Royal Bank Of Canada Forecasts Strong Price Appreciation for Dyne Therapeutics (NASDAQ:DYN) Stock

Dyne Therapeutics (NASDAQ:DYN) had its price target upped by equities research analysts at Royal Bank Of Canada from $23.00 to $30.00 in a report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 63.40% from the company’s previous close.

A number of other analysts have also recently weighed in on DYN. Lifesci Capital raised Dyne Therapeutics to a “strong-buy” rating in a research report on Tuesday, October 14th. Chardan Capital cut their price target on Dyne Therapeutics from $50.00 to $38.00 and set a “buy” rating for the company in a research note on Tuesday, July 29th. Evercore ISI reaffirmed an “outperform” rating on shares of Dyne Therapeutics in a report on Friday, July 11th. Raymond James Financial upgraded shares of Dyne Therapeutics from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the company from $31.00 to $35.00 in a research report on Monday, August 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Dyne Therapeutics in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $34.53.

Dyne Therapeutics Price Performance

Shares of DYN opened at $18.36 on Thursday. Dyne Therapeutics has a fifty-two week low of $6.36 and a fifty-two week high of $35.68. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of -4.76 and a beta of 1.16. The firm has a 50-day simple moving average of $15.65 and a 200-day simple moving average of $12.75. The company has a debt-to-equity ratio of 0.17, a quick ratio of 16.83 and a current ratio of 16.83.

Insider Activity at Dyne Therapeutics

In other news, CEO John Cox sold 2,640 shares of the company’s stock in a transaction on Friday, September 5th. The shares were sold at an average price of $13.41, for a total transaction of $35,402.40. Following the transaction, the chief executive officer directly owned 199,539 shares of the company’s stock, valued at $2,675,817.99. This represents a 1.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 14.14% of the company’s stock.

Institutional Investors Weigh In On Dyne Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Dyne Therapeutics by 27.6% in the 3rd quarter. Vanguard Group Inc. now owns 9,760,414 shares of the company’s stock valued at $123,469,000 after acquiring an additional 2,109,257 shares during the last quarter. RA Capital Management L.P. lifted its holdings in shares of Dyne Therapeutics by 52.2% in the first quarter. RA Capital Management L.P. now owns 9,714,392 shares of the company’s stock valued at $101,613,000 after purchasing an additional 3,333,248 shares in the last quarter. Atlas Venture Life Science Advisors LLC lifted its holdings in shares of Dyne Therapeutics by 13.9% in the first quarter. Atlas Venture Life Science Advisors LLC now owns 9,130,465 shares of the company’s stock valued at $95,505,000 after purchasing an additional 1,111,111 shares in the last quarter. TCG Crossover Management LLC grew its position in shares of Dyne Therapeutics by 42.1% in the second quarter. TCG Crossover Management LLC now owns 3,766,660 shares of the company’s stock valued at $35,859,000 after purchasing an additional 1,116,510 shares during the last quarter. Finally, Braidwell LP grew its position in shares of Dyne Therapeutics by 431.6% in the first quarter. Braidwell LP now owns 3,621,344 shares of the company’s stock valued at $37,879,000 after purchasing an additional 2,940,162 shares during the last quarter. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

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.