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

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “buy” rating reiterated by HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They currently have a $55.00 price objective on the stock. HC Wainwright’s target price points to a potential upside of 246.57% from the stock’s current price.

Several other equities analysts have also issued reports on DYN. StockNews.com lowered Dyne Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, September 16th. Royal Bank of Canada started coverage on Dyne Therapeutics in a report on Tuesday, November 26th. They issued an “outperform” rating and a $45.00 price objective on the stock. Piper Sandler reiterated an “overweight” rating and issued a $53.00 price objective on shares of Dyne Therapeutics in a report on Monday, September 23rd. Chardan Capital reiterated a “buy” rating and issued a $50.00 price objective on shares of Dyne Therapeutics in a report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. downgraded Dyne Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $43.00 to $35.00 in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Dyne Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $49.91.

Dyne Therapeutics Price Performance

Shares of NASDAQ:DYN opened at $15.87 on Friday. The business’s 50 day moving average price is $27.04 and its 200-day moving average price is $34.02. The firm has a market capitalization of $1.62 billion, a PE ratio of -4.46 and a beta of 1.16. Dyne Therapeutics has a 1 year low of $14.79 and a 1 year high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.71) by ($0.25). As a group, analysts expect that Dyne Therapeutics will post -3.44 earnings per share for the current year.

Insider Activity

In other Dyne Therapeutics news, Director Jason P. Rhodes sold 782 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $33.10, for a total transaction of $25,884.20. Following the transaction, the director now owns 15,962 shares in the company, valued at $528,342.20. The trade was a 4.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Richard William Scalzo sold 1,455 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $28.12, for a total value of $40,914.60. Following the transaction, the senior vice president now owns 127,078 shares in the company, valued at approximately $3,573,433.36. This represents a 1.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,742 shares of company stock valued at $1,443,246 over the last quarter. Company insiders own 20.77% of the company’s stock.

Institutional Trading of Dyne Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. increased its holdings in Dyne Therapeutics by 4.3% in the third quarter. JPMorgan Chase & Co. now owns 101,750 shares of the company’s stock valued at $3,655,000 after buying an additional 4,236 shares during the last quarter. Virtue Capital Management LLC grew its holdings in shares of Dyne Therapeutics by 4.4% during the third quarter. Virtue Capital Management LLC now owns 23,208 shares of the company’s stock valued at $834,000 after purchasing an additional 981 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Dyne Therapeutics by 4.8% during the third quarter. Geode Capital Management LLC now owns 1,859,413 shares of the company’s stock valued at $66,802,000 after purchasing an additional 84,760 shares during the last quarter. Barclays PLC grew its holdings in shares of Dyne Therapeutics by 162.2% during the third quarter. Barclays PLC now owns 207,309 shares of the company’s stock valued at $7,446,000 after purchasing an additional 128,246 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in shares of Dyne Therapeutics during the third quarter valued at approximately $1,067,000. 96.68% of the stock is 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.