HC Wainwright Has Lowered Expectations for Dyne Therapeutics (NASDAQ:DYN) Stock Price

Key Points

• HC Wainwright cut Dyne Therapeutics’ price target from $50 to $32 while maintaining a “buy” rating, implying roughly 97% upside from the stock’s $16.21 price. The analyst consensus remains “Moderate Buy,” with an average target of $31.92.
• Analyst views are mixed: Morgan Stanley and Robert W. Baird also lowered their targets, while JPMorgan downgraded the stock to “underweight” with a $10 target; Raymond James maintained a “strong-buy” rating.
• Dyne reported a quarterly EPS loss of $1.08, missing the $0.75 loss estimate, while insiders sold $83.3 million of shares over the past 90 days. Institutional investors own approximately 96.7% of the company.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) had its price objective decreased by investment analysts at HC Wainwright from $50.00 to $32.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the stock. HC Wainwright's price target points to a potential upside of 97.41% from the company's current price.

Other equities analysts also recently issued research reports about the company. Morgan Stanley dropped their target price on Dyne Therapeutics from $45.00 to $36.00 and set an "overweight" rating on the stock in a report on Wednesday, September 9th. Robert W. Baird reduced their price target on Dyne Therapeutics from $30.00 to $26.00 and set an "outperform" rating for the company in a research report on Wednesday, September 9th. Raymond James Financial reissued a "strong-buy" rating and issued a $37.00 price objective on shares of Dyne Therapeutics in a research note on Tuesday, September 8th. JPMorgan Chase & Co. downgraded Dyne Therapeutics from a "neutral" rating to an "underweight" rating and lowered their price target for the company from $17.00 to $10.00 in a report on Wednesday, September 9th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Dyne Therapeutics in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $31.92.

Dyne Therapeutics Trading Down 0.8%

Shares of NASDAQ DYN opened at $16.21 on Wednesday. The company has a quick ratio of 12.02, a current ratio of 12.02 and a debt-to-equity ratio of 0.28. Dyne Therapeutics has a 12 month low of $12.26 and a 12 month high of $27.31. The company has a market cap of $3.03 billion, a price-to-earnings ratio of -4.87 and a beta of 1.08. The business has a fifty day simple moving average of $23.01 and a 200-day simple moving average of $20.61.

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

Insider Activity at Dyne Therapeutics

In other news, insider Douglas Kerr sold 3,745 shares of the business's stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $24.35, for a total transaction of $91,190.75. Following the transaction, the insider owned 163,854 shares in the company, valued at approximately $3,989,844.90. The trade was a 2.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jason P. Rhodes sold 2,160,516 shares of the company's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $25.00, for a total transaction of $54,012,900.00. Following the transaction, the director directly owned 428,946 shares of the company's stock, valued at $10,723,650. This represents a 83.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 3,376,157 shares of company stock worth $83,290,469 in the last ninety days. 9.46% of the stock is currently owned by insiders.

Institutional Trading of Dyne Therapeutics

Several institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC acquired a new position in shares of Dyne Therapeutics in the second quarter valued at $300,000. Nykredit A S acquired a new stake in shares of Dyne Therapeutics during the 2nd quarter valued at about $113,000. Moore Capital Management LP boosted its holdings in Dyne Therapeutics by 288.2% during the second quarter. Moore Capital Management LP now owns 305,794 shares of the company's stock valued at $6,792,000 after purchasing an additional 227,029 shares in the last quarter. Two Sigma Securities LLC acquired a new position in shares of Dyne Therapeutics in the 2nd quarter worth approximately $222,000. Finally, Alyeska Investment Group L.P. bought a new position in shares of Dyne Therapeutics during the 2nd quarter worth approximately $5,448,000. Institutional investors and hedge funds own 96.68% of the company's stock.

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.

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