HC Wainwright Has Lowered Expectations for Dyne Therapeutics (NASDAQ:DYN) Stock Price

Dyne Therapeutics (NASDAQ:DYN) had its price target dropped by HC Wainwright from $60.00 to $50.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright’s price target would indicate a potential upside of 228.30% from the company’s previous close.

A number of other research analysts have also weighed in on DYN. Morgan Stanley reduced their price objective on shares of Dyne Therapeutics from $50.00 to $47.00 and set an “overweight” rating for the company in a research note on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Dyne Therapeutics in a research note on Wednesday, January 21st. Raymond James Financial restated a “strong-buy” rating and set a $40.00 target price on shares of Dyne Therapeutics in a research report on Monday, December 8th. Tudor Pickering set a $23.00 price target on Dyne Therapeutics in a report on Tuesday, December 9th. Finally, Evercore dropped their price target on Dyne Therapeutics from $38.00 to $36.00 and set an “outperform” rating for the company in a research report on Monday, December 15th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Dyne Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Dyne Therapeutics Price Performance

Dyne Therapeutics stock opened at $15.23 on Tuesday. The business’s 50 day simple moving average is $17.26 and its 200 day simple moving average is $17.04. Dyne Therapeutics has a 12 month low of $6.36 and a 12 month high of $25.00. The company has a market cap of $2.51 billion, a price-to-earnings ratio of -4.30 and a beta of 1.34. The company has a current ratio of 22.25, a quick ratio of 13.47 and a debt-to-equity ratio of 0.15.

Dyne Therapeutics (NASDAQ:DYN) last issued its earnings results on Monday, March 2nd. The company reported ($0.76) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($0.02). Sell-side analysts forecast that Dyne Therapeutics will post -3.44 EPS for the current year.

Hedge Funds Weigh In On Dyne Therapeutics

A number of hedge funds have recently modified their holdings of DYN. T. Rowe Price Investment Management Inc. grew its position in shares of Dyne Therapeutics by 523.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,540,089 shares of the company’s stock worth $343,085,000 after buying an additional 14,727,667 shares during the last quarter. Vanguard Group Inc. raised its holdings in Dyne Therapeutics by 14.9% in the fourth quarter. Vanguard Group Inc. now owns 11,215,565 shares of the company’s stock worth $219,376,000 after buying an additional 1,455,151 shares during the last quarter. State Street Corp lifted its position in Dyne Therapeutics by 27.0% in the 4th quarter. State Street Corp now owns 6,692,745 shares of the company’s stock valued at $130,910,000 after acquiring an additional 1,423,828 shares in the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in Dyne Therapeutics by 45.5% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 5,172,000 shares of the company’s stock worth $101,164,000 after buying an additional 1,618,000 shares in the last quarter. Finally, Orbis Allan Gray Ltd purchased a new position in Dyne Therapeutics in the 4th quarter worth about $93,926,000. Hedge funds and other institutional investors own 96.68% of the company’s stock.

Dyne Therapeutics Company Profile

Dyne Therapeutics is a clinical-stage biotechnology company specializing in the development of localized gene regulation therapies for serious rare diseases. The company’s proprietary FORCE (Facilitated Orthogonal Receptor‐mediated Cargo Evaluation) platform is designed to enable targeted delivery of oligonucleotide and gene therapy modalities to skeletal and respiratory muscles. Dyne’s lead programs focus on Duchenne muscular dystrophy (DMD), myotonic dystrophy type 1 (DM1) and facioscapulohumeral muscular dystrophy (FSHD), with preclinical and early clinical studies evaluating safety, tolerability and tissue specificity.

Since its founding in 2019 by Flagship Pioneering, Dyne has advanced multiple product candidates using its modular delivery approach, which couples engineered ligands with therapeutic payloads to improve uptake into muscle cells.