Dyne Therapeutics (NASDAQ:DYN) Price Target Raised to $35.00

Dyne Therapeutics (NASDAQ:DYN) had its price target raised by Royal Bank Of Canada from $30.00 to $35.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an outperform rating on the stock.

DYN has been the subject of several other research reports. Evercore set a $33.00 price target on shares of Dyne Therapeutics in a research note on Friday, May 15th. TD Cowen started coverage on shares of Dyne Therapeutics in a report on Friday, June 26th. They set a “buy” rating on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Dyne Therapeutics in a report on Friday, July 17th. Wall Street Zen raised Dyne Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Monday, July 6th. Finally, Sanford C. Bernstein raised their target price on shares of Dyne Therapeutics from $23.00 to $24.00 and gave the stock a “market perform” rating in a research report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.42.

Dyne Therapeutics Stock Down 2.1%

DYN stock opened at $25.18 on Thursday. The firm has a market cap of $4.70 billion, a PE ratio of -7.56 and a beta of 1.06. Dyne Therapeutics has a one year low of $9.57 and a one year high of $26.26. The firm’s 50 day moving average price is $21.24 and its 200-day moving average price is $18.87. The company has a debt-to-equity ratio of 0.28, a quick ratio of 19.92 and a current ratio of 12.02.

Dyne Therapeutics (NASDAQ:DYN) last announced its earnings results on Thursday, July 30th. The company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.75) by ($0.33). On average, equities research analysts anticipate that Dyne Therapeutics will post -3.28 EPS for the current year.

Insider Transactions at Dyne Therapeutics

In other news, Director Jason P. Rhodes sold 480,240 shares of the stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $22.79, for a total transaction of $10,944,669.60. Following the completion of the transaction, the director directly owned 875,912 shares of the company’s stock, valued at approximately $19,962,034.48. This represents a 35.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders purchased 9,000 shares of company stock worth $156,800 and sold 1,665,542 shares worth $36,321,576. Insiders own 9.46% of the company’s stock.

Institutional Inflows and Outflows

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

About Dyne Therapeutics

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.