Dyne Therapeutics (NASDAQ:DYN) Coverage Initiated by Analysts at Robert W. Baird

Equities researchers at Robert W. Baird initiated coverage on shares of Dyne Therapeutics (NASDAQ:DYN) in a research note issued on Friday, MarketBeat.com reports. The firm set an “outperform” rating and a $46.00 price target on the stock. Robert W. Baird’s price target would suggest a potential upside of 78.78% from the stock’s current price.

DYN has been the topic of several other reports. Piper Sandler reiterated an “overweight” rating and issued a $53.00 target price on shares of Dyne Therapeutics in a research note on Monday, September 23rd. Chardan Capital reissued a “buy” rating and issued a $50.00 price objective on shares of Dyne Therapeutics in a research note on Wednesday, November 13th. Guggenheim upped their price objective on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. downgraded shares of Dyne Therapeutics from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $43.00 to $35.00 in a report on Thursday, October 24th. Finally, Stifel Nicolaus increased their price target on shares of Dyne Therapeutics from $41.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $50.42.

Dyne Therapeutics Stock Performance

Shares of Dyne Therapeutics stock opened at $25.73 on Friday. The company has a market capitalization of $2.62 billion, a P/E ratio of -7.23 and a beta of 1.09. Dyne Therapeutics has a 1 year low of $11.51 and a 1 year high of $47.45. The company’s fifty day moving average is $30.39 and its two-hundred day moving average is $35.23.

Dyne Therapeutics (NASDAQ:DYN) last announced its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.25). As a group, equities analysts expect that Dyne Therapeutics will post -3.45 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Oxana Beskrovnaya sold 2,334 shares of Dyne Therapeutics stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $28.12, for a total transaction of $65,632.08. Following the completion of the transaction, the insider now owns 201,685 shares of the company’s stock, valued at $5,671,382.20. The trade was a 1.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Susanna Gatti High sold 8,976 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $34.41, for a total transaction of $308,864.16. Following the completion of the sale, the chief operating officer now directly owns 131,636 shares in the company, valued at approximately $4,529,594.76. The trade was a 6.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 180,046 shares of company stock worth $6,300,265. 20.77% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of DYN. SG Americas Securities LLC purchased a new position in Dyne Therapeutics during the second quarter worth $217,000. Nisa Investment Advisors LLC boosted its stake in shares of Dyne Therapeutics by 904.1% during the second quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock valued at $26,000 after acquiring an additional 669 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Dyne Therapeutics by 52.5% during the second quarter. Bank of New York Mellon Corp now owns 311,504 shares of the company’s stock valued at $10,993,000 after acquiring an additional 107,233 shares during the last quarter. Legato Capital Management LLC increased its position in Dyne Therapeutics by 35.3% during the 2nd quarter. Legato Capital Management LLC now owns 15,480 shares of the company’s stock worth $546,000 after purchasing an additional 4,035 shares in the last quarter. Finally, Lisanti Capital Growth LLC raised its stake in Dyne Therapeutics by 22.5% in the 2nd quarter. Lisanti Capital Growth LLC now owns 106,140 shares of the company’s stock valued at $3,746,000 after purchasing an additional 19,530 shares during the last quarter. 96.68% of the stock is currently owned by institutional investors and hedge funds.

Dyne Therapeutics Company Profile

Dyne Therapeutics, Inc, a clinical-stage muscle disease company, operates as a biotechnology company that focuses on advancing therapeutics for genetically driven muscle diseases in the United States. It is developing a portfolio of muscle disease therapeutics, including programs in myotonic dystrophy type 1; duchenne muscular dystrophy; and facioscapulohumeral dystrophy, as well as rare skeletal muscle, and cardiac and metabolic muscle diseases using its FORCE platform that delivers disease-modifying therapeutics.