Dyne Therapeutics (NASDAQ:DYN) Given New $52.00 Price Target at Morgan Stanley

Dyne Therapeutics (NASDAQ:DYN) had its price target upped by Morgan Stanley from $48.00 to $52.00 in a research report report published on Wednesday, Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on DYN. Oppenheimer reiterated an outperform rating and issued a $47.00 target price on shares of Dyne Therapeutics in a research report on Monday, May 6th. JPMorgan Chase & Co. increased their price target on Dyne Therapeutics from $39.00 to $43.00 and gave the company an overweight rating in a research note on Tuesday, July 9th. Chardan Capital upped their price objective on Dyne Therapeutics from $31.00 to $42.00 and gave the company a buy rating in a report on Tuesday, May 21st. HC Wainwright lifted their target price on Dyne Therapeutics from $48.00 to $55.00 and gave the stock a buy rating in a report on Tuesday, August 13th. Finally, Jefferies Financial Group upped their price target on shares of Dyne Therapeutics from $36.00 to $42.00 and gave the company a buy rating in a report on Monday, May 20th. One investment analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Buy and a consensus price target of $50.60.

Dyne Therapeutics Trading Down 0.8 %

NASDAQ DYN opened at $45.39 on Wednesday. The company has a 50-day moving average price of $38.90 and a two-hundred day moving average price of $30.84. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of -11.43 and a beta of 1.07. Dyne Therapeutics has a 52 week low of $6.40 and a 52 week high of $46.39.

Dyne Therapeutics (NASDAQ:DYN) last posted its earnings results on Monday, August 12th. The company reported ($0.70) EPS for the quarter, beating the consensus estimate of ($0.72) by $0.02. As a group, equities research analysts expect that Dyne Therapeutics will post -3 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Susanna Gatti High sold 29,787 shares of the company’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $35.01, for a total transaction of $1,042,842.87. Following the transaction, the chief operating officer now directly owns 148,792 shares of the company’s stock, valued at $5,209,207.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Dyne Therapeutics news, SVP Richard William Scalzo sold 1,590 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $30.23, for a total value of $48,065.70. Following the transaction, the senior vice president now directly owns 115,105 shares of the company’s stock, valued at approximately $3,479,624.15. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Susanna Gatti High sold 29,787 shares of Dyne Therapeutics stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $35.01, for a total value of $1,042,842.87. Following the sale, the chief operating officer now owns 148,792 shares of the company’s stock, valued at $5,209,207.92. The disclosure for this sale can be found here. Insiders sold 194,102 shares of company stock worth $6,273,351 over the last quarter. Corporate insiders own 20.77% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DYN. Federated Hermes Inc. bought a new position in shares of Dyne Therapeutics during the 4th quarter valued at $4,988,000. Concurrent Investment Advisors LLC bought a new stake in Dyne Therapeutics in the 1st quarter valued at $573,000. Sei Investments Co. bought a new position in shares of Dyne Therapeutics during the 1st quarter worth about $693,000. Rafferty Asset Management LLC raised its position in shares of Dyne Therapeutics by 17.7% during the fourth quarter. Rafferty Asset Management LLC now owns 164,041 shares of the company’s stock valued at $2,182,000 after buying an additional 24,632 shares during the last quarter. Finally, Commodore Capital LP bought a new stake in shares of Dyne Therapeutics in the fourth quarter valued at about $11,970,000. Institutional investors own 96.68% of the company’s stock.

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.