Dyne Therapeutics, Inc. (NASDAQ:DYN) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) have received an average recommendation of “Buy” from the fifteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation, twelve have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $47.46.

DYN has been the topic of a number of research analyst reports. HC Wainwright restated a “buy” rating and issued a $46.00 target price on shares of Dyne Therapeutics in a research note on Monday, March 17th. Chardan Capital reaffirmed a “buy” rating and issued a $50.00 target price on shares of Dyne Therapeutics in a research note on Monday, March 17th. Royal Bank of Canada reissued an “outperform” rating and issued a $45.00 price target on shares of Dyne Therapeutics in a research note on Tuesday, January 14th. Piper Sandler lowered their price objective on shares of Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Finally, Scotiabank initiated coverage on shares of Dyne Therapeutics in a report on Friday, March 7th. They set a “sector outperform” rating and a $50.00 price objective for the company.

Dyne Therapeutics Trading Up 5.1 %

DYN stock opened at $7.85 on Wednesday. The firm has a 50 day moving average of $11.52 and a 200-day moving average of $20.97. The firm has a market capitalization of $888.00 million, a P/E ratio of -2.21 and a beta of 1.21. Dyne Therapeutics has a 12 month low of $6.36 and a 12 month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings results on Tuesday, March 4th. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.04. Sell-side analysts predict that Dyne Therapeutics will post -3.44 EPS for the current year.

Insider Activity at Dyne Therapeutics

In other Dyne Therapeutics news, insider Oxana Beskrovnaya sold 2,598 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total transaction of $36,242.10. Following the completion of the sale, the insider now owns 199,087 shares of the company’s stock, valued at $2,777,263.65. This represents a 1.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 6,237 shares of company stock worth $77,760 in the last ninety days. 20.77% of the stock is owned by company insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of DYN. Point72 DIFC Ltd purchased a new position in Dyne Therapeutics during the 3rd quarter valued at about $36,000. GF Fund Management CO. LTD. purchased a new position in shares of Dyne Therapeutics during the fourth quarter valued at approximately $50,000. GAMMA Investing LLC increased its stake in shares of Dyne Therapeutics by 837.5% during the first quarter. GAMMA Investing LLC now owns 2,625 shares of the company’s stock valued at $251,000 after buying an additional 2,345 shares during the period. KBC Group NV raised its holdings in shares of Dyne Therapeutics by 45.3% during the fourth quarter. KBC Group NV now owns 3,135 shares of the company’s stock valued at $74,000 after acquiring an additional 978 shares in the last quarter. Finally, Summit Investment Advisors Inc. lifted its stake in Dyne Therapeutics by 9.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,627 shares of the company’s stock worth $203,000 after acquiring an additional 721 shares during the period. 96.68% of the stock is owned by institutional investors.

Dyne Therapeutics Company Profile

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.