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

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “buy” rating reaffirmed by research analysts at Chardan Capital in a research report issued to clients and investors on Wednesday, Benzinga reports. They currently have a $38.00 target price on the stock. Chardan Capital’s target price suggests a potential upside of 131.68% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Raymond James Financial reissued a “strong-buy” rating and issued a $37.00 price objective on shares of Dyne Therapeutics in a research note on Tuesday, September 8th. Wall Street Zen cut Dyne Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 1st. JPMorgan Chase & Co. downgraded Dyne Therapeutics from a “neutral” rating to an “underweight” rating and reduced their price target for the stock from $17.00 to $10.00 in a report on Wednesday, September 9th. Royal Bank Of Canada decreased their price target on Dyne Therapeutics from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, September 9th. Finally, Piper Sandler restated an “overweight” rating and set a $47.00 price objective on shares of Dyne Therapeutics in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $33.21.

Dyne Therapeutics Price Performance

Shares of NASDAQ DYN traded up $0.19 during midday trading on Wednesday, reaching $16.40. The stock had a trading volume of 1,373,750 shares, compared to its average volume of 2,229,011. The stock has a 50-day moving average of $23.01 and a 200-day moving average of $20.61. The company has a debt-to-equity ratio of 0.28, a quick ratio of 12.02 and a current ratio of 12.02. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of -4.92 and a beta of 1.08. Dyne Therapeutics has a 12-month low of $12.33 and a 12-month high of $27.31.

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

Insider Buying and Selling

In related news, CEO John Cox sold 5,658 shares of Dyne Therapeutics stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $18.88, for a total transaction of $106,823.04. Following the completion of the transaction, the chief executive officer directly owned 357,507 shares in the company, valued at approximately $6,749,732.16. This trade represents a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Douglas Kerr sold 3,745 shares of the company’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $24.35, for a total transaction of $91,190.75. Following the completion of the transaction, the insider owned 163,854 shares of the company’s stock, valued at approximately $3,989,844.90. This trade represents a 2.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 3,376,157 shares of company stock valued at $83,290,469 over the last 90 days. Insiders own 9.46% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new position in Dyne Therapeutics in the 2nd quarter valued at about $275,500,000. Jupiter Topco LLC purchased a new position in Dyne Therapeutics in the 2nd quarter valued at $266,634,000. Perceptive Advisors LLC increased its stake in Dyne Therapeutics by 543.7% in the 4th quarter. Perceptive Advisors LLC now owns 3,478,944 shares of the company’s stock valued at $68,048,000 after buying an additional 2,938,500 shares during the period. Bank of America Corp DE acquired a new position in Dyne Therapeutics in the 2nd quarter valued at $49,604,000. Finally, Palo Alto Investors LP purchased a new position in Dyne Therapeutics during the 2nd quarter worth $36,591,441. 96.68% of the stock is currently owned by institutional investors and hedge funds.

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.