Dyne Therapeutics’ (DYN) Buy Rating Reaffirmed at Chardan Capital

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “buy” rating reiterated by equities researchers at Chardan Capital in a research report issued on Wednesday, Benzinga reports. They currently have a $38.00 price target on the stock. Chardan Capital’s price objective points to a potential upside of 134.42% from the stock’s previous close.

A number of other research firms have also weighed in on DYN. Piper Sandler restated an “overweight” rating and set a $47.00 price objective on shares of Dyne Therapeutics in a research note on Tuesday. JPMorgan Chase & Co. lowered shares of Dyne Therapeutics from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $17.00 to $10.00 in a research note on Wednesday, September 9th. Jefferies Financial Group restated a “buy” rating on shares of Dyne Therapeutics in a research note on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Dyne Therapeutics in a report on Friday, July 17th. Finally, Wall Street Zen downgraded Dyne Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Two analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.92.

Dyne Therapeutics Price Performance

Shares of NASDAQ DYN opened at $16.21 on Wednesday. Dyne Therapeutics has a fifty-two week low of $12.26 and a fifty-two week high of $27.31. The company has a 50 day simple moving average of $23.01 and a two-hundred day simple moving average of $20.61. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of -4.87 and a beta of 1.08. The company has a debt-to-equity ratio of 0.28, a quick ratio of 12.02 and a current ratio of 12.02.

Dyne Therapeutics (NASDAQ:DYN) last announced its earnings results on Wednesday, July 29th. The company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.33). Analysts expect that Dyne Therapeutics will post -3.59 EPS for the current fiscal year.

Insider Activity

In other news, CEO John Cox sold 5,658 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $18.88, for a total transaction of $106,823.04. Following the completion of the sale, the chief executive officer owned 357,507 shares of the company’s stock, valued at $6,749,732.16. The trade was a 1.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jason Rhodes sold 2,160,516 shares of the business’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $25.00, for a total transaction of $54,012,900.00. Following the sale, the director directly owned 428,946 shares of the company’s stock, valued at approximately $10,723,650. The trade was a 83.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,376,157 shares of company stock valued at $83,290,469 in the last 90 days. Company insiders own 9.46% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

A number of hedge funds have recently modified their holdings of DYN. NewEdge Advisors LLC bought a new position in shares of Dyne Therapeutics in the second quarter worth approximately $300,000. Nykredit A S bought a new position in shares of Dyne Therapeutics in the second quarter worth approximately $113,000. Moore Capital Management LP boosted its position in shares of Dyne Therapeutics by 288.2% in the second quarter. Moore Capital Management LP now owns 305,794 shares of the company’s stock worth $6,792,000 after purchasing an additional 227,029 shares during the period. Two Sigma Securities LLC bought a new position in shares of Dyne Therapeutics in the second quarter worth approximately $222,000. Finally, Alyeska Investment Group L.P. bought a new position in Dyne Therapeutics in the 2nd quarter worth approximately $5,448,000. 96.68% of the stock is currently owned by institutional investors.

Dyne Therapeutics Company Profile

Dyne Therapeutics, Inc is a biotechnology company focused on developing treatments for genetically driven muscle diseases. The company uses its FORCE platform, which is designed to deliver oligonucleotide therapeutics to skeletal muscle and other tissues by combining muscle-targeting antibodies with genetic medicines.

Dyne’s research and development programs are aimed at conditions in which the underlying genetic mutations impair muscle function. Its pipeline has included DYNE-101 for myotonic dystrophy type 1 and DYNE-251 for Duchenne muscular dystrophy in patients with mutations amenable to exon 51 skipping.