Dyne Therapeutics (NASDAQ:DYN) Price Target Cut to $32.00 by Analysts at Robert W. Baird

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) had its price target decreased by Robert W. Baird from $46.00 to $32.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Robert W. Baird's price target points to a potential upside of 196.96% from the company's current price.

A number of other research firms also recently issued reports on DYN. HC Wainwright dropped their price objective 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. Evercore ISI began 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. JPMorgan Chase & Co. reduced their price target on Dyne Therapeutics from $18.00 to $17.00 and set a "neutral" rating for the company in a research report on Friday, March 21st. Raymond James Financial initiated coverage on Dyne Therapeutics in a research note on Wednesday, June 11th. They set an "outperform" rating and a $37.00 price objective for the company. Finally, Scotiabank initiated coverage on Dyne Therapeutics in a research note on Friday, March 7th. They issued a "sector outperform" rating and a $50.00 target price on the stock. One 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 assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $43.93.

Dyne Therapeutics Stock Down 0.8%

DYN stock opened at $10.78 on Wednesday. The firm's fifty day simple moving average is $11.40 and its two-hundred day simple moving average is $14.86. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -3.01 and a beta of 1.16. Dyne Therapeutics has a twelve month low of $6.36 and a twelve month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported ($1.05) earnings per share for the quarter, missing analysts' consensus estimates of ($0.88) by ($0.17). As a group, equities research analysts expect that Dyne Therapeutics will post -3.44 EPS for the current year.

Hedge Funds Weigh In On Dyne Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its holdings in shares of Dyne Therapeutics by 4.2% during the first quarter. Rhumbline Advisers now owns 133,627 shares of the company's stock worth $1,398,000 after buying an additional 5,383 shares in the last quarter. Optimize Financial Inc acquired a new stake in Dyne Therapeutics in the 1st quarter valued at about $154,000. Exome Asset Management LLC acquired a new position in shares of Dyne Therapeutics during the 1st quarter worth approximately $2,703,000. Caxton Associates LLP acquired a new position in shares of Dyne Therapeutics during the 1st quarter worth approximately $157,000. Finally, Voleon Capital Management LP purchased a new stake in shares of Dyne Therapeutics in the first quarter valued at approximately $624,000. 96.68% of the stock is owned by hedge funds and other institutional investors.

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.

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