Chardan Capital Reiterates “Buy” Rating for Dyne Therapeutics (NASDAQ:DYN)

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “buy” rating restated by analysts at Chardan Capital in a report released on Monday,Benzinga reports. They presently have a $50.00 price objective on the stock. Chardan Capital’s target price points to a potential upside of 309.10% from the stock’s current price.

Several other research analysts also recently commented on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 target price on shares of Dyne Therapeutics in a research note on Tuesday, January 14th. HC Wainwright reduced their price target on Dyne Therapeutics from $55.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Robert W. Baird assumed coverage on Dyne Therapeutics in a research note on Friday, December 13th. They issued an “outperform” rating and a $46.00 price target for the company. BMO Capital Markets assumed coverage on Dyne Therapeutics in a report on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 price objective for the company. Finally, Baird R W raised Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $48.85.

Dyne Therapeutics Price Performance

Shares of NASDAQ DYN traded up $0.17 during trading hours on Monday, reaching $12.22. The stock had a trading volume of 489,033 shares, compared to its average volume of 1,327,855. The business’s fifty day moving average is $14.58 and its two-hundred day moving average is $25.13. Dyne Therapeutics has a twelve month low of $11.18 and a twelve month high of $47.45. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -3.42 and a beta of 1.11.

Dyne Therapeutics (NASDAQ:DYN) last released its earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.04. Sell-side analysts forecast that Dyne Therapeutics will post -3.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Oxana Beskrovnaya sold 2,598 shares of the firm’s stock in a transaction dated 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 owns 199,087 shares in the company, valued at $2,777,263.65. This trade represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last quarter, insiders sold 6,237 shares of company stock valued at $77,760. 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 stock. Bank of New York Mellon Corp grew its holdings in Dyne Therapeutics by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 234,798 shares of the company’s stock worth $5,532,000 after purchasing an additional 698 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Dyne Therapeutics by 9.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,627 shares of the company’s stock valued at $203,000 after buying an additional 721 shares during the last quarter. KBC Group NV grew its holdings in shares of Dyne Therapeutics by 53.4% during the third quarter. KBC Group NV now owns 2,157 shares of the company’s stock valued at $77,000 after buying an additional 751 shares during the last quarter. Quantbot Technologies LP acquired a new position in Dyne Therapeutics during the third quarter valued at $34,000. Finally, Virtue Capital Management LLC lifted its position in Dyne Therapeutics by 4.4% during the third quarter. Virtue Capital Management LLC now owns 23,208 shares of the company’s stock valued at $834,000 after purchasing an additional 981 shares during the period. Institutional investors own 96.68% of the company’s stock.

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.