Brokerages Set Dyne Therapeutics, Inc. (NASDAQ:DYN) Price Target at $50.82

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) have been given a consensus recommendation of “Buy” by the eleven analysts that are presently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $50.82.

Several analysts recently issued reports on DYN shares. Stifel Nicolaus upped their price objective on shares of Dyne Therapeutics from $41.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, August 16th. JPMorgan Chase & Co. cut Dyne Therapeutics from an “overweight” rating to a “neutral” rating and cut their price target for the company from $43.00 to $35.00 in a report on Thursday, October 24th. Chardan Capital reiterated a “buy” rating and set a $50.00 price objective on shares of Dyne Therapeutics in a research report on Wednesday, November 13th. Royal Bank of Canada assumed coverage on Dyne Therapeutics in a report on Tuesday, November 26th. They issued an “outperform” rating and a $45.00 target price for the company. Finally, Guggenheim lifted their price target on Dyne Therapeutics from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, August 15th.

Insider Activity at Dyne Therapeutics

In related news, Director Carlo Incerti sold 16,500 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $28.73, for a total transaction of $474,045.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dirk Kersten sold 79,411 shares of Dyne Therapeutics stock in a transaction 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 completion of the transaction, the director now owns 234,127 shares in the company, valued at approximately $8,533,929.15. This represents a 25.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 176,257 shares of company stock valued at $6,193,718 in the last ninety days. Insiders own 20.77% of the company’s stock.

Institutional Trading of Dyne Therapeutics

A number of hedge funds have recently added to or reduced their stakes in DYN. State of New Jersey Common Pension Fund D purchased a new stake in shares of Dyne Therapeutics in the third quarter valued at about $1,588,000. Seven Eight Capital LP boosted its holdings in Dyne Therapeutics by 195.7% in the 2nd quarter. Seven Eight Capital LP now owns 53,739 shares of the company’s stock valued at $1,896,000 after purchasing an additional 35,568 shares in the last quarter. Jennison Associates LLC increased its position in Dyne Therapeutics by 1.5% during the 3rd quarter. Jennison Associates LLC now owns 1,346,952 shares of the company’s stock worth $48,383,000 after purchasing an additional 19,730 shares during the period. Mutual of America Capital Management LLC purchased a new position in shares of Dyne Therapeutics during the 2nd quarter worth approximately $1,724,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Dyne Therapeutics in the 2nd quarter valued at approximately $676,000. 96.68% of the stock is owned by institutional investors and hedge funds.

Dyne Therapeutics Price Performance

Shares of Dyne Therapeutics stock opened at $28.67 on Thursday. The stock has a market capitalization of $2.92 billion, a P/E ratio of -8.05 and a beta of 1.09. The business has a 50 day simple moving average of $30.97 and a two-hundred day simple moving average of $35.38. Dyne Therapeutics has a 12 month low of $10.33 and a 12 month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.25). As a group, research analysts anticipate that Dyne Therapeutics will post -3.45 EPS for the current fiscal year.

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.