Dyne Therapeutics (NASDAQ:DYN) Earns “Overweight” Rating from Piper Sandler

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “overweight” rating reiterated by Piper Sandler in a research report issued to clients and investors on Monday, Benzinga reports. They presently have a $53.00 price objective on the stock. Piper Sandler’s price objective indicates a potential upside of 39.33% from the company’s current price.

Other equities analysts have also issued research reports about the company. Oppenheimer reaffirmed an “outperform” rating and issued a $55.00 price target on shares of Dyne Therapeutics in a research report on Tuesday, September 3rd. HC Wainwright reiterated a “buy” rating and set a $55.00 price target on shares of Dyne Therapeutics in a report on Wednesday, September 4th. Guggenheim raised their price target on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. StockNews.com lowered shares of Dyne Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Finally, Morgan Stanley increased their target price on Dyne Therapeutics from $48.00 to $52.00 and gave the company an “overweight” rating in a research note on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Dyne Therapeutics has a consensus rating of “Moderate Buy” and an average price target of $51.40.

Dyne Therapeutics Stock Performance

DYN stock opened at $38.04 on Monday. The firm has a 50 day moving average price of $41.07 and a 200-day moving average price of $33.66. Dyne Therapeutics has a 52-week low of $6.40 and a 52-week high of $47.45. The firm has a market capitalization of $3.32 billion, a price-to-earnings ratio of -9.22 and a beta of 1.07.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings data on Monday, August 12th. The company reported ($0.70) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.02. As a group, sell-side analysts forecast that Dyne Therapeutics will post -2.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Dyne Therapeutics news, SVP Richard William Scalzo sold 1,390 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $34.55, for a total value of $48,024.50. Following the transaction, the senior vice president now owns 98,568 shares of the company’s stock, valued at $3,405,524.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Dyne Therapeutics news, SVP Richard William Scalzo sold 1,390 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $34.55, for a total transaction of $48,024.50. Following the completion of the sale, the senior vice president now directly owns 98,568 shares of the company’s stock, valued at $3,405,524.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John Cox purchased 32,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price of $33.04 per share, for a total transaction of $1,057,280.00. Following the purchase, the chief executive officer now directly owns 8,000 shares in the company, valued at $264,320. The disclosure for this purchase can be found here. Insiders sold 12,705 shares of company stock valued at $437,701 over the last 90 days. Company insiders own 20.77% of the company’s stock.

Institutional Trading of Dyne Therapeutics

Several hedge funds have recently bought and sold shares of the stock. RA Capital Management L.P. purchased a new position in shares of Dyne Therapeutics during the 1st quarter valued at about $140,666,000. Janus Henderson Group PLC lifted its holdings in Dyne Therapeutics by 23,512.0% during the first quarter. Janus Henderson Group PLC now owns 2,675,240 shares of the company’s stock valued at $75,915,000 after purchasing an additional 2,663,910 shares in the last quarter. Frazier Life Sciences Management L.P. bought a new position in shares of Dyne Therapeutics in the fourth quarter worth approximately $15,758,000. Price T Rowe Associates Inc. MD increased its stake in shares of Dyne Therapeutics by 8,284.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,132,092 shares of the company’s stock worth $32,141,000 after purchasing an additional 1,118,590 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Dyne Therapeutics by 47.7% in the first quarter. Vanguard Group Inc. now owns 3,440,270 shares of the company’s stock worth $97,669,000 after purchasing an additional 1,110,629 shares in the last quarter. Institutional investors 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.