Dyne Therapeutics (NASDAQ:DYN) Earns Buy Rating from HC Wainwright

HC Wainwright reiterated their buy rating on shares of Dyne Therapeutics (NASDAQ:DYN) in a research note issued to investors on Friday morning,Benzinga reports. HC Wainwright currently has a $55.00 price objective on the stock.

Several other equities research analysts also recently issued reports on DYN. Raymond James raised Dyne Therapeutics to a “strong-buy” rating in a research report on Thursday, December 12th. Royal Bank of Canada began coverage on shares of Dyne Therapeutics in a report on Tuesday, November 26th. They issued an “outperform” rating and a $45.00 price target on the stock. Chardan Capital reissued a “buy” rating and set a $50.00 price objective on shares of Dyne Therapeutics in a report on Wednesday, November 13th. JPMorgan Chase & Co. lowered shares of Dyne Therapeutics from an “overweight” rating to a “neutral” rating and cut their target price for the company from $43.00 to $35.00 in a research note on Thursday, October 24th. Finally, Robert W. Baird began coverage on Dyne Therapeutics in a research note on Friday, December 13th. They issued an “outperform” rating and a $46.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $49.91.

Dyne Therapeutics Stock Performance

Dyne Therapeutics stock opened at $15.87 on Friday. The firm has a market capitalization of $1.62 billion, a PE ratio of -4.46 and a beta of 1.16. The stock’s 50 day moving average price is $27.04 and its 200 day moving average price is $34.02. Dyne Therapeutics has a one year low of $14.79 and a one year high of $47.45.

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). On average, analysts forecast that Dyne Therapeutics will post -3.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Dyne Therapeutics news, Director Carlo Incerti sold 16,500 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $28.73, for a total value of $474,045.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dirk Kersten sold 23,671 shares of the firm’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $35.35, for a total transaction of $836,769.85. Following the completion of the sale, the director now owns 99,652 shares in the company, valued at $3,522,698.20. The trade was a 19.19 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 44,742 shares of company stock valued at $1,443,246. Insiders own 20.77% of the company’s stock.

Institutional Investors Weigh In On Dyne Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in shares of Dyne Therapeutics by 4.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 101,750 shares of the company’s stock valued at $3,655,000 after acquiring an additional 4,236 shares during the last quarter. Virtue Capital Management LLC boosted its holdings in shares of Dyne Therapeutics by 4.4% in the third quarter. Virtue Capital Management LLC now owns 23,208 shares of the company’s stock worth $834,000 after buying an additional 981 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Dyne Therapeutics by 4.8% in the third quarter. Geode Capital Management LLC now owns 1,859,413 shares of the company’s stock worth $66,802,000 after buying an additional 84,760 shares during the period. Barclays PLC increased its position in shares of Dyne Therapeutics by 162.2% in the third quarter. Barclays PLC now owns 207,309 shares of the company’s stock worth $7,446,000 after acquiring an additional 128,246 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Dyne Therapeutics during the 3rd quarter valued at $1,067,000. 96.68% of the stock is currently owned by institutional investors.

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.