Dyne Therapeutics (NASDAQ:DYN) Stock Rating Reaffirmed as "Buy" by Chardan Capital

Key Points

• Chardan Capital reaffirmed a “Buy” rating on Dyne Therapeutics and set a $38 price target, implying 134.42% upside from the prior close. Analysts overall maintain a “Moderate Buy” consensus with a $33.21 average target.
• Dyne’s stock opened at $16.21, while the company reported a quarterly loss of $1.08 per share—worse than the $0.75 consensus estimate. Analysts expect a full-year loss of approximately $3.59 per share.
• Insiders sold substantial shares recently, including director Jason Rhodes’ $54 million sale; insiders sold $83.3 million in stock over three months. Hedge funds and institutional investors own 96.68% of the company.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report)'s stock had its "buy" rating reaffirmed by Chardan Capital in a research note issued on Wednesday, Benzinga reports. They currently have a $38.00 target price on the stock. Chardan Capital's price objective indicates a potential upside of 134.42% from the stock's previous close.

Several other research analysts have also commented on DYN. Morgan Stanley decreased their price objective on shares of Dyne Therapeutics from $45.00 to $36.00 and set an "overweight" rating for the company in a report on Wednesday, September 9th. Wall Street Zen cut shares of Dyne Therapeutics from a "sell" rating to a "strong sell" rating in a research report on Saturday, August 1st. JPMorgan Chase & Co. lowered shares of Dyne Therapeutics from a "neutral" rating to an "underweight" rating and lowered their price objective for the stock from $17.00 to $10.00 in a report on Wednesday, September 9th. Robert W. Baird cut their price objective on Dyne Therapeutics from $30.00 to $26.00 and set an "outperform" rating on the stock in a research report on Wednesday, September 9th. Finally, TD Cowen assumed coverage on Dyne Therapeutics in a report on Friday, June 26th. They set a "buy" rating on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $33.21.

Dyne Therapeutics Price Performance

Dyne Therapeutics stock opened at $16.21 on Wednesday. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of -4.87 and a beta of 1.08. The company has a quick ratio of 12.02, a current ratio of 12.02 and a debt-to-equity ratio of 0.28. The business has a 50-day simple moving average of $23.01 and a 200 day simple moving average of $20.61. Dyne Therapeutics has a 52 week low of $12.26 and a 52 week high of $27.31.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.33). On average, research analysts forecast that Dyne Therapeutics will post -3.59 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Jason Rhodes sold 2,160,516 shares of Dyne Therapeutics stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $25.00, for a total value of $54,012,900.00. Following the completion of the transaction, the director owned 428,946 shares of the company's stock, valued at $10,723,650. The trade was a 83.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Cox sold 5,658 shares of the company's stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $18.88, for a total transaction of $106,823.04. Following the completion of the transaction, the chief executive officer owned 357,507 shares in the company, valued at approximately $6,749,732.16. The trade was a 1.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 3,376,157 shares of company stock worth $83,290,469 over the last three months. 9.46% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Hedge funds have recently added to or reduced their stakes in the company. Hilton Head Capital Partners LLC purchased a new stake in Dyne Therapeutics during the 1st quarter valued at $26,000. Allworth Financial LP purchased a new position in shares of Dyne Therapeutics in the second quarter worth $62,000. Nykredit A S bought a new position in shares of Dyne Therapeutics during the second quarter valued at $113,000. Keating Financial Advisory Services Inc. purchased a new stake in shares of Dyne Therapeutics during the second quarter valued at $114,000. Finally, Persistent Asset Partners Ltd purchased a new stake in shares of Dyne Therapeutics during the second quarter valued at $124,000. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

About Dyne Therapeutics

Dyne Therapeutics, Inc is a biotechnology company focused on developing treatments for genetically driven muscle diseases. The company uses its FORCE platform, which is designed to deliver oligonucleotide therapeutics to skeletal muscle and other tissues by combining muscle-targeting antibodies with genetic medicines.

Dyne's research and development programs are aimed at conditions in which the underlying genetic mutations impair muscle function. Its pipeline has included DYNE-101 for myotonic dystrophy type 1 and DYNE-251 for Duchenne muscular dystrophy in patients with mutations amenable to exon 51 skipping.