valued at $130,910,000 after purchasing an additional 1,423,828 shares during the period. Adage Capital Partners GP L.L.C. lifted its position in shares of Dyne Therapeutics by 45.5% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 5,172,000 shares of the company’s stock worth $101,164,000 after purchasing an additional 1,618,000 shares in the last quarter. Finally, Orbis Allan Gray Ltd purchased a new stake in shares of Dyne Therapeutics in the fourth quarter worth approximately $93,926,000. 96.68% of the stock is owned by institutional investors and hedge funds.

About Dyne Therapeutics

Dyne Therapeutics is a clinical-stage biotechnology company specializing in the development of localized gene regulation therapies for serious rare diseases. The company’s proprietary FORCE (Facilitated Orthogonal Receptor‐mediated Cargo Evaluation) platform is designed to enable targeted delivery of oligonucleotide and gene therapy modalities to skeletal and respiratory muscles. Dyne’s lead programs focus on Duchenne muscular dystrophy (DMD), myotonic dystrophy type 1 (DM1) and facioscapulohumeral muscular dystrophy (FSHD), with preclinical and early clinical studies evaluating safety, tolerability and tissue specificity.

Since its founding in 2019 by Flagship Pioneering, Dyne has advanced multiple product candidates using its modular delivery approach, which couples engineered ligands with therapeutic payloads to improve uptake into muscle cells.