Raymond James Initiates Coverage on Dyne Therapeutics (NASDAQ:DYN)

Raymond James started coverage on shares of Dyne Therapeutics (NASDAQ:DYN - Free Report) in a report published on Wednesday, MarketBeat reports. The firm issued an outperform rating and a $37.00 price target on the stock.

Other research analysts have also issued research reports about the company. Oppenheimer started coverage on Dyne Therapeutics in a research report on Monday, June 2nd. They set an "outperform" rating and a $34.00 target price on the stock. Piper Sandler decreased their target price on Dyne Therapeutics from $53.00 to $48.00 and set an "overweight" rating on the stock in a research report on Friday, February 28th. Scotiabank started coverage on Dyne Therapeutics in a research report on Friday, March 7th. They set a "sector outperform" rating and a $50.00 target price on the stock. Evercore ISI initiated coverage on Dyne Therapeutics in a research report on Thursday, May 29th. They set an "outperform" rating and a $46.00 target price on the stock. Finally, Chardan Capital restated a "buy" rating and issued a $50.00 price objective on shares of Dyne Therapeutics in a report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Dyne Therapeutics presently has an average rating of "Moderate Buy" and a consensus price target of $44.93.

Dyne Therapeutics Price Performance

NASDAQ:DYN traded down $0.05 during midday trading on Wednesday, hitting $14.41. The company's stock had a trading volume of 1,747,992 shares, compared to its average volume of 1,687,744. Dyne Therapeutics has a fifty-two week low of $6.36 and a fifty-two week high of $47.45. The firm's 50 day moving average is $11.19 and its 200-day moving average is $15.12. The firm has a market cap of $1.64 billion, a P/E ratio of -4.05 and a beta of 1.17.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.17). As a group, analysts forecast that Dyne Therapeutics will post -3.44 EPS for the current year.

Institutional Trading of Dyne Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of DYN. Caitong International Asset Management Co. Ltd increased its stake in shares of 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 acquiring an additional 2,446 shares during the last quarter. Quarry LP acquired a new stake in shares of Dyne Therapeutics during the 1st quarter worth about $47,000. GF Fund Management CO. LTD. acquired a new stake in shares of Dyne Therapeutics during the 4th quarter worth about $50,000. E Fund Management Co. Ltd. increased its position in shares of Dyne Therapeutics by 16.2% during the 1st quarter. E Fund Management Co. Ltd. now owns 13,771 shares of the company's stock worth $144,000 after purchasing an additional 1,923 shares during the last quarter. Finally, Optimize Financial Inc acquired a new stake in shares of Dyne Therapeutics during the 1st quarter worth about $154,000. 96.68% of the stock is owned by institutional investors and hedge funds.

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.