Dyne Therapeutics, Inc. (NASDAQ:DYN) Given Average Recommendation of “Buy” by Brokerages

Dyne Therapeutics, Inc. (NASDAQ:DYN) has been given an average rating of “Buy” by the thirteen research firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $49.91.

Several equities analysts have commented on DYN shares. Robert W. Baird started coverage on shares of Dyne Therapeutics in a research note on Friday, December 13th. They issued an “outperform” rating and a $46.00 price target for the company. Raymond James raised Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. Chardan Capital reissued a “buy” rating and set a $50.00 target price on shares of Dyne Therapeutics in a research note on Friday, January 10th. Baird R W raised Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. Finally, Guggenheim reissued a “buy” rating on shares of Dyne Therapeutics in a report on Friday, January 24th.

Insider Activity at Dyne Therapeutics

In other Dyne Therapeutics news, insider Oxana Beskrovnaya sold 2,334 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $28.12, for a total transaction of $65,632.08. Following the completion of the transaction, the insider now owns 201,685 shares in the company, valued at approximately $5,671,382.20. This represents a 1.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Richard William Scalzo sold 1,455 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $28.12, for a total transaction of $40,914.60. Following the transaction, the senior vice president now owns 127,078 shares of the company’s stock, valued at approximately $3,573,433.36. The trade was a 1.13 % decrease in their position. The disclosure for this sale can be found here. 20.77% of the stock is owned by insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. State of New Jersey Common Pension Fund D acquired a new position in shares of Dyne Therapeutics during the 3rd quarter worth $1,588,000. Jennison Associates LLC boosted its stake in shares of Dyne Therapeutics by 1.5% during the 3rd quarter. Jennison Associates LLC now owns 1,346,952 shares of the company’s stock worth $48,383,000 after purchasing an additional 19,730 shares during the last quarter. abrdn plc acquired a new stake in shares of Dyne Therapeutics during the 4th quarter worth about $608,000. RA Capital Management L.P. boosted its stake in shares of Dyne Therapeutics by 5.5% during the 3rd quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company’s stock worth $229,211,000 after purchasing an additional 331,940 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Dyne Therapeutics by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,859,413 shares of the company’s stock worth $66,802,000 after purchasing an additional 84,760 shares during the last quarter. 96.68% of the stock is owned by institutional investors and hedge funds.

Dyne Therapeutics Price Performance

Shares of Dyne Therapeutics stock opened at $13.59 on Tuesday. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -3.82 and a beta of 1.11. The business has a 50-day moving average of $17.88 and a 200 day moving average of $28.35. Dyne Therapeutics has a 12 month low of $13.07 and a 12 month high of $47.45.

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.