Dyne Therapeutics, Inc. (NASDAQ:DYN) Given Average Rating of "Buy" by Brokerages

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) have received an average rating of "Buy" from the fifteen analysts that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $47.46.

Several equities analysts have recently issued reports on the company. HC Wainwright reiterated a "buy" rating and set a $46.00 price objective on shares of Dyne Therapeutics in a research report on Monday, March 17th. Scotiabank initiated coverage on Dyne Therapeutics in a research report on Friday, March 7th. They set a "sector outperform" rating and a $50.00 price target for the company. Royal Bank of Canada reissued an "outperform" rating and set a $45.00 price target on shares of Dyne Therapeutics in a report on Tuesday, January 14th. BMO Capital Markets initiated coverage on shares of Dyne Therapeutics in a report on Wednesday, March 12th. They issued an "outperform" rating and a $50.00 price objective for the company. Finally, Piper Sandler lowered their target price on shares of Dyne Therapeutics from $53.00 to $48.00 and set an "overweight" rating on the stock in a research note on Friday, February 28th.

Insider Transactions at Dyne Therapeutics

In other news, insider Oxana Beskrovnaya sold 2,598 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total transaction of $36,242.10. Following the sale, the insider now owns 199,087 shares in the company, valued at $2,777,263.65. The trade was a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 6,237 shares of company stock valued at $77,760 over the last three months. Company insiders own 20.77% of the company's stock.

Hedge Funds Weigh In On Dyne Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. abrdn plc purchased a new stake in shares of Dyne Therapeutics in the fourth quarter worth approximately $608,000. Raymond James Financial Inc. acquired a new position in Dyne Therapeutics in the 4th quarter valued at approximately $2,340,000. Barclays PLC lifted its position in Dyne Therapeutics by 162.2% in the 3rd quarter. Barclays PLC now owns 207,309 shares of the company's stock worth $7,446,000 after buying an additional 128,246 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Dyne Therapeutics by 63.3% during the 4th quarter. Schroder Investment Management Group now owns 147,002 shares of the company's stock valued at $3,477,000 after buying an additional 56,961 shares during the period. Finally, Swiss National Bank grew its holdings in shares of Dyne Therapeutics by 3.3% during the 4th quarter. Swiss National Bank now owns 108,600 shares of the company's stock valued at $2,559,000 after acquiring an additional 3,500 shares in the last quarter. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

Dyne Therapeutics Price Performance

Shares of DYN opened at $11.86 on Friday. The company has a market cap of $1.35 billion, a P/E ratio of -3.33 and a beta of 1.21. Dyne Therapeutics has a 12 month low of $6.36 and a 12 month high of $47.45. The stock has a fifty day moving average price of $10.58 and a 200 day moving average price of $18.87.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last released its quarterly earnings data on Tuesday, March 4th. The company reported ($0.88) earnings per share for the quarter, topping analysts' consensus estimates of ($0.92) by $0.04. As a group, research analysts anticipate that Dyne Therapeutics will post -3.44 earnings per share for the current year.

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.

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