HC Wainwright Reiterates Buy Rating for Dyne Therapeutics (NASDAQ:DYN)

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “buy” rating reiterated by research analysts at HC Wainwright in a research note issued on Wednesday,Benzinga reports. They currently have a $55.00 price objective on the stock. HC Wainwright’s target price suggests a potential upside of 83.09% from the company’s previous close.

Several other brokerages have also commented on DYN. JPMorgan Chase & Co. lowered Dyne Therapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $43.00 to $35.00 in a report on Thursday, October 24th. Morgan Stanley upped their target price on Dyne Therapeutics from $48.00 to $52.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 14th. Guggenheim upped their target price on Dyne Therapeutics from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, August 15th. StockNews.com lowered Dyne Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, September 16th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $55.00 target price on shares of Dyne Therapeutics in a research note on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Dyne Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $50.60.

Dyne Therapeutics Price Performance

Shares of NASDAQ DYN traded up $0.71 during mid-day trading on Wednesday, reaching $30.04. 45,985 shares of the company’s stock were exchanged, compared to its average volume of 1,485,476. Dyne Therapeutics has a 52 week low of $9.26 and a 52 week high of $47.45. The firm has a 50-day moving average price of $32.63 and a two-hundred day moving average price of $35.12. The firm has a market capitalization of $3.02 billion, a price-to-earnings ratio of -8.37 and a beta of 1.10.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings data on Monday, August 12th. The company reported ($0.70) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.02. As a group, sell-side analysts forecast that Dyne Therapeutics will post -2.99 EPS for the current fiscal year.

Insider Activity at Dyne Therapeutics

In other Dyne Therapeutics news, Director Dirk Kersten sold 79,411 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $36.45, for a total value of $2,894,530.95. Following the transaction, the director now owns 234,127 shares of the company’s stock, valued at approximately $8,533,929.15. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Dirk Kersten sold 79,411 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $36.45, for a total value of $2,894,530.95. Following the transaction, the director now owns 234,127 shares of the company’s stock, valued at $8,533,929.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John Cox acquired 32,000 shares of the firm’s stock in a transaction dated 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 purchase, the chief executive officer now directly owns 8,000 shares of the company’s stock, valued at approximately $264,320. This trade represents a -100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 158,975 shares of company stock valued at $5,693,789 over the last ninety days. Insiders own 20.77% of the company’s stock.

Institutional Trading of Dyne Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its position in Dyne Therapeutics by 904.1% in the second quarter. Nisa Investment Advisors LLC now owns 743 shares of the company’s stock worth $26,000 after purchasing an additional 669 shares during the last quarter. US Bancorp DE increased its holdings in shares of Dyne Therapeutics by 776.9% in the 3rd quarter. US Bancorp DE now owns 1,368 shares of the company’s stock worth $49,000 after buying an additional 1,212 shares during the last quarter. Values First Advisors Inc. purchased a new stake in shares of Dyne Therapeutics during the 3rd quarter valued at about $62,000. KBC Group NV raised its position in shares of Dyne Therapeutics by 53.4% during the 3rd quarter. KBC Group NV now owns 2,157 shares of the company’s stock valued at $77,000 after buying an additional 751 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Dyne Therapeutics by 39.9% in the 2nd quarter. Amalgamated Bank now owns 2,792 shares of the company’s stock valued at $99,000 after acquiring an additional 796 shares during the last quarter. Institutional investors 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.