Dyne Therapeutics (NASDAQ:DYN) Earns “Buy” Rating from Chardan Capital

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “buy” rating restated by equities researchers at Chardan Capital in a research note issued on Friday,Benzinga reports. They presently have a $50.00 price objective on the stock. Chardan Capital’s price target indicates a potential upside of 267.38% from the stock’s current price.

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. Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 price objective on shares of Dyne Therapeutics in a research note on Tuesday, January 14th. Raymond James upgraded Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. Guggenheim reiterated a “buy” rating on shares of Dyne Therapeutics in a research note on Friday, January 24th. Finally, Piper Sandler cut their price objective on Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $48.64.

Dyne Therapeutics Stock Up 3.3 %

Dyne Therapeutics stock opened at $13.61 on Friday. The business has a 50-day simple moving average of $16.98 and a two-hundred day simple moving average of $27.61. The company has a market cap of $1.39 billion, a P/E ratio of -3.82 and a beta of 1.11. Dyne Therapeutics has a 52-week low of $12.87 and a 52-week high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.04. Research analysts anticipate that Dyne Therapeutics will post -3.44 EPS for the current fiscal year.

Insiders Place Their Bets

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 stock was sold at an average price of $13.95, for a total transaction of $36,242.10. Following the sale, the insider now directly owns 199,087 shares of the company’s stock, valued at $2,777,263.65. This represents a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard William Scalzo sold 1,455 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $28.12, for a total value of $40,914.60. Following the sale, the senior vice president now directly owns 127,078 shares in the company, valued at $3,573,433.36. This trade represents a 1.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,387 shares of company stock worth $142,789 in the last three months. 20.77% of the stock is owned by company insiders.

Institutional Trading of Dyne Therapeutics

Several hedge funds have recently modified their holdings of the company. FMR LLC raised its holdings in shares of Dyne Therapeutics by 69.7% during the 3rd quarter. FMR LLC now owns 9,026,697 shares of the company’s stock worth $324,239,000 after acquiring an additional 3,707,734 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Dyne Therapeutics by 8.3% during the 4th quarter. Janus Henderson Group PLC now owns 7,379,309 shares of the company’s stock worth $173,808,000 after acquiring an additional 566,146 shares in the last quarter. RTW Investments LP raised its holdings in Dyne Therapeutics by 6.8% during the 3rd quarter. RTW Investments LP now owns 6,818,641 shares of the company’s stock valued at $244,926,000 after buying an additional 431,503 shares during the period. RA Capital Management L.P. raised its holdings in Dyne Therapeutics by 5.5% during the 3rd quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company’s stock valued at $229,211,000 after buying an additional 331,940 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 valued at $130,816,000 after buying an additional 440,890 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.