Royal Bank Of Canada Lowers Dyne Therapeutics (NASDAQ:DYN) Price Target to $23.00

Key Points

• Analysts at Royal Bank of Canada have cut their price target for Dyne Therapeutics from $25.00 to $23.00, suggesting a potential upside of 156.98% based on current stock prices.
• Despite the price target adjustments, Dyne Therapeutics has received a consensus rating of "Moderate Buy" from several analysts, with a consensus price target of $38.13.
• CEO John Cox recently purchased 100,000 shares at $9.11 each, increasing his ownership stake in the company by 70.33% and signaling confidence in the company's future.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) had its target price cut by equities research analysts at Royal Bank Of Canada from $25.00 to $23.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank Of Canada's price target points to a potential upside of 137.11% from the stock's current price.

A number of other equities analysts also recently commented on DYN. Robert W. Baird lowered their price objective on Dyne Therapeutics from $46.00 to $32.00 and set an "outperform" rating for the company in a research report on Wednesday, June 18th. Oppenheimer initiated coverage on Dyne Therapeutics in a research report on Monday, June 2nd. They set an "outperform" rating and a $34.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on Dyne Therapeutics from $10.00 to $9.00 and set a "neutral" rating for the company in a research report on Tuesday, July 15th. Jones Trading initiated coverage on Dyne Therapeutics in a research report on Thursday, June 26th. They set a "buy" rating and a $30.00 price objective for the company. Finally, Chardan Capital lowered their price objective on Dyne Therapeutics from $50.00 to $38.00 and set a "buy" rating for the company in a research report on Tuesday. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $38.13.

Dyne Therapeutics Trading Down 2.1%

Shares of NASDAQ:DYN traded down $0.21 during midday trading on Tuesday, reaching $9.70. 270,880 shares of the company's stock were exchanged, compared to its average volume of 2,549,961. The firm's 50 day simple moving average is $10.79 and its two-hundred day simple moving average is $11.55. The company has a debt-to-equity ratio of 0.17, a current ratio of 16.83 and a quick ratio of 20.35. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of -2.53 and a beta of 1.08. Dyne Therapeutics has a fifty-two week low of $6.36 and a fifty-two week high of $47.45.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last issued its quarterly 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. As a group, sell-side analysts forecast that Dyne Therapeutics will post -3.44 EPS for the current fiscal year.

Insider Transactions at Dyne Therapeutics

In related news, CEO John Cox acquired 100,000 shares of Dyne Therapeutics stock in a transaction that occurred 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 14.14% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Summit Investment Advisors Inc. lifted its holdings in shares of Dyne Therapeutics by 9.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,627 shares of the company's stock valued at $203,000 after buying an additional 721 shares during the period. China Universal Asset Management Co. Ltd. raised its position in Dyne Therapeutics by 5.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 22,690 shares of the company's stock valued at $237,000 after buying an additional 1,115 shares during the period. Arizona State Retirement System lifted its stake in Dyne Therapeutics by 9.2% in the 1st quarter. Arizona State Retirement System now owns 17,501 shares of the company's stock worth $183,000 after acquiring an additional 1,481 shares in the last quarter. CWM LLC lifted 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 acquiring an additional 1,900 shares in the last quarter. Finally, E Fund Management Co. Ltd. lifted its stake in Dyne Therapeutics by 16.2% in the 1st quarter. E Fund Management Co. Ltd. now owns 13,771 shares of the company's stock worth $144,000 after acquiring an additional 1,923 shares in the last quarter. 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.