Chardan Capital Reiterates Buy Rating for Dyne Therapeutics (NASDAQ:DYN)

Chardan Capital reaffirmed their buy rating on shares of Dyne Therapeutics (NASDAQ:DYN) in a research note published on Monday morning, Benzinga reports. The brokerage currently has a $31.00 target price on the stock. Chardan Capital also issued estimates for Dyne Therapeutics’ FY2024 earnings at ($2.87) EPS and FY2025 earnings at ($2.94) EPS.

Several other equities analysts have also recently issued reports on DYN. Oppenheimer reiterated an outperform rating and issued a $47.00 price target on shares of Dyne Therapeutics in a report on Tuesday, March 26th. HC Wainwright reaffirmed a buy rating and issued a $36.00 target price on shares of Dyne Therapeutics in a research note on Friday, May 3rd. Morgan Stanley started coverage on shares of Dyne Therapeutics in a research note on Tuesday, April 30th. They set an overweight rating and a $40.00 price target for the company. Piper Sandler raised their price objective on shares of Dyne Therapeutics from $27.00 to $29.00 and gave the company an overweight rating in a research note on Wednesday, March 6th. Finally, Stifel Nicolaus upped their target price on shares of Dyne Therapeutics from $35.00 to $41.00 and gave the company a buy rating in a research report on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $37.75.

Dyne Therapeutics Trading Up 1.0 %

Shares of NASDAQ DYN opened at $25.95 on Monday. Dyne Therapeutics has a 1-year low of $6.40 and a 1-year high of $30.27. The company has a 50-day moving average of $26.47 and a two-hundred day moving average of $18.93. The company has a market cap of $2.27 billion, a PE ratio of -6.54 and a beta of 1.00.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.17). As a group, equities research analysts forecast that Dyne Therapeutics will post -3.27 earnings per share for the current year.

Insider Buying and Selling at Dyne Therapeutics

In related news, insider Wildon Farwell sold 5,493 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $25.07, for a total transaction of $137,709.51. Following the sale, the insider now owns 163,503 shares of the company’s stock, valued at approximately $4,099,020.21. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Dyne Therapeutics news, major shareholder Venture Fund Xi L.P. Atlas sold 184,501 shares of Dyne Therapeutics stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $22.57, for a total value of $4,164,187.57. Following the transaction, the insider now owns 6,631,464 shares of the company’s stock, valued at $149,672,142.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Wildon Farwell sold 5,493 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $25.07, for a total transaction of $137,709.51. Following the completion of the transaction, the insider now owns 163,503 shares of the company’s stock, valued at approximately $4,099,020.21. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,875,432 shares of company stock valued at $44,368,530. Corporate insiders own 20.77% of the company’s stock.

Institutional Investors Weigh In On Dyne Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wetzel Investment Advisors Inc. bought a new stake in Dyne Therapeutics in the 1st quarter valued at approximately $28,000. China Universal Asset Management Co. Ltd. boosted its holdings in Dyne Therapeutics by 355.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,099 shares of the company’s stock worth $94,000 after purchasing an additional 5,541 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Dyne Therapeutics by 58.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,379 shares of the company’s stock valued at $75,000 after purchasing an additional 3,092 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Dyne Therapeutics by 95.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,310 shares of the company’s stock valued at $83,000 after purchasing an additional 4,552 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Dyne Therapeutics in the 4th quarter valued at $172,000. 96.68% of the stock is currently owned by institutional investors and hedge funds.

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.