Dyne Therapeutics, Inc. (NASDAQ:DYN) Receives Average Recommendation of “Buy” from Analysts

Dyne Therapeutics, Inc. (NASDAQ:DYN) has been given a consensus rating of “Buy” by the thirteen ratings firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $49.91.

DYN has been the topic of a number of recent analyst reports. Robert W. Baird initiated coverage on shares of Dyne Therapeutics in a research report on Friday, December 13th. They issued an “outperform” rating and a $46.00 target price on the stock. JPMorgan Chase & Co. cut shares of Dyne Therapeutics from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $43.00 to $35.00 in a research report on Thursday, October 24th. Raymond James raised shares of Dyne Therapeutics to a “strong-buy” rating in a research report on Thursday, December 12th. HC Wainwright reissued a “buy” rating and set a $55.00 price target on shares of Dyne Therapeutics in a research report on Friday, January 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $45.00 price target on shares of Dyne Therapeutics in a research report on Tuesday, January 14th.

Dyne Therapeutics Price Performance

NASDAQ DYN opened at $14.14 on Friday. The firm’s 50-day moving average is $22.75 and its two-hundred day moving average is $31.89. Dyne Therapeutics has a 12 month low of $13.23 and a 12 month high of $47.45. The stock has a market capitalization of $1.44 billion, a P/E ratio of -3.97 and a beta of 1.16.

Dyne Therapeutics (NASDAQ:DYN) last posted its earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.25). As a group, analysts anticipate that Dyne Therapeutics will post -3.44 EPS for the current year.

Insider Buying and Selling

In other Dyne Therapeutics news, Director Carlo Incerti sold 16,500 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $28.73, for a total value of $474,045.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Richard William Scalzo sold 1,455 shares of the stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $28.12, for a total transaction of $40,914.60. Following the completion of the transaction, the senior vice president now owns 127,078 shares in the company, valued at $3,573,433.36. This represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 21,071 shares of company stock worth $606,476. Company insiders own 20.77% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

Several hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers increased its stake in Dyne Therapeutics by 3.0% in the fourth quarter. Rhumbline Advisers now owns 128,244 shares of the company’s stock valued at $3,021,000 after purchasing an additional 3,734 shares during the last quarter. Legato Capital Management LLC purchased a new position in Dyne Therapeutics in the fourth quarter valued at approximately $305,000. abrdn plc purchased a new position in Dyne Therapeutics in the fourth quarter valued at approximately $608,000. China Universal Asset Management Co. Ltd. increased its stake in Dyne Therapeutics by 11.7% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 21,575 shares of the company’s stock valued at $508,000 after purchasing an additional 2,265 shares during the last quarter. Finally, KBC Group NV increased its stake in Dyne Therapeutics by 45.3% in the fourth quarter. KBC Group NV now owns 3,135 shares of the company’s stock valued at $74,000 after purchasing an additional 978 shares during 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.