Dyne Therapeutics (NASDAQ:DYN) Coverage Initiated at Royal Bank of Canada

Analysts at Royal Bank of Canada assumed coverage on shares of Dyne Therapeutics (NASDAQ:DYN) in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $45.00 price target on the stock. Royal Bank of Canada’s target price points to a potential upside of 44.56% from the company’s current price.

A number of other analysts have also weighed in on DYN. Guggenheim raised their price objective on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. lowered shares of Dyne Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $43.00 to $35.00 in a report on Thursday, October 24th. 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. Chardan Capital restated a “buy” rating and issued a $50.00 price target on shares of Dyne Therapeutics in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus increased their price objective on Dyne Therapeutics from $41.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Dyne Therapeutics currently has an average rating of “Moderate Buy” and a consensus target price of $50.82.

Dyne Therapeutics Stock Performance

DYN stock opened at $31.13 on Tuesday. The firm has a 50 day moving average price of $31.95 and a 200-day moving average price of $35.42. Dyne Therapeutics has a 52-week low of $10.12 and a 52-week high of $47.45. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of -8.15 and a beta of 1.10.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.25). As a group, sell-side analysts forecast that Dyne Therapeutics will post -3.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Carlo Incerti sold 16,500 shares of the stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dirk Kersten sold 79,411 shares of Dyne Therapeutics stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $36.45, for a total transaction of $2,894,530.95. Following the transaction, the director now directly owns 234,127 shares in the company, valued at $8,533,929.15. This represents a 25.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 176,257 shares of company stock worth $6,193,718 over the last quarter. 20.77% of the stock is currently owned by corporate insiders.

Institutional Trading of Dyne Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its stake in Dyne Therapeutics by 69.7% during the third quarter. FMR LLC now owns 9,026,697 shares of the company’s stock valued at $324,239,000 after acquiring an additional 3,707,734 shares in the last quarter. RTW Investments LP grew its position in shares of Dyne Therapeutics by 6.8% during the third quarter. RTW Investments LP now owns 6,818,641 shares of the company’s stock valued at $244,926,000 after purchasing an additional 431,503 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Dyne Therapeutics by 47.3% in the third quarter. Janus Henderson Group PLC now owns 6,813,163 shares of the company’s stock worth $244,755,000 after purchasing an additional 2,189,339 shares during the last quarter. RA Capital Management L.P. lifted its position 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. Finally, State Street Corp boosted its stake in Dyne Therapeutics by 13.8% during the third quarter. State Street Corp now owns 3,641,859 shares of the company’s stock valued at $130,816,000 after buying an additional 440,890 shares during 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.