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

Chardan Capital restated their buy rating on shares of Dyne Therapeutics (NASDAQ:DYN) in a report issued on Wednesday morning,Benzinga reports. They currently have a $50.00 price objective on the stock.

A number of other brokerages have also recently issued reports on DYN. StockNews.com cut shares of Dyne Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Oppenheimer reaffirmed an “outperform” rating and issued a $55.00 price objective on shares of Dyne Therapeutics in a research note on Tuesday, September 3rd. Piper Sandler reiterated an “overweight” rating and set a $53.00 target price on shares of Dyne Therapeutics in a research report on Monday, September 23rd. JPMorgan Chase & Co. cut Dyne Therapeutics from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $43.00 to $35.00 in a research report on Thursday, October 24th. Finally, Stifel Nicolaus increased their price objective on shares of Dyne Therapeutics from $41.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, August 16th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $51.40.

Dyne Therapeutics Price Performance

Dyne Therapeutics stock opened at $28.39 on Wednesday. The stock’s 50 day moving average price is $32.48 and its 200 day moving average price is $35.10. Dyne Therapeutics has a 1-year low of $9.76 and a 1-year high of $47.45. The company has a market cap of $2.89 billion, a PE ratio of -7.97 and a beta of 1.10.

Dyne Therapeutics (NASDAQ:DYN) last issued its earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.25). On average, equities research analysts anticipate that Dyne Therapeutics will post -3.02 EPS for the current fiscal year.

Insider Buying and Selling at Dyne Therapeutics

In other Dyne Therapeutics news, CEO John Cox bought 32,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was acquired at an average cost of $33.04 per share, with a total value of $1,057,280.00. Following the completion of the purchase, the chief executive officer now directly owns 8,000 shares in the company, valued at approximately $264,320. This trade represents a -133.33 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, Director Dirk Kersten sold 79,411 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $36.45, for a total value of $2,894,530.95. Following the sale, the director now directly owns 234,127 shares of the company’s stock, valued at approximately $8,533,929.15. This represents a 25.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 158,975 shares of company stock valued at $5,693,789. Company insiders own 20.77% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC raised its holdings in Dyne Therapeutics by 4.3% during the 2nd quarter. AQR Capital Management LLC now owns 8,495 shares of the company’s stock worth $300,000 after buying an additional 352 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Dyne Therapeutics by 904.1% in the second quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock worth $26,000 after acquiring an additional 669 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Dyne Therapeutics by 24.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,631 shares of the company’s stock valued at $123,000 after acquiring an additional 709 shares during the period. KBC Group NV lifted its position in shares of Dyne Therapeutics by 53.4% in the 3rd quarter. KBC Group NV now owns 2,157 shares of the company’s stock valued at $77,000 after acquiring an additional 751 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in Dyne Therapeutics by 39.9% in the 2nd quarter. Amalgamated Bank now owns 2,792 shares of the company’s stock worth $99,000 after purchasing an additional 796 shares during the period. Institutional investors and hedge funds 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.