JPMorgan Chase & Co. Has Lowered Expectations for Dyne Therapeutics (NASDAQ:DYN) Stock Price

Dyne Therapeutics (NASDAQ:DYN) had its price objective cut by research analysts at JPMorgan Chase & Co. from $18.00 to $17.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 40.73% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. BMO Capital Markets started coverage on Dyne Therapeutics in a report on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price objective on the stock. Raymond James raised Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. Royal Bank of Canada reissued an “outperform” rating and set a $45.00 price objective on shares of Dyne Therapeutics in a report on Tuesday, January 14th. Baird R W raised Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. Finally, HC Wainwright reissued a “buy” rating and set a $46.00 price objective on shares of Dyne Therapeutics in a report on Monday, March 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $47.46.

Dyne Therapeutics Stock Performance

DYN stock opened at $12.08 on Friday. The company has a market capitalization of $1.37 billion, a price-to-earnings ratio of -3.39 and a beta of 1.11. Dyne Therapeutics has a fifty-two week low of $11.18 and a fifty-two week high of $47.45. The stock has a fifty day moving average of $13.60 and a 200-day moving average of $24.20.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.04. Equities analysts predict that Dyne Therapeutics will post -3.44 EPS for the current year.

Insider Activity at Dyne Therapeutics

In related news, insider Oxana Beskrovnaya sold 2,598 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $13.95, for a total transaction of $36,242.10. Following the transaction, the insider now directly owns 199,087 shares in the company, valued at $2,777,263.65. This trade represents a 1.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders have sold 6,237 shares of company stock valued at $77,760. Corporate insiders own 20.77% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of DYN. Victory Capital Management Inc. grew its position in Dyne Therapeutics by 59.4% during the 3rd quarter. Victory Capital Management Inc. now owns 30,537 shares of the company’s stock worth $1,097,000 after acquiring an additional 11,385 shares during the last quarter. KBC Group NV grew its position in Dyne Therapeutics by 53.4% during the 3rd quarter. KBC Group NV now owns 2,157 shares of the company’s stock worth $77,000 after acquiring an additional 751 shares during the last quarter. Quest Partners LLC grew its position in Dyne Therapeutics by 898.3% during the 3rd quarter. Quest Partners LLC now owns 3,434 shares of the company’s stock worth $123,000 after acquiring an additional 3,090 shares during the last quarter. Jennison Associates LLC grew 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 acquiring an additional 19,730 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Dyne Therapeutics during the 3rd quarter worth approximately $1,478,000. 96.68% of the stock is currently owned by institutional investors.

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.