HC Wainwright Reiterates Buy Rating for Dyne Therapeutics (NASDAQ:DYN)

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $55.00 target price on the stock. HC Wainwright’s price target would suggest a potential upside of 83.09% from the company’s previous close.

DYN has been the subject of a number of other research reports. Piper Sandler reissued an “overweight” rating and issued a $53.00 price objective on shares of Dyne Therapeutics in a research note on Monday, September 23rd. Oppenheimer restated an “outperform” rating and set a $55.00 price target on shares of Dyne Therapeutics in a research note on Tuesday, September 3rd. StockNews.com lowered shares of Dyne Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, September 16th. Stifel Nicolaus raised their target price on shares of Dyne Therapeutics from $41.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, August 16th. Finally, Guggenheim upped their price target on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.60.

Dyne Therapeutics Price Performance

Shares of NASDAQ:DYN traded up $0.71 on Wednesday, hitting $30.04. 45,985 shares of the company’s stock were exchanged, compared to its average volume of 1,485,476. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of -8.37 and a beta of 1.10. Dyne Therapeutics has a 12 month low of $9.26 and a 12 month high of $47.45. The business’s 50 day simple moving average is $32.63 and its two-hundred day simple moving average is $35.12.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.70) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.02. Equities analysts forecast that Dyne Therapeutics will post -2.99 EPS for the current fiscal year.

Insiders Place Their Bets

In other Dyne Therapeutics news, SVP Richard William Scalzo sold 1,390 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $34.55, for a total transaction of $48,024.50. Following the completion of the transaction, the senior vice president now directly owns 98,568 shares in the company, valued at approximately $3,405,524.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Oxana Beskrovnaya sold 2,339 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $34.55, for a total value of $80,812.45. Following the completion of the sale, the insider now directly owns 140,375 shares in the company, valued at $4,849,956.25. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Richard William Scalzo sold 1,390 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $34.55, for a total transaction of $48,024.50. Following the completion of the sale, the senior vice president now owns 98,568 shares of the company’s stock, valued at $3,405,524.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,975 shares of company stock worth $5,693,789. Company insiders own 20.77% of the company’s stock.

Institutional Investors Weigh In On Dyne Therapeutics

Hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC increased its position in Dyne Therapeutics by 904.1% during the second quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock worth $26,000 after purchasing an additional 669 shares during the last quarter. US Bancorp DE increased its position in Dyne Therapeutics by 776.9% during the third 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. acquired a new stake in Dyne Therapeutics during the third quarter worth about $62,000. KBC Group NV increased its position in Dyne Therapeutics by 53.4% during the third 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. Finally, Amalgamated Bank increased its position in Dyne Therapeutics by 39.9% during the second quarter. Amalgamated Bank now owns 2,792 shares of the company’s stock worth $99,000 after purchasing an additional 796 shares during the last quarter. 96.68% of the stock is currently owned by institutional investors and hedge funds.

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.