JPMorgan Chase & Co. Cuts Dyne Therapeutics (NASDAQ:DYN) Price Target to $17.00

Dyne Therapeutics (NASDAQ:DYN) had its price objective decreased by JPMorgan Chase & Co. from $18.00 to $17.00 in a research note released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other analysts have also issued research reports about the stock. HC Wainwright reiterated a “buy” rating and issued a $46.00 price objective on shares of Dyne Therapeutics in a research note on Monday, March 17th. Baird R W upgraded shares of Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. Chardan Capital reiterated a “buy” rating and issued a $50.00 price objective on shares of Dyne Therapeutics in a research note on Monday, March 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $45.00 price objective on shares of Dyne Therapeutics in a research note on Tuesday, January 14th. Finally, Scotiabank initiated coverage on shares of Dyne Therapeutics in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $47.46.

Dyne Therapeutics Trading Down 1.5 %

NASDAQ DYN opened at $12.08 on Friday. The company has a fifty day simple moving average of $13.60 and a two-hundred day simple moving average of $24.14. The stock has a market cap of $1.37 billion, a P/E ratio of -3.39 and a beta of 1.11. Dyne Therapeutics has a 12-month low of $11.18 and a 12-month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.04. As a group, sell-side analysts forecast that Dyne Therapeutics will post -3.44 earnings per share for the current year.

Insider Activity

In other news, insider Oxana Beskrovnaya sold 2,598 shares of Dyne Therapeutics stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total value of $36,242.10. Following the sale, the insider now owns 199,087 shares in the company, valued at $2,777,263.65. This trade represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 6,237 shares of company stock worth $77,760 over the last 90 days. 20.77% of the stock is currently owned by company insiders.

Institutional Trading of Dyne Therapeutics

Institutional investors have recently modified their holdings of the stock. Jennison Associates LLC grew its position in shares of Dyne Therapeutics by 1.5% in the third quarter. Jennison Associates LLC now owns 1,346,952 shares of the company’s stock valued at $48,383,000 after purchasing an additional 19,730 shares during the period. abrdn plc purchased a new position in shares of Dyne Therapeutics in the fourth quarter worth about $608,000. RA Capital Management L.P. lifted its stake in shares of Dyne Therapeutics by 5.5% in the third quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company’s stock worth $229,211,000 after buying an additional 331,940 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 in the last quarter. Finally, State Street Corp lifted its stake in shares of Dyne Therapeutics by 13.8% in the third quarter. State Street Corp now owns 3,641,859 shares of the company’s stock worth $130,816,000 after buying an additional 440,890 shares in the last quarter. Institutional investors and hedge funds own 96.68% of the company’s stock.

About Dyne Therapeutics

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.