Dyne Therapeutics (NASDAQ:DYN) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Dyne Therapeutics (NASDAQ:DYN) in a report issued on Tuesday morning,Benzinga reports. The firm currently has a $45.00 price objective on the stock.

Other equities research analysts have also issued research reports about the company. StockNews.com lowered Dyne Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, September 16th. Raymond James raised Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. Chardan Capital reiterated a “buy” rating and set a $50.00 price objective on shares of Dyne Therapeutics in a research report on Friday, January 10th. Piper Sandler restated an “overweight” rating and set a $53.00 target price on shares of Dyne Therapeutics in a research report on Monday, September 23rd. Finally, Robert W. Baird assumed coverage on shares of Dyne Therapeutics in a research note on Friday, December 13th. They set an “outperform” rating and a $46.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Dyne Therapeutics has a consensus rating of “Moderate Buy” and an average target price of $49.91.

Dyne Therapeutics Trading Down 5.0 %

Shares of NASDAQ:DYN opened at $14.77 on Tuesday. The stock has a 50 day moving average of $25.92 and a 200 day moving average of $33.47. The company has a market cap of $1.50 billion, a PE ratio of -4.15 and a beta of 1.16. Dyne Therapeutics has a 12-month low of $14.48 and a 12-month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.25). Equities research analysts predict that Dyne Therapeutics will post -3.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Dyne Therapeutics news, Director Jason P. Rhodes sold 782 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $33.10, for a total transaction of $25,884.20. Following the transaction, the director now owns 15,962 shares in the company, valued at $528,342.20. The trade was a 4.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Carlo Incerti sold 16,500 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $28.73, for a total transaction of $474,045.00. The disclosure for this sale can be found here. Insiders have sold 21,071 shares of company stock valued at $606,476 over the last ninety days. 20.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Rhumbline Advisers boosted its position in Dyne Therapeutics by 23.7% in the 2nd quarter. Rhumbline Advisers now owns 121,595 shares of the company’s stock valued at $4,291,000 after buying an additional 23,266 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Dyne Therapeutics in the second quarter valued at approximately $676,000. Arizona State Retirement System grew its stake in Dyne Therapeutics by 26.9% in the second quarter. Arizona State Retirement System now owns 15,070 shares of the company’s stock worth $532,000 after purchasing an additional 3,199 shares in the last quarter. American Century Companies Inc. purchased a new position in Dyne Therapeutics during the 2nd quarter worth $228,000. Finally, Renaissance Technologies LLC bought a new stake in Dyne Therapeutics during the 2nd quarter valued at $4,447,000. 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.