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

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “buy” rating restated by investment analysts at Chardan Capital in a report issued on Friday,Benzinga reports. They currently have a $50.00 target price on the stock. Chardan Capital’s price objective would suggest a potential upside of 215.06% from the stock’s current price.

Several other research firms have also recently weighed in on DYN. Piper Sandler reissued an “overweight” rating and set a $53.00 price objective on shares of Dyne Therapeutics in a report on Monday, September 23rd. HC Wainwright reissued a “buy” rating and set a $55.00 price target on shares of Dyne Therapeutics in a report on Friday. JPMorgan Chase & Co. lowered Dyne Therapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $43.00 to $35.00 in a report on Thursday, October 24th. Baird R W raised Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. Finally, Royal Bank of Canada initiated coverage on Dyne Therapeutics in a research note on Tuesday, November 26th. They set an “outperform” rating and a $45.00 price target for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.91.

Dyne Therapeutics Price Performance

Dyne Therapeutics stock opened at $15.87 on Friday. The stock’s 50 day moving average is $27.04 and its 200 day moving average is $34.02. Dyne Therapeutics has a one year low of $14.79 and a one year high of $47.45. The firm has a market cap of $1.62 billion, a P/E ratio of -4.46 and a beta of 1.16.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.25). Equities analysts anticipate that Dyne Therapeutics will post -3.44 earnings per share for the current fiscal year.

Insider Activity at Dyne Therapeutics

In other Dyne Therapeutics news, SVP Richard William Scalzo sold 1,455 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $28.12, for a total value of $40,914.60. Following the completion of the sale, the senior vice president now owns 127,078 shares of the company’s stock, valued at $3,573,433.36. This trade represents 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 at this hyperlink. Also, Director Dirk Kersten sold 23,671 shares of the business’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $35.35, for a total value of $836,769.85. Following the transaction, the director now owns 99,652 shares of the company’s stock, valued at $3,522,698.20. This trade represents a 19.19 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,742 shares of company stock valued at $1,443,246. Insiders own 20.77% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its holdings in shares of Dyne Therapeutics by 23.7% in the 2nd quarter. Rhumbline Advisers now owns 121,595 shares of the company’s stock worth $4,291,000 after buying an additional 23,266 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Dyne Therapeutics in the second quarter valued at about $676,000. Arizona State Retirement System raised its holdings in shares of Dyne Therapeutics by 26.9% in the second quarter. Arizona State Retirement System now owns 15,070 shares of the company’s stock valued at $532,000 after acquiring an additional 3,199 shares in the last quarter. American Century Companies Inc. bought a new position in Dyne Therapeutics during the 2nd quarter worth about $228,000. Finally, Federated Hermes Inc. grew its holdings in Dyne Therapeutics by 10.4% during the 2nd quarter. Federated Hermes Inc. now owns 1,215,112 shares of the company’s stock worth $42,881,000 after acquiring an additional 114,888 shares in the last quarter. 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.