Dyne Therapeutics (NASDAQ:DYN) Coverage Initiated at Morgan Stanley

Morgan Stanley assumed coverage on shares of Dyne Therapeutics (NASDAQ:DYN) in a research note issued on Tuesday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $40.00 price target on the stock. Morgan Stanley’s price target would suggest a potential upside of 54.86% from the stock’s current price.

Several other brokerages have also recently weighed in on DYN. HC Wainwright reissued a “buy” rating and set a $36.00 price objective on shares of Dyne Therapeutics in a research note on Wednesday, March 6th. Oppenheimer reaffirmed an “outperform” rating and set a $47.00 target price on shares of Dyne Therapeutics in a research note on Tuesday, March 26th. Stifel Nicolaus upped their target price on Dyne Therapeutics from $35.00 to $41.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Chardan Capital upped their target price on Dyne Therapeutics from $20.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, March 8th. Finally, Piper Sandler upped their target price on Dyne Therapeutics from $27.00 to $29.00 and gave the company an “overweight” rating in a research note on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Dyne Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $37.75.

Dyne Therapeutics Price Performance

Shares of NASDAQ DYN opened at $25.83 on Tuesday. The business’s 50 day moving average is $26.21 and its two-hundred day moving average is $18.18. Dyne Therapeutics has a 1-year low of $6.40 and a 1-year high of $30.27. The stock has a market capitalization of $2.23 billion, a P/E ratio of -6.56 and a beta of 0.95.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($1.09) earnings per share for the quarter, missing the consensus estimate of ($0.92) by ($0.17). As a group, equities research analysts anticipate that Dyne Therapeutics will post -3.25 earnings per share for the current fiscal year.

Insider Activity at Dyne Therapeutics

In related news, Director Jason P. Rhodes sold 177,906 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $23.89, for a total value of $4,250,174.34. Following the completion of the sale, the director now owns 7,148,211 shares in the company, valued at $170,770,760.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Dyne Therapeutics news, Director Jason P. Rhodes sold 177,906 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $23.89, for a total transaction of $4,250,174.34. Following the completion of the sale, the director now owns 7,148,211 shares in the company, valued at $170,770,760.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Wildon Farwell sold 5,493 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $25.07, for a total value of $137,709.51. Following the sale, the insider now owns 163,503 shares of the company’s stock, valued at approximately $4,099,020.21. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,875,432 shares of company stock worth $44,368,530. Company insiders own 20.77% of the company’s stock.

Institutional Trading of Dyne Therapeutics

Hedge funds have recently bought and sold shares of the stock. Wetzel Investment Advisors Inc. purchased a new stake in shares of Dyne Therapeutics during the 1st quarter valued at $28,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Dyne Therapeutics by 58.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,379 shares of the company’s stock valued at $75,000 after purchasing an additional 3,092 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Dyne Therapeutics by 95.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,310 shares of the company’s stock valued at $83,000 after purchasing an additional 4,552 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Dyne Therapeutics by 355.6% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,099 shares of the company’s stock valued at $94,000 after purchasing an additional 5,541 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Dyne Therapeutics by 10.7% during the 3rd quarter. Principal Financial Group Inc. now owns 15,229 shares of the company’s stock valued at $136,000 after purchasing an additional 1,476 shares during the last quarter. Hedge funds and other institutional investors own 96.68% of the company’s stock.

About Dyne Therapeutics

Dyne Therapeutics, Inc, a clinical-stage muscle disease company, operates as a biotechnology company that focuses on advancing therapeutics for genetically driven muscle diseases in the United States. It is developing a portfolio of muscle disease therapeutics, including programs in myotonic dystrophy type 1; duchenne muscular dystrophy; and facioscapulohumeral dystrophy, as well as rare skeletal muscle, and cardiac and metabolic muscle diseases using its FORCE platform that delivers disease-modifying therapeutics.