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

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “buy” rating restated by investment analysts at Chardan Capital in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $38.00 price target on the stock. Chardan Capital’s target price suggests a potential upside of 129.50% from the company’s current price.

A number of other research firms have also recently weighed in on DYN. TD Cowen initiated coverage on shares of Dyne Therapeutics in a report on Friday, June 26th. They issued a “buy” rating on the stock. Raymond James Financial restated a “strong-buy” rating and issued a $37.00 price target on shares of Dyne Therapeutics in a report on Tuesday, September 8th. Jefferies Financial Group reiterated a “buy” rating and issued a $50.00 target price on shares of Dyne Therapeutics in a research note on Wednesday. Morgan Stanley lowered their target price on shares of Dyne Therapeutics from $45.00 to $36.00 and set an “overweight” rating for the company in a research note on Wednesday, September 9th. Finally, Royal Bank Of Canada lowered their target price on shares of Dyne Therapeutics from $35.00 to $30.00 and set an “outperform” rating for the company in a research note on Wednesday, September 9th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Dyne Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $33.21.

Dyne Therapeutics Stock Up 2.1%

NASDAQ DYN traded up $0.35 during trading on Wednesday, reaching $16.56. 948,106 shares of the company’s stock traded hands, compared to its average volume of 2,225,580. The company has a debt-to-equity ratio of 0.28, a current ratio of 12.02 and a quick ratio of 12.02. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of -4.95 and a beta of 1.08. The company’s 50 day simple moving average is $23.01 and its two-hundred day simple moving average is $20.61. Dyne Therapeutics has a 12-month low of $12.33 and a 12-month high of $27.31.

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

Insider Buying and Selling at Dyne Therapeutics

In other Dyne Therapeutics news, CEO John Cox sold 5,658 shares of Dyne Therapeutics stock in a transaction that occurred 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 directly owned 357,507 shares in the company, valued at approximately $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 accessible through the SEC website. 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 Dyne Therapeutics stock in a transaction that occurred on Friday, September 4th. The shares were sold at an average price of $24.35, for a total transaction of $91,190.75. Following the sale, the insider owned 163,854 shares of the company’s stock, valued at approximately $3,989,844.90. The trade was a 2.23% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 3,376,157 shares of company stock worth $83,290,469. Company insiders own 9.46% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

Several large investors have recently made changes to their positions in DYN. BlackRock Inc. acquired a new position in shares of Dyne Therapeutics in the 2nd quarter valued at $275,500,000. Jupiter Topco LLC acquired a new position in shares of Dyne Therapeutics in the 2nd quarter valued at $266,634,000. Perceptive Advisors LLC lifted its stake in shares of 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 purchasing an additional 2,938,500 shares during the period. Bank of America Corp DE acquired a new position in shares of Dyne Therapeutics in the 2nd quarter valued at $49,604,000. Finally, Palo Alto Investors LP acquired a new position in shares of Dyne Therapeutics in the 2nd quarter valued at $36,591,441. 96.68% of the stock is currently owned by institutional investors and hedge funds.

About Dyne Therapeutics

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.