Dyne Therapeutics (NASDAQ:DYN) Given Overweight Rating at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Dyne Therapeutics (NASDAQ:DYN) in a report released on Monday morning, Benzinga reports. Piper Sandler currently has a $53.00 target price on the stock.

Other equities analysts have also issued research reports about the stock. Guggenheim increased their target price 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. JPMorgan Chase & Co. increased their target price on shares of Dyne Therapeutics from $39.00 to $43.00 and gave the company an overweight rating in a report on Tuesday, July 9th. Stifel Nicolaus increased their target price on shares of Dyne Therapeutics from $41.00 to $66.00 and gave the company a buy rating in a report on Friday, August 16th. StockNews.com lowered shares of Dyne Therapeutics from a hold rating to a sell rating in a report on Monday, September 16th. Finally, Morgan Stanley raised their price target on shares of Dyne Therapeutics from $48.00 to $52.00 and gave the stock an overweight rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $51.40.

Dyne Therapeutics Stock Performance

Dyne Therapeutics stock opened at $34.62 on Monday. The firm’s fifty day moving average price is $40.41 and its 200-day moving average price is $33.78. The stock has a market cap of $3.03 billion, a P/E ratio of -8.72 and a beta of 1.07. Dyne Therapeutics has a fifty-two week low of $6.40 and a fifty-two week high of $47.45.

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

Insider Transactions at Dyne Therapeutics

In other news, Director Dirk Kersten sold 40,831 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $35.32, for a total value of $1,442,150.92. Following the completion of the sale, the director now directly owns 193,296 shares of the company’s stock, valued at approximately $6,827,214.72. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Dyne Therapeutics news, CEO John Cox purchased 32,000 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was bought at an average cost of $33.04 per share, with a total value of $1,057,280.00. Following the transaction, the chief executive officer now directly owns 8,000 shares in the company, valued at approximately $264,320. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dirk Kersten sold 40,831 shares of Dyne Therapeutics stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $35.32, for a total transaction of $1,442,150.92. Following the transaction, the director now directly owns 193,296 shares of the company’s stock, valued at $6,827,214.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 132,947 shares of company stock valued at $4,774,383. Company insiders own 20.77% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Algert Global LLC raised its holdings in Dyne Therapeutics by 255.1% in the second quarter. Algert Global LLC now owns 97,370 shares of the company’s stock worth $3,436,000 after buying an additional 69,947 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Dyne Therapeutics by 96.2% during the second quarter. The Manufacturers Life Insurance Company now owns 126,244 shares of the company’s stock valued at $4,455,000 after buying an additional 61,902 shares during the period. AQR Capital Management LLC boosted its position in shares of Dyne Therapeutics by 4.3% in the second quarter. AQR Capital Management LLC now owns 8,495 shares of the company’s stock worth $300,000 after purchasing an additional 352 shares during the period. Affinity Asset Advisors LLC bought a new position in shares of Dyne Therapeutics in the second quarter worth approximately $3,529,000. Finally, First Light Asset Management LLC boosted its position in shares of Dyne Therapeutics by 261.0% in the second quarter. First Light Asset Management LLC now owns 382,433 shares of the company’s stock worth $13,496,000 after purchasing an additional 276,485 shares during the period. 96.68% of the stock is owned by hedge funds and other institutional investors.

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.