Brokerages Set Dyne Therapeutics, Inc. (NASDAQ:DYN) PT at $51.40

Dyne Therapeutics, Inc. (NASDAQ:DYN) has been assigned a consensus rating of “Buy” from the ten brokerages that are currently covering the company, MarketBeat Ratings reports. Nine research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $51.40.

Several equities research analysts have weighed in on the stock. Piper Sandler reiterated an “overweight” rating and issued a $53.00 target price on shares of Dyne Therapeutics in a report on Monday, September 23rd. StockNews.com lowered Dyne Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Guggenheim increased their price target on Dyne Therapeutics from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. Oppenheimer reiterated an “outperform” rating and set a $55.00 price objective on shares of Dyne Therapeutics in a report on Tuesday, September 3rd. Finally, Stifel Nicolaus increased their target price on Dyne Therapeutics from $41.00 to $66.00 and gave the stock a “buy” rating in a research note on Friday, August 16th.

Insider Activity

In related news, CEO John Cox acquired 32,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were bought 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 approximately $264,320. This trade represents a -100.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO John Cox bought 32,000 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were bought at an average cost of $33.04 per share, with a total value of $1,057,280.00. Following the acquisition, the chief executive officer now owns 8,000 shares in the company, valued at $264,320. This trade represents a -100.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Richard William Scalzo sold 1,390 shares of Dyne Therapeutics 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 trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 158,975 shares of company stock worth $5,693,789 in the last quarter. Corporate insiders own 20.77% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. RA Capital Management L.P. bought a new position in shares of Dyne Therapeutics during the first quarter worth approximately $140,666,000. Vanguard Group Inc. lifted its holdings in shares of Dyne Therapeutics by 47.7% during the first quarter. Vanguard Group Inc. now owns 3,440,270 shares of the company’s stock worth $97,669,000 after buying an additional 1,110,629 shares in the last quarter. Janus Henderson Group PLC boosted its position in shares of Dyne Therapeutics by 23,512.0% in the first quarter. Janus Henderson Group PLC now owns 2,675,240 shares of the company’s stock valued at $75,915,000 after acquiring an additional 2,663,910 shares during the period. Artal Group S.A. boosted its position in shares of Dyne Therapeutics by 24.6% in the first quarter. Artal Group S.A. now owns 1,517,960 shares of the company’s stock valued at $43,095,000 after acquiring an additional 300,000 shares during the period. Finally, Federated Hermes Inc. grew its stake in shares of Dyne Therapeutics by 10.4% in the second quarter. Federated Hermes Inc. now owns 1,215,112 shares of the company’s stock valued at $42,881,000 after acquiring an additional 114,888 shares in the last quarter. 96.68% of the stock is currently owned by institutional investors and hedge funds.

Dyne Therapeutics Stock Performance

Shares of DYN stock opened at $35.24 on Wednesday. The firm’s 50 day moving average price is $37.55 and its two-hundred day moving average price is $34.49. The stock has a market cap of $3.08 billion, a PE ratio of -8.88 and a beta of 1.05. Dyne Therapeutics has a 52-week low of $6.40 and a 52-week high of $47.45.

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

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.