Dyne Therapeutics, Inc. (NASDAQ:DYN) Stock Has Consensus Price Target of $33.07 According to Analysts

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) have received an average rating of “Moderate Buy” from the sixteen brokerages that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $33.07.

Several equities analysts have commented on the stock. Piper Sandler reissued an “overweight” rating and set a $47.00 target price on shares of Dyne Therapeutics in a research report on Tuesday, September 29th. Royal Bank Of Canada reduced their target price on Dyne Therapeutics from $35.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, September 9th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $37.00 target price on shares of Dyne Therapeutics in a report on Tuesday, September 8th. TD Cowen began coverage on Dyne Therapeutics in a research report on Friday, June 26th. They set a “buy” rating for the company. Finally, Robert W. Baird dropped their price target on Dyne Therapeutics from $30.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, September 9th.

Insiders Place Their Bets

In other news, CEO John Cox sold 5,658 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $18.88, for a total transaction of $106,823.04. Following the completion of the sale, the chief executive officer directly owned 357,507 shares of the company’s stock, valued at $6,749,732.16. This trade represents a 1.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Douglas Kerr sold 3,745 shares of the firm’s stock in a transaction on 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 directly owned 163,854 shares of the company’s stock, valued at approximately $3,989,844.90. This represents a 2.23% decrease in their ownership of the stock. 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. Insiders have sold 2,598,706 shares of company stock worth $65,432,671 over the last 90 days. Company insiders own 9.46% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Dyne Therapeutics during the 2nd quarter worth approximately $275,500,000. Jupiter Topco LLC purchased a new position in Dyne Therapeutics in the second quarter valued at approximately $266,634,000. Perceptive Advisors LLC lifted its stake in Dyne Therapeutics by 34.2% in the first quarter. Perceptive Advisors LLC now owns 4,668,839 shares of the company’s stock valued at $84,646,000 after purchasing an additional 1,189,895 shares during the last quarter. Armistice Capital LLC grew its holdings in Dyne Therapeutics by 6.1% during the fourth quarter. Armistice Capital LLC now owns 3,249,708 shares of the company’s stock valued at $63,564,000 after purchasing an additional 185,708 shares during the period. Finally, Frazier Life Sciences Management L.P. grew its holdings in Dyne Therapeutics by 16.0% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,153,082 shares of the company’s stock valued at $61,674,000 after purchasing an additional 434,977 shares during the period. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

Dyne Therapeutics Price Performance

Shares of NASDAQ:DYN opened at $15.29 on Friday. 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 stock has a market cap of $2.86 billion, a PE ratio of -4.59 and a beta of 1.12. The stock’s fifty day simple moving average is $20.73 and its two-hundred day simple moving average is $20.42. Dyne Therapeutics has a 1-year low of $14.00 and a 1-year high of $27.31.

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

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.