Dyne Therapeutics (NASDAQ:DYN) Receives Buy Rating from Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Dyne Therapeutics (NASDAQ:DYN) in a research report released on Wednesday,Benzinga reports. They currently have a $50.00 target price on the stock.

Other analysts have also recently issued research reports about the stock. HC Wainwright reiterated a “buy” rating and set a $55.00 target price on shares of Dyne Therapeutics in a research report on Wednesday. Morgan Stanley boosted their price target on shares of Dyne Therapeutics from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. StockNews.com lowered shares of Dyne Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Piper Sandler reissued an “overweight” rating and issued a $53.00 price target on shares of Dyne Therapeutics in a report on Monday, September 23rd. Finally, JPMorgan Chase & Co. lowered shares of Dyne Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $43.00 to $35.00 in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $51.40.

Dyne Therapeutics Price Performance

DYN stock opened at $28.39 on Wednesday. The company has a 50 day moving average price of $32.48 and a 200 day moving average price of $35.17. Dyne Therapeutics has a fifty-two week low of $9.76 and a fifty-two week high of $47.45. The stock has a market capitalization of $2.89 billion, a PE ratio of -7.97 and a beta of 1.10.

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

Insider Buying and Selling

In other Dyne Therapeutics news, CEO John Cox acquired 32,000 shares of Dyne Therapeutics stock in a transaction dated Wednesday, September 4th. The stock was bought at an average cost of $33.04 per share, for a total transaction of $1,057,280.00. Following the purchase, the chief executive officer now directly owns 8,000 shares in the company, valued at approximately $264,320. This represents a -133.33 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Richard William Scalzo sold 1,390 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $34.55, for a total transaction of $48,024.50. Following the transaction, the senior vice president now owns 98,568 shares of the company’s stock, valued at approximately $3,405,524.40. This represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 158,975 shares of company stock valued at $5,693,789. Company insiders own 20.77% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

A number of large investors have recently modified their holdings of the business. 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 buying an additional 84,760 shares during the last quarter. Barclays PLC raised its holdings in shares of Dyne Therapeutics by 162.2% in the 3rd quarter. Barclays PLC now owns 207,309 shares of the company’s stock valued at $7,446,000 after purchasing an additional 128,246 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Dyne Therapeutics in the 3rd quarter valued at about $1,067,000. XTX Topco Ltd bought a new stake in shares of Dyne Therapeutics in the 3rd quarter valued at about $573,000. Finally, Sphera Funds Management LTD. bought a new stake in shares of Dyne Therapeutics in the 3rd quarter valued at about $2,030,000. 96.68% of the stock is currently owned by institutional investors and hedge funds.

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.