Piper Sandler Issues Pessimistic Forecast for Dyne Therapeutics (NASDAQ:DYN) Stock Price

Dyne Therapeutics (NASDAQ:DYN) had its target price lowered by Piper Sandler from $53.00 to $48.00 in a report released on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 252.68% from the stock’s previous close.

A number of other research firms have also weighed in on DYN. HC Wainwright lowered their price objective on Dyne Therapeutics from $55.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday. Chardan Capital restated a “buy” rating and issued a $50.00 target price on shares of Dyne Therapeutics in a research report on Friday, January 10th. Raymond James upgraded Dyne Therapeutics to a “strong-buy” rating in a research report on Thursday, December 12th. Royal Bank of Canada restated an “outperform” rating and issued a $45.00 target price on shares of Dyne Therapeutics in a research report on Tuesday, January 14th. Finally, Robert W. Baird began coverage on Dyne Therapeutics in a research report on Friday, December 13th. They issued an “outperform” rating and a $46.00 target price on the stock. One analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Dyne Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $48.64.

Dyne Therapeutics Stock Performance

NASDAQ DYN opened at $13.61 on Friday. The stock’s fifty day moving average is $16.98 and its two-hundred day moving average is $27.61. The firm has a market capitalization of $1.39 billion, a P/E ratio of -3.82 and a beta of 1.11. Dyne Therapeutics has a fifty-two week low of $12.87 and a fifty-two week high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.88) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.04. As a group, sell-side analysts forecast that Dyne Therapeutics will post -3.44 EPS for the current year.

Insider Activity at Dyne Therapeutics

In related news, insider Oxana Beskrovnaya sold 2,598 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $13.95, for a total transaction of $36,242.10. Following the completion of the transaction, the insider now directly owns 199,087 shares of the company’s stock, valued at $2,777,263.65. The trade was a 1.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Richard William Scalzo sold 1,455 shares of the business’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $28.12, for a total value of $40,914.60. Following the transaction, the senior vice president now directly owns 127,078 shares of the company’s stock, valued at $3,573,433.36. The trade was a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,387 shares of company stock worth $142,789. 20.77% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of DYN. Creative Planning grew its stake in Dyne Therapeutics by 41.5% during the 3rd quarter. Creative Planning now owns 10,605 shares of the company’s stock worth $381,000 after purchasing an additional 3,111 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Dyne Therapeutics by 24.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,631 shares of the company’s stock worth $123,000 after acquiring an additional 709 shares in the last quarter. US Bancorp DE boosted its position in shares of Dyne Therapeutics by 776.9% during the 3rd quarter. US Bancorp DE now owns 1,368 shares of the company’s stock worth $49,000 after acquiring an additional 1,212 shares in the last quarter. Arcadia Investment Management Corp MI boosted its position in shares of Dyne Therapeutics by 9.8% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 38,614 shares of the company’s stock worth $1,387,000 after acquiring an additional 3,439 shares in the last quarter. Finally, Hanseatic Management Services Inc. acquired a new position in shares of Dyne Therapeutics during the 3rd quarter worth about $258,000. 96.68% of the stock is owned by institutional investors and hedge funds.

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.