Dyne Therapeutics (NASDAQ:DYN) Trading Up 3.5% After Analyst Upgrade

Dyne Therapeutics, Inc. (NASDAQ:DYN) shot up 3.5% during trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $39.00 to $43.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Dyne Therapeutics traded as high as $34.80 and last traded at $34.80. 102,404 shares changed hands during trading, a decline of 94% from the average session volume of 1,699,205 shares. The stock had previously closed at $33.61.

Several other equities analysts have also weighed in on DYN. Morgan Stanley assumed coverage on Dyne Therapeutics in a research note on Tuesday, April 30th. They issued an “overweight” rating and a $40.00 price objective on the stock. HC Wainwright increased their price objective on shares of Dyne Therapeutics from $36.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, May 20th. Jefferies Financial Group raised their target price on shares of Dyne Therapeutics from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, May 20th. Oppenheimer reaffirmed an “outperform” rating and set a $47.00 price target on shares of Dyne Therapeutics in a research report on Monday, May 6th. Finally, Chardan Capital raised their price objective on Dyne Therapeutics from $31.00 to $42.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.11.

Insider Activity at Dyne Therapeutics

In other Dyne Therapeutics news, COO Susanna Gatti High sold 2,738 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $28.27, for a total value of $77,403.26. Following the transaction, the chief operating officer now directly owns 154,062 shares of the company’s stock, valued at approximately $4,355,332.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Susanna Gatti High sold 2,738 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $28.27, for a total value of $77,403.26. Following the sale, the chief operating officer now owns 154,062 shares in the company, valued at approximately $4,355,332.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Oxana Beskrovnaya sold 30,426 shares of Dyne Therapeutics stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $32.96, for a total value of $1,002,840.96. Following the completion of the transaction, the insider now owns 149,647 shares of the company’s stock, valued at $4,932,365.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 202,133 shares of company stock valued at $6,500,387. Insiders own 20.77% of the company’s stock.

Institutional Investors Weigh In On Dyne Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in DYN. DekaBank Deutsche Girozentrale increased its stake in Dyne Therapeutics by 50.0% during the first quarter. DekaBank Deutsche Girozentrale now owns 60,000 shares of the company’s stock valued at $1,710,000 after purchasing an additional 20,000 shares during the last quarter. RA Capital Management L.P. bought a new stake in shares of Dyne Therapeutics during the 1st quarter valued at about $140,666,000. Artal Group S.A. grew its position in shares of Dyne Therapeutics by 24.6% during the 1st quarter. Artal Group S.A. now owns 1,517,960 shares of the company’s stock valued at $43,095,000 after buying an additional 300,000 shares during the last quarter. California State Teachers Retirement System raised its stake in Dyne Therapeutics by 29.9% during the first quarter. California State Teachers Retirement System now owns 44,784 shares of the company’s stock worth $1,271,000 after acquiring an additional 10,317 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in Dyne Therapeutics by 23,512.0% in the first quarter. Janus Henderson Group PLC now owns 2,675,240 shares of the company’s stock worth $75,915,000 after acquiring an additional 2,663,910 shares during the last quarter. 96.68% of the stock is owned by institutional investors and hedge funds.

Dyne Therapeutics Stock Up 6.3 %

The stock has a 50 day simple moving average of $31.68 and a 200 day simple moving average of $25.91. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of -9.96 and a beta of 1.07.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.81) EPS for the quarter, hitting analysts’ consensus estimates of ($0.81). As a group, analysts forecast that Dyne Therapeutics, Inc. will post -3 EPS for the current year.

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.