Dyne Therapeutics (NASDAQ:DYN) Earns Buy Rating from HC Wainwright

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “buy” rating restated by stock analysts at HC Wainwright in a note issued to investors on Wednesday,Benzinga reports. They currently have a $55.00 target price on the stock. HC Wainwright’s price objective points to a potential upside of 88.74% from the company’s current price.

Other equities research analysts have also issued reports about the company. StockNews.com lowered Dyne Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Guggenheim boosted their target price on Dyne Therapeutics from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. lowered Dyne Therapeutics from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $43.00 to $35.00 in a report on Thursday, October 24th. Piper Sandler restated an “overweight” rating and issued a $53.00 target price on shares of Dyne Therapeutics in a report on Monday, September 23rd. Finally, Morgan Stanley boosted their target price on Dyne Therapeutics from $48.00 to $52.00 and gave the stock an “overweight” rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Dyne Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $51.40.

Dyne Therapeutics Stock Down 3.9 %

Shares of Dyne Therapeutics stock traded down $1.17 during midday trading on Wednesday, reaching $29.14. 76,805 shares of the company’s stock traded hands, compared to its average volume of 1,488,889. Dyne Therapeutics has a 52 week low of $9.76 and a 52 week high of $47.45. The company’s 50 day simple moving average is $32.58 and its 200 day simple moving average is $35.08.

Dyne Therapeutics (NASDAQ:DYN) last posted its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.25). Sell-side analysts forecast that Dyne Therapeutics will post -3.02 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John Cox acquired 32,000 shares of the stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average cost of $33.04 per share, for a total transaction of $1,057,280.00. Following the completion of the transaction, the chief executive officer now owns 8,000 shares in the company, valued at approximately $264,320. This trade represents a -133.33 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Susanna Gatti High sold 8,976 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $34.41, for a total value of $308,864.16. Following the sale, the chief operating officer now owns 131,636 shares in the company, valued at approximately $4,529,594.76. This represents a 6.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 158,975 shares of company stock valued at $5,693,789 in the last three months. Company insiders own 20.77% of the company’s stock.

Institutional Trading of Dyne Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its position in Dyne Therapeutics by 24.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 28,617 shares of the company’s stock valued at $812,000 after acquiring an additional 5,696 shares during the period. Oppenheimer & Co. Inc. bought a new stake in Dyne Therapeutics in the first quarter valued at $810,000. Swiss National Bank grew its position in Dyne Therapeutics by 41.5% in the first quarter. Swiss National Bank now owns 85,200 shares of the company’s stock valued at $2,419,000 after acquiring an additional 25,000 shares during the period. Sei Investments Co. bought a new stake in Dyne Therapeutics in the first quarter valued at $693,000. Finally, Russell Investments Group Ltd. grew its position in Dyne Therapeutics by 1.4% in the first quarter. Russell Investments Group Ltd. now owns 101,943 shares of the company’s stock valued at $2,894,000 after acquiring an additional 1,447 shares during the period. 96.68% of the stock is currently owned by 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.