Raymond James Financial Reiterates "Outperform" Rating for Dyne Therapeutics (NASDAQ:DYN)

Key Points

• Raymond James Financial has reiterated an "outperform" rating for Dyne Therapeutics (NASDAQ:DYN), lowering their price target from $37.00 to $31.00, indicating a potential upside of 238.80% from the current stock price.
• Institutional investors and hedge funds own a significant majority, at 96.68%, of Dyne Therapeutics, with several firms increasing their stakes recently.
• CEO John Cox purchased 100,000 shares of the company's stock for approximately $911,000, increasing his ownership by 70.33%.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report)'s stock had its "outperform" rating reaffirmed by stock analysts at Raymond James Financial in a note issued to investors on Tuesday,Benzinga reports. They presently have a $31.00 target price on the stock, down from their previous target price of $37.00. Raymond James Financial's target price points to a potential upside of 208.46% from the stock's previous close.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of Dyne Therapeutics from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Guggenheim restated a "buy" rating and issued a $50.00 target price on shares of Dyne Therapeutics in a research note on Wednesday, June 18th. Oppenheimer initiated coverage on shares of Dyne Therapeutics in a research note on Monday, June 2nd. They issued an "outperform" rating and a $34.00 target price for the company. Sanford C. Bernstein began coverage on shares of Dyne Therapeutics in a research note on Tuesday, June 24th. They issued a "market perform" rating and a $13.00 target price for the company. Finally, HC Wainwright cut their price target on shares of Dyne Therapeutics from $46.00 to $38.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $36.25.

Dyne Therapeutics Trading Up 2.0%

NASDAQ:DYN traded up $0.20 during midday trading on Tuesday, hitting $10.05. The stock had a trading volume of 2,751,418 shares, compared to its average volume of 2,574,157. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of -2.60 and a beta of 1.08. Dyne Therapeutics has a one year low of $6.36 and a one year high of $47.45. The company has a quick ratio of 20.35, a current ratio of 16.83 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average of $10.75 and a 200 day moving average of $11.52.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last issued its quarterly earnings data on Monday, July 28th. The company reported ($0.97) EPS for the quarter, topping analysts' consensus estimates of ($0.99) by $0.02. As a group, sell-side analysts forecast that Dyne Therapeutics will post -3.44 EPS for the current year.

Insider Activity

In other news, CEO John Cox acquired 100,000 shares of the company's stock in a transaction dated Monday, July 14th. The shares were acquired at an average price of $9.11 per share, with a total value of $911,000.00. Following the purchase, the chief executive officer directly owned 242,179 shares of the company's stock, valued at $2,206,250.69. This trade represents a 70.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 14.14% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Dyne Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Teacher Retirement System of Texas grew its stake in shares of Dyne Therapeutics by 20.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 19,700 shares of the company's stock worth $188,000 after purchasing an additional 3,320 shares during the period. Y Intercept Hong Kong Ltd grew its stake in shares of Dyne Therapeutics by 54.5% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 124,628 shares of the company's stock worth $1,186,000 after purchasing an additional 43,963 shares during the period. AlphaQuest LLC grew its stake in shares of Dyne Therapeutics by 12.2% during the 2nd quarter. AlphaQuest LLC now owns 18,317 shares of the company's stock worth $174,000 after purchasing an additional 1,985 shares during the period. Mutual of America Capital Management LLC grew its stake in shares of Dyne Therapeutics by 5.1% during the 2nd quarter. Mutual of America Capital Management LLC now owns 51,011 shares of the company's stock worth $486,000 after purchasing an additional 2,495 shares during the period. Finally, CWM LLC grew its stake in shares of Dyne Therapeutics by 168.1% during the 2nd quarter. CWM LLC now owns 3,030 shares of the company's stock worth $29,000 after purchasing an additional 1,900 shares during the period. 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.