BMO Capital Markets Begins Coverage on Dyne Therapeutics (NASDAQ:DYN)

Investment analysts at BMO Capital Markets began coverage on shares of Dyne Therapeutics (NASDAQ:DYN) in a report issued on Wednesday, Marketbeat reports. The brokerage set an “outperform” rating and a $50.00 price target on the stock. BMO Capital Markets’ target price points to a potential upside of 320.88% from the stock’s current price.

Several other brokerages have also commented on DYN. Guggenheim reissued a “buy” rating on shares of Dyne Therapeutics in a research note on Friday, January 24th. Chardan Capital reiterated a “buy” rating and set a $50.00 target price on shares of Dyne Therapeutics in a research report on Friday, February 28th. Robert W. Baird began coverage on Dyne Therapeutics in a research report on Friday, December 13th. They issued an “outperform” rating and a $46.00 price target for the company. Baird R W raised Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. Finally, Piper Sandler lowered their price objective on shares of Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Dyne Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $48.85.

Dyne Therapeutics Stock Performance

Dyne Therapeutics stock opened at $11.88 on Wednesday. Dyne Therapeutics has a one year low of $11.18 and a one year high of $47.45. The company has a market cap of $1.34 billion, a P/E ratio of -3.34 and a beta of 1.11. The business has a fifty day moving average of $15.10 and a two-hundred day moving average of $25.73.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings data on Tuesday, March 4th. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.04. Sell-side analysts predict that Dyne Therapeutics will post -3.44 EPS for the current year.

Insider Activity at Dyne Therapeutics

In other news, insider Oxana Beskrovnaya sold 2,598 shares of Dyne Therapeutics stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $13.95, for a total value of $36,242.10. Following the completion of the sale, the insider now owns 199,087 shares of the company’s stock, valued at $2,777,263.65. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have sold 6,237 shares of company stock valued at $77,760. Company 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. FMR LLC lifted its holdings in shares of Dyne Therapeutics by 69.7% during the 3rd quarter. FMR LLC now owns 9,026,697 shares of the company’s stock worth $324,239,000 after acquiring an additional 3,707,734 shares during the period. Janus Henderson Group PLC raised its stake in Dyne Therapeutics by 47.3% during the third quarter. Janus Henderson Group PLC now owns 6,813,163 shares of the company’s stock worth $244,755,000 after purchasing an additional 2,189,339 shares during the period. Jefferies Financial Group Inc. purchased a new position in Dyne Therapeutics during the fourth quarter worth approximately $42,408,000. Norges Bank acquired a new position in shares of Dyne Therapeutics in the 4th quarter valued at $22,384,000. Finally, Point72 Asset Management L.P. grew its stake in shares of Dyne Therapeutics by 802.3% during the 4th quarter. Point72 Asset Management L.P. now owns 924,681 shares of the company’s stock valued at $21,785,000 after buying an additional 822,201 shares during the period. 96.68% of the stock is owned by institutional investors and hedge funds.

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.