Piper Sandler Reaffirms Overweight Rating for Dyne Therapeutics (NASDAQ:DYN)

Piper Sandler reiterated their overweight rating on shares of Dyne Therapeutics (NASDAQ:DYN) in a research note published on Monday, Benzinga reports. Piper Sandler currently has a $53.00 price target on the stock.

Several other equities research analysts also recently weighed in on DYN. HC Wainwright restated a buy rating and issued a $55.00 target price on shares of Dyne Therapeutics in a research note on Wednesday, September 4th. Stifel Nicolaus raised their price objective on Dyne Therapeutics from $41.00 to $66.00 and gave the stock a buy rating in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their target price on Dyne Therapeutics from $39.00 to $43.00 and gave the company an overweight rating in a research report on Tuesday, July 9th. Morgan Stanley raised their price target on Dyne Therapeutics from $48.00 to $52.00 and gave the stock an overweight rating in a report on Wednesday, August 14th. Finally, StockNews.com downgraded shares of Dyne Therapeutics from a hold rating to a sell rating in a report on Monday, September 16th. One analyst has rated the stock with a sell rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Dyne Therapeutics currently has an average rating of Moderate Buy and a consensus price target of $51.40.

Dyne Therapeutics Trading Down 5.4 %

Shares of NASDAQ:DYN opened at $34.63 on Monday. The company has a market capitalization of $3.03 billion, a PE ratio of -8.72 and a beta of 1.07. Dyne Therapeutics has a 12-month low of $6.40 and a 12-month high of $47.45. The business’s fifty day simple moving average is $40.89 and its 200-day simple moving average is $33.71.

Dyne Therapeutics (NASDAQ:DYN) last posted its earnings results on Monday, August 12th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.72) by $0.02. Research analysts predict that Dyne Therapeutics will post -2.96 EPS for the current year.

Insider Activity

In other Dyne Therapeutics news, CEO John Cox bought 32,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 8,000 shares of the company’s stock, valued at approximately $264,320. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, COO Susanna Gatti High sold 8,976 shares of Dyne Therapeutics stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $34.41, for a total transaction of $308,864.16. Following the completion of the transaction, the chief operating officer now directly owns 131,636 shares of the company’s stock, valued at approximately $4,529,594.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO John Cox purchased 32,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were purchased at an average cost of $33.04 per share, for a total transaction of $1,057,280.00. Following the completion of the acquisition, the chief executive officer now directly owns 8,000 shares of the company’s stock, valued at approximately $264,320. The disclosure for this purchase can be found here. Insiders have sold 12,705 shares of company stock valued at $437,701 in the last ninety days. Insiders own 20.77% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Concurrent Investment Advisors LLC purchased a new position in shares of Dyne Therapeutics during the 1st quarter valued at approximately $573,000. Sei Investments Co. purchased a new stake in shares of Dyne Therapeutics during the first quarter worth about $693,000. Rafferty Asset Management LLC increased its stake in shares of Dyne Therapeutics by 17.7% during the fourth quarter. Rafferty Asset Management LLC now owns 164,041 shares of the company’s stock worth $2,182,000 after purchasing an additional 24,632 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of Dyne Therapeutics during the 1st quarter worth about $810,000. Finally, Commodore Capital LP purchased a new position in Dyne Therapeutics in the 4th quarter valued at about $11,970,000. Hedge funds and other institutional investors own 96.68% of the company’s stock.

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.