Dyne Therapeutics (NASDAQ:DYN) Now Covered by Royal Bank of Canada

Stock analysts at Royal Bank of Canada initiated coverage on shares of Dyne Therapeutics (NASDAQ:DYN) in a report released on Tuesday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $45.00 price target on the stock. Royal Bank of Canada’s price target suggests a potential upside of 52.80% from the company’s previous close.

A number of other research firms have also weighed in on DYN. Stifel Nicolaus upped their price objective on Dyne Therapeutics from $41.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, August 16th. Chardan Capital reissued a “buy” rating and set a $50.00 price objective on shares of Dyne Therapeutics in a research report on Wednesday, November 13th. StockNews.com cut shares of Dyne Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Piper Sandler reiterated an “overweight” rating and set a $53.00 price target on shares of Dyne Therapeutics in a report on Monday, September 23rd. Finally, Morgan Stanley boosted their target price on shares of Dyne Therapeutics from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $50.82.

Dyne Therapeutics Stock Performance

Dyne Therapeutics stock opened at $29.45 on Tuesday. The firm has a 50 day moving average price of $32.06 and a 200 day moving average price of $35.40. Dyne Therapeutics has a fifty-two week low of $10.12 and a fifty-two week high of $47.45. The company has a market capitalization of $3.00 billion, a PE ratio of -8.27 and a beta of 1.10.

Dyne Therapeutics (NASDAQ:DYN) last released its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.25). As a group, equities research analysts forecast that Dyne Therapeutics will post -3.45 earnings per share for the current year.

Insider Buying and Selling at Dyne Therapeutics

In related news, SVP Richard William Scalzo sold 1,390 shares of the business’s 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 in the company, valued at $3,405,524.40. The trade was a 1.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jason P. Rhodes sold 782 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 15,962 shares of the company’s stock, valued at $528,342.20. The trade was a 4.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 176,257 shares of company stock worth $6,193,718. 20.77% of the stock is owned by insiders.

Institutional Investors Weigh In On Dyne Therapeutics

Several large investors have recently modified their holdings of DYN. Nisa Investment Advisors LLC increased its stake in Dyne Therapeutics by 904.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock valued at $26,000 after buying an additional 669 shares during the period. Quantbot Technologies LP acquired a new position in shares of Dyne Therapeutics during the third quarter worth about $34,000. Point72 DIFC Ltd purchased a new position in Dyne Therapeutics during the third quarter worth about $36,000. US Bancorp DE lifted its position in Dyne Therapeutics by 776.9% in the third quarter. US Bancorp DE now owns 1,368 shares of the company’s stock valued at $49,000 after purchasing an additional 1,212 shares during the period. Finally, Values First Advisors Inc. purchased a new stake in Dyne Therapeutics in the 3rd quarter valued at approximately $62,000. Hedge funds and other 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.