Dyne Therapeutics (NASDAQ:DYN) Upgraded to “Strong-Buy” at Raymond James

Dyne Therapeutics (NASDAQ:DYN) was upgraded by investment analysts at Raymond James to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

A number of other analysts have also issued reports on the company. Morgan Stanley raised their target price on Dyne Therapeutics from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Wednesday, August 14th. Chardan Capital reaffirmed a “buy” rating and set a $50.00 target price on shares of Dyne Therapeutics in a research report on Wednesday, November 13th. Oppenheimer reissued an “outperform” rating and issued a $55.00 price target on shares of Dyne Therapeutics in a report on Tuesday, September 3rd. Royal Bank of Canada assumed coverage on shares of Dyne Therapeutics in a report on Tuesday, November 26th. They set an “outperform” rating and a $45.00 price objective on the stock. Finally, StockNews.com lowered shares of Dyne Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, September 16th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Dyne Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $50.42.

Dyne Therapeutics Stock Performance

Shares of NASDAQ DYN opened at $25.73 on Thursday. Dyne Therapeutics has a 52 week low of $11.51 and a 52 week high of $47.45. The business’s 50-day simple moving average is $30.39 and its 200-day simple moving average is $35.20. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of -7.23 and a beta of 1.09.

Dyne Therapeutics (NASDAQ:DYN) last released its earnings results on Tuesday, November 12th. The company reported ($0.96) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.25). As a group, equities research analysts forecast that Dyne Therapeutics will post -3.45 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Richard William Scalzo sold 1,390 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $34.55, for a total transaction of $48,024.50. Following the completion of the sale, the senior vice president now owns 98,568 shares in the company, valued at $3,405,524.40. This trade represents a 1.39 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Dirk Kersten sold 79,411 shares of Dyne Therapeutics stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $36.45, for a total transaction of $2,894,530.95. Following the completion of the transaction, the director now owns 234,127 shares of the company’s stock, valued at $8,533,929.15. This trade represents a 25.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 180,046 shares of company stock worth $6,300,265 over the last quarter. Company insiders own 20.77% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in DYN. State of New Jersey Common Pension Fund D acquired a new stake in shares of Dyne Therapeutics in the third quarter valued at approximately $1,588,000. Seven Eight Capital LP increased its stake in Dyne Therapeutics by 195.7% in the second quarter. Seven Eight Capital LP now owns 53,739 shares of the company’s stock valued at $1,896,000 after purchasing an additional 35,568 shares in the last quarter. Jennison Associates LLC increased its position in shares of 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 in the last quarter. Mutual of America Capital Management LLC bought a new stake in shares of Dyne Therapeutics in the second quarter worth about $1,724,000. Finally, Victory Capital Management Inc. acquired a new stake in Dyne Therapeutics during the 2nd quarter worth approximately $676,000. Institutional investors and hedge funds own 96.68% of the company’s stock.

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.