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

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “buy” rating reaffirmed by Chardan Capital in a research note issued on Friday,Benzinga reports. They currently have a $50.00 price objective on the stock. Chardan Capital’s target price would indicate a potential upside of 223.21% from the company’s current price.

DYN has been the topic of a number of other research reports. JPMorgan Chase & Co. lowered shares of Dyne Therapeutics from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $43.00 to $35.00 in a report on Thursday, October 24th. Robert W. Baird assumed coverage on shares of Dyne Therapeutics in a report on Friday, December 13th. They issued an “outperform” rating and a $46.00 price target on the stock. Piper Sandler reissued an “overweight” rating and issued a $53.00 price target on shares of Dyne Therapeutics in a report on Monday, September 23rd. Baird R W raised shares of Dyne Therapeutics to a “strong-buy” rating in a research report on Thursday, December 12th. Finally, Raymond James raised shares of Dyne Therapeutics to a “strong-buy” rating in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $49.91.

Dyne Therapeutics Trading Down 32.9 %

Shares of NASDAQ:DYN traded down $7.58 during trading on Friday, reaching $15.47. The company had a trading volume of 6,254,997 shares, compared to its average volume of 1,834,495. The company has a fifty day moving average of $27.29 and a two-hundred day moving average of $34.15. The stock has a market capitalization of $1.57 billion, a P/E ratio of -4.35 and a beta of 1.16. Dyne Therapeutics has a 12 month low of $14.79 and a 12 month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last released its earnings results 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, equities research analysts predict that Dyne Therapeutics will post -3.45 earnings per share for the current year.

Insider Buying and Selling at Dyne Therapeutics

In other Dyne Therapeutics news, SVP Richard William Scalzo sold 1,455 shares of Dyne Therapeutics stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $28.12, for a total transaction of $40,914.60. Following the transaction, the senior vice president now owns 127,078 shares of the company’s stock, valued at $3,573,433.36. The trade was a 1.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dirk Kersten sold 23,671 shares of Dyne Therapeutics stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $35.35, for a total transaction of $836,769.85. Following the transaction, the director now directly owns 99,652 shares in the company, valued at $3,522,698.20. This represents a 19.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 44,742 shares of company stock worth $1,443,246. 20.77% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in DYN. State of New Jersey Common Pension Fund D purchased a new position in shares of Dyne Therapeutics in the 3rd quarter valued at approximately $1,588,000. Seven Eight Capital LP grew its stake in shares of Dyne Therapeutics by 195.7% during the 2nd quarter. Seven Eight Capital LP now owns 53,739 shares of the company’s stock worth $1,896,000 after purchasing an additional 35,568 shares during the period. Jennison Associates LLC grew its stake in Dyne Therapeutics by 1.5% in the 3rd quarter. Jennison Associates LLC now owns 1,346,952 shares of the company’s stock valued at $48,383,000 after acquiring an additional 19,730 shares during the period. Mutual of America Capital Management LLC acquired a new stake in Dyne Therapeutics in the 2nd quarter valued at $1,724,000. Finally, RA Capital Management L.P. grew its stake in Dyne Therapeutics by 5.5% in the 3rd quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company’s stock valued at $229,211,000 after acquiring an additional 331,940 shares during the period. 96.68% of the stock is currently owned by 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.