Brokerages Set Dyne Therapeutics, Inc. (NASDAQ:DYN) Target Price at $50.60

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) have earned an average rating of “Buy” from the ten ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $50.60.

Several brokerages have weighed in on DYN. Stifel Nicolaus lifted their price objective on Dyne Therapeutics from $41.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Guggenheim lifted their price objective on shares of Dyne Therapeutics from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, August 15th. Piper Sandler reiterated an “overweight” rating and set a $53.00 target price on shares of Dyne Therapeutics in a report on Monday, September 23rd. Oppenheimer reaffirmed an “outperform” rating and set a $55.00 price objective on shares of Dyne Therapeutics in a research report on Tuesday, September 3rd. Finally, StockNews.com lowered Dyne Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, September 16th.

Dyne Therapeutics Stock Performance

Dyne Therapeutics stock opened at $29.33 on Friday. The stock has a market capitalization of $2.94 billion, a P/E ratio of -8.17 and a beta of 1.10. Dyne Therapeutics has a 1 year low of $8.05 and a 1 year high of $47.45. The company’s fifty day moving average price is $32.63 and its 200 day moving average price is $35.12.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings results on Monday, August 12th. The company reported ($0.70) earnings per share for the quarter, topping the consensus estimate of ($0.72) by $0.02. Sell-side analysts predict that Dyne Therapeutics will post -2.99 EPS for the current year.

Insiders Place Their Bets

In other news, CEO John Cox purchased 32,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was acquired at an average price of $33.04 per share, with a total value of $1,057,280.00. Following the purchase, the chief executive officer now directly owns 8,000 shares of the company’s stock, valued at $264,320. This represents a -100.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Susanna Gatti High sold 8,976 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $34.41, for a total value 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 $4,529,594.76. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, 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 price 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. This represents a -100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 158,975 shares of company stock worth $5,693,789. Corporate insiders own 20.77% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

Several large investors have recently added to or reduced their stakes in DYN. Nisa Investment Advisors LLC lifted its stake in shares of Dyne Therapeutics by 904.1% in the 2nd quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock valued at $26,000 after purchasing an additional 669 shares in the last quarter. US Bancorp DE lifted its position in Dyne Therapeutics by 776.9% during the third quarter. US Bancorp DE now owns 1,368 shares of the company’s stock valued at $49,000 after buying an additional 1,212 shares in the last quarter. Values First Advisors Inc. purchased a new stake in Dyne Therapeutics during the third quarter worth approximately $62,000. KBC Group NV increased its position in shares of Dyne Therapeutics by 53.4% in the third quarter. KBC Group NV now owns 2,157 shares of the company’s stock worth $77,000 after acquiring an additional 751 shares in the last quarter. Finally, Amalgamated Bank increased its position in shares of Dyne Therapeutics by 39.9% in the second quarter. Amalgamated Bank now owns 2,792 shares of the company’s stock worth $99,000 after acquiring an additional 796 shares in the last quarter. 96.68% of the stock is currently owned by hedge funds and other 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.