Dyne Therapeutics (NASDAQ:DYN) Given Overweight Rating at Piper Sandler

Piper Sandler restated their overweight rating on shares of Dyne Therapeutics (NASDAQ:DYN) in a research note published on Monday morning, Benzinga reports. Piper Sandler currently has a $53.00 price target on the stock.

A number of other analysts have also recently weighed in on the stock. StockNews.com cut shares of Dyne Therapeutics from a hold rating to a sell rating in a research note on Monday, September 16th. Guggenheim increased their target price on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the stock a buy rating in a research note on Thursday, August 15th. Stifel Nicolaus upped their price objective on Dyne Therapeutics from $41.00 to $66.00 and gave the company a buy rating in a research note on Friday, August 16th. JPMorgan Chase & Co. lifted their target price on Dyne Therapeutics from $39.00 to $43.00 and gave the company an overweight rating in a research note on Tuesday, July 9th. Finally, Morgan Stanley boosted their target price on Dyne Therapeutics from $48.00 to $52.00 and gave the company an overweight rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Dyne Therapeutics has an average rating of Moderate Buy and an average price target of $51.40.

Dyne Therapeutics Stock Performance

Dyne Therapeutics stock opened at $34.88 on Monday. The company has a market capitalization of $3.05 billion, a P/E ratio of -8.79 and a beta of 1.07. Dyne Therapeutics has a fifty-two week low of $6.40 and a fifty-two week high of $47.45. The stock has a 50-day simple moving average of $40.55 and a 200-day simple moving average of $33.78.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings data on Monday, August 12th. The company reported ($0.70) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.02. As a group, analysts forecast that Dyne Therapeutics will post -2.96 earnings per share for the current year.

Insider Buying and Selling at Dyne Therapeutics

In related news, Director Dirk Kersten sold 40,831 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $35.32, for a total transaction of $1,442,150.92. Following the sale, the director now owns 193,296 shares of the company’s stock, valued at $6,827,214.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Dirk Kersten sold 40,831 shares of Dyne Therapeutics stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $35.32, for a total transaction of $1,442,150.92. Following the completion of the transaction, the director now directly owns 193,296 shares of the company’s stock, valued at $6,827,214.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Richard William Scalzo sold 1,390 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $34.55, for a total value of $48,024.50. Following the completion of the sale, the senior vice president now directly owns 98,568 shares in the company, valued at approximately $3,405,524.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 132,947 shares of company stock valued at $4,774,383. 20.77% of the stock is owned by company insiders.

Institutional Trading of Dyne Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of DYN. RA Capital Management L.P. purchased a new stake in shares of Dyne Therapeutics in the first quarter valued at $140,666,000. Vanguard Group Inc. lifted its holdings in Dyne Therapeutics by 47.7% in the 1st quarter. Vanguard Group Inc. now owns 3,440,270 shares of the company’s stock valued at $97,669,000 after purchasing an additional 1,110,629 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of Dyne Therapeutics by 23,512.0% during the 1st quarter. Janus Henderson Group PLC now owns 2,675,240 shares of the company’s stock worth $75,915,000 after purchasing an additional 2,663,910 shares during the last quarter. Artal Group S.A. grew its holdings in shares of Dyne Therapeutics by 24.6% during the first quarter. Artal Group S.A. now owns 1,517,960 shares of the company’s stock worth $43,095,000 after buying an additional 300,000 shares in the last quarter. Finally, Federated Hermes Inc. raised its position in shares of Dyne Therapeutics by 10.4% in the second quarter. Federated Hermes Inc. now owns 1,215,112 shares of the company’s stock valued at $42,881,000 after buying an additional 114,888 shares during the last quarter. Hedge funds and other 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.