Royal Bank of Canada Reaffirms Outperform Rating for Dyne Therapeutics (NASDAQ:DYN)

Royal Bank of Canada reaffirmed their outperform rating on shares of Dyne Therapeutics (NASDAQ:DYN) in a research note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a $45.00 price objective on the stock.

Several other analysts also recently weighed in on DYN. Piper Sandler reiterated an “overweight” rating and issued a $53.00 price objective on shares of Dyne Therapeutics in a research report on Monday, September 23rd. Raymond James upgraded Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. Chardan Capital restated a “buy” rating and set a $50.00 target price on shares of Dyne Therapeutics in a report on Friday, January 10th. Baird R W upgraded Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. Finally, StockNews.com downgraded Dyne Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $49.91.

Dyne Therapeutics Price Performance

Shares of DYN opened at $15.00 on Tuesday. The firm has a market cap of $1.53 billion, a P/E ratio of -4.21 and a beta of 1.16. The stock has a 50 day simple moving average of $26.77 and a two-hundred day simple moving average of $33.88. Dyne Therapeutics has a 1 year low of $14.79 and a 1 year high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.25). On average, equities analysts anticipate that Dyne Therapeutics will post -3.44 earnings per share for the current year.

Insider Activity

In other Dyne Therapeutics news, SVP Richard William Scalzo sold 1,455 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $28.12, for a total value of $40,914.60. Following the completion of the sale, the senior vice president now directly owns 127,078 shares in the company, valued at approximately $3,573,433.36. This represents a 1.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jason P. Rhodes sold 782 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $33.10, for a total value of $25,884.20. Following the completion of the sale, the director now owns 15,962 shares of the company’s stock, valued at $528,342.20. This represents a 4.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,071 shares of company stock valued at $606,476. 20.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Dyne Therapeutics

Hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in shares of Dyne Therapeutics in the 3rd quarter worth $34,000. Point72 DIFC Ltd purchased a new stake in shares of Dyne Therapeutics during the 3rd quarter worth $36,000. US Bancorp DE lifted its stake in shares of Dyne Therapeutics by 776.9% during the 3rd quarter. US Bancorp DE now owns 1,368 shares of the company’s stock worth $49,000 after purchasing an additional 1,212 shares during the last quarter. Values First Advisors Inc. purchased a new stake in shares of Dyne Therapeutics during the 3rd quarter worth $62,000. Finally, KBC Group NV lifted its stake in shares of Dyne Therapeutics by 53.4% during the 3rd quarter. KBC Group NV now owns 2,157 shares of the company’s stock worth $77,000 after purchasing an additional 751 shares during the last quarter. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

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.