JPMorgan Chase & Co. Has Lowered Expectations for Dyne Therapeutics (NASDAQ:DYN) Stock Price

Dyne Therapeutics (NASDAQ:DYN) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $18.00 to $17.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 39.57% from the stock’s previous close.

DYN has been the subject of a number of other reports. Baird R W upgraded Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. Robert W. Baird started coverage on shares of Dyne Therapeutics in a research note on Friday, December 13th. They issued an “outperform” rating and a $46.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Dyne Therapeutics in a report on Tuesday, January 14th. BMO Capital Markets began coverage on shares of Dyne Therapeutics in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 target price on the stock. Finally, Raymond James raised Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.46.

Dyne Therapeutics Stock Down 0.7 %

NASDAQ DYN traded down $0.08 during midday trading on Friday, hitting $12.18. The company had a trading volume of 533,536 shares, compared to its average volume of 1,335,016. The firm has a fifty day simple moving average of $13.68 and a two-hundred day simple moving average of $24.49. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -3.42 and a beta of 1.11. Dyne Therapeutics has a fifty-two week low of $11.18 and a fifty-two week high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last released its earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.04. As a group, equities analysts predict that Dyne Therapeutics will post -3.44 earnings per share for the current year.

Insider Transactions at Dyne Therapeutics

In other news, insider Oxana Beskrovnaya sold 2,598 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total transaction of $36,242.10. Following the transaction, the insider now directly owns 199,087 shares in the company, valued at approximately $2,777,263.65. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 6,237 shares of company stock worth $77,760. Insiders own 20.77% of the company’s stock.

Institutional Trading of Dyne Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of DYN. Jennison Associates LLC boosted its position in Dyne Therapeutics by 1.5% in the 3rd quarter. Jennison Associates LLC now owns 1,346,952 shares of the company’s stock valued at $48,383,000 after buying an additional 19,730 shares during the last quarter. abrdn plc acquired a new position in shares of Dyne Therapeutics during the fourth quarter valued at $608,000. RA Capital Management L.P. boosted its holdings in Dyne Therapeutics by 5.5% in the third quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company’s stock valued at $229,211,000 after acquiring an additional 331,940 shares during the last quarter. Geode Capital Management LLC increased its position in Dyne Therapeutics by 4.8% in the third quarter. Geode Capital Management LLC now owns 1,859,413 shares of the company’s stock worth $66,802,000 after purchasing an additional 84,760 shares during the period. Finally, State Street Corp raised its holdings in Dyne Therapeutics by 13.8% during the 3rd quarter. State Street Corp now owns 3,641,859 shares of the company’s stock worth $130,816,000 after purchasing an additional 440,890 shares during the last quarter. Institutional investors and hedge funds own 96.68% of the company’s stock.

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.