HC Wainwright Cuts Dyne Therapeutics (NASDAQ:DYN) Price Target to $32.00

Dyne Therapeutics (NASDAQ:DYN) had its price target decreased by HC Wainwright from $50.00 to $32.00 in a research report released on Wednesday, MarketBeat.com reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Dyne Therapeutics’ FY2028 earnings at ($1.98) EPS, FY2029 earnings at ($0.65) EPS and FY2030 earnings at $1.03 EPS.

DYN has been the subject of several other research reports. Royal Bank Of Canada dropped their price objective on Dyne Therapeutics from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, September 9th. Weiss Ratings restated a “sell (d-)” rating on shares of Dyne Therapeutics in a research note on Friday, July 17th. Cantor Fitzgerald started coverage on Dyne Therapeutics in a report on Thursday, July 23rd. They issued an “overweight” rating on the stock. JPMorgan Chase & Co. cut 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 report on Wednesday, September 9th. Finally, TD Cowen started coverage on Dyne Therapeutics in a research report on Friday, June 26th. They set a “buy” rating for the company. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $33.07.

Dyne Therapeutics Stock Performance

Dyne Therapeutics stock opened at $15.20 on Wednesday. The firm’s 50 day simple moving average is $22.52 and its 200 day simple moving average is $20.55. The company has a current ratio of 12.02, a quick ratio of 12.02 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $2.84 billion, a PE ratio of -4.56 and a beta of 1.12. Dyne Therapeutics has a 1-year low of $12.43 and a 1-year high of $27.31.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings results on Wednesday, July 29th. The company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.33). As a group, analysts expect that Dyne Therapeutics will post -3.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jason Rhodes sold 2,160,516 shares of the stock in a transaction on Friday, August 14th. The stock was sold at an average price of $25.00, for a total value of $54,012,900.00. Following the transaction, the director owned 428,946 shares of the company’s stock, valued at $10,723,650. This represents a 83.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Douglas Kerr sold 3,745 shares of the firm’s stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $24.35, for a total value of $91,190.75. Following the sale, the insider owned 163,854 shares in the company, valued at $3,989,844.90. The trade was a 2.23% 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 ninety days, insiders sold 3,376,157 shares of company stock worth $83,290,469. Corporate insiders own 9.46% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

Institutional investors have recently modified their holdings of the company. Hilton Head Capital Partners LLC purchased a new position in Dyne Therapeutics in the 1st quarter worth $26,000. Allworth Financial LP bought a new stake in Dyne Therapeutics in the second quarter worth $62,000. Nykredit A S purchased a new stake in Dyne Therapeutics during the second quarter valued at about $113,000. Keating Financial Advisory Services Inc. purchased a new stake in Dyne Therapeutics during the second quarter valued at about $114,000. Finally, Persistent Asset Partners Ltd bought a new position in shares of Dyne Therapeutics during the second quarter valued at about $124,000. 96.68% of the stock is currently owned by institutional investors.

About Dyne Therapeutics

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.