Dyne Therapeutics (NASDAQ:DYN) Price Target Lowered to $38.00 at Chardan Capital

Key Points

• Chardan Capital has reduced its price target for Dyne Therapeutics from $50.00 to $38.00, while maintaining a "buy" rating, indicating a potential upside of 308.16% from the current price.
• JPMorgan Chase downgraded Dyne Therapeutics' price objective to $9.00 with a "neutral" rating, amidst a wider trend of analysts cutting their price targets significantly.
• CEO John Cox has purchased 100,000 shares of the company at an average price of $9.11, increasing his ownership by over 70%, reflecting confidence in the company's future.

Dyne Therapeutics (NASDAQ:DYN - Free Report) had its price target lowered by Chardan Capital from $50.00 to $38.00 in a research note published on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

DYN has been the topic of several other research reports. Sanford C. Bernstein started 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 on the stock. Guggenheim reiterated a "buy" rating and issued a $50.00 price objective on shares of Dyne Therapeutics in a report on Wednesday, June 18th. Jones Trading began coverage on shares of Dyne Therapeutics in a report on Thursday, June 26th. They set a "buy" rating and a $30.00 target price on the stock. Oppenheimer began coverage on shares of Dyne Therapeutics in a report on Monday, June 2nd. They set an "outperform" rating and a $34.00 target price on the stock. Finally, HC Wainwright reduced their price objective on shares of Dyne Therapeutics from $46.00 to $38.00 and set a "buy" rating for the company in a research report on Friday, May 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Dyne Therapeutics currently has a consensus rating of "Moderate Buy" and an average target price of $38.13.

Dyne Therapeutics Price Performance

Shares of DYN stock traded up $0.71 during mid-day trading on Tuesday, reaching $9.91. The company's stock had a trading volume of 3,001,460 shares, compared to its average volume of 2,803,117. Dyne Therapeutics has a 1-year low of $6.36 and a 1-year high of $47.45. The company has a market cap of $1.41 billion, a P/E ratio of -2.57 and a beta of 1.08. The company has a debt-to-equity ratio of 0.17, a quick ratio of 20.35 and a current ratio of 16.83. The firm's 50-day moving average is $10.79 and its two-hundred day moving average is $11.55.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last announced its earnings results on Monday, July 28th. The company reported ($0.97) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.99) by $0.02. On average, research analysts predict that Dyne Therapeutics will post -3.44 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO John Cox bought 100,000 shares of the business's stock in a transaction on Monday, July 14th. The stock was acquired at an average price of $9.11 per share, for a total transaction of $911,000.00. Following the purchase, the chief executive officer directly owned 242,179 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 14.14% of the company's stock.

Hedge Funds Weigh In On Dyne Therapeutics

A number of large investors have recently modified their holdings of the company. CWM LLC increased its stake in Dyne Therapeutics by 168.1% in 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. Caitong International Asset Management Co. Ltd increased its stake in Dyne Therapeutics by 378.6% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 3,092 shares of the company's stock worth $32,000 after purchasing an additional 2,446 shares during the period. Quarry LP purchased a new position in shares of Dyne Therapeutics during the first quarter valued at approximately $47,000. GF Fund Management CO. LTD. purchased a new position in shares of Dyne Therapeutics during the fourth quarter valued at approximately $50,000. Finally, E Fund Management Co. Ltd. increased its stake in shares of Dyne Therapeutics by 16.2% during the first quarter. E Fund Management Co. Ltd. now owns 13,771 shares of the company's stock valued at $144,000 after buying an additional 1,923 shares during the period. 96.68% of the stock is owned by hedge funds and other institutional investors.

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.