Dyne Therapeutics (NASDAQ:DYN) Rating Increased to Strong-Buy at Raymond James Financial

Key Points

• Dyne Therapeutics has been upgraded from an "outperform" to a "strong-buy" rating by Raymond James Financial, with a price target of $35.00, indicating a potential upside of 178.22%.
• The company reported an earnings per share (EPS) of ($0.97), exceeding the consensus estimate of ($0.99), while analysts expect a -3.44 EPS for the current fiscal year.
• CEO John Cox acquired 100,000 shares at an average cost of $9.11 per share, increasing his ownership by 70.33%, reflecting confidence in the company's future.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) was upgraded by stock analysts at Raymond James Financial from an "outperform" rating to a "strong-buy" rating in a report issued on Monday,Finviz reports. The firm presently has a $35.00 price target on the stock. Raymond James Financial's target price suggests a potential upside of 178.22% from the stock's current price.

Several other brokerages also recently weighed in on DYN. Royal Bank Of Canada cut their price target on shares of Dyne Therapeutics from $25.00 to $23.00 and set an "outperform" rating on the stock in a report on Tuesday, July 29th. Jones Trading assumed coverage on shares of Dyne Therapeutics in a research note on Thursday, June 26th. They set a "buy" rating and a $30.00 price objective on the stock. Oppenheimer dropped their price objective on shares of Dyne Therapeutics from $34.00 to $13.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. Guggenheim reaffirmed a "buy" rating and set a $50.00 price objective on shares of Dyne Therapeutics in a research note on Wednesday, June 18th. Finally, Sanford C. Bernstein assumed coverage on shares of Dyne Therapeutics in a research note on Tuesday, June 24th. They issued a "market perform" rating and a $13.00 price target on the stock. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $34.07.

Dyne Therapeutics Stock Up 2.9%

Shares of Dyne Therapeutics stock opened at $12.58 on Monday. The company has a debt-to-equity ratio of 0.17, a current ratio of 16.83 and a quick ratio of 16.83. Dyne Therapeutics has a 1 year low of $6.36 and a 1 year high of $46.81. The firm's 50-day moving average is $10.23 and its two-hundred day moving average is $11.16. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -3.26 and a beta of 1.08.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported ($0.97) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.99) by $0.02. As a group, research analysts expect that Dyne Therapeutics will post -3.44 earnings per share 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 shares were purchased at an average cost of $9.11 per share, for a total transaction of $911,000.00. Following the acquisition, the chief executive officer owned 242,179 shares in the company, valued at approximately $2,206,250.69. This represents a 70.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 20.77% of the company's stock.

Institutional Trading of Dyne Therapeutics

Institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC raised its holdings in Dyne Therapeutics by 168.1% in the 2nd quarter. CWM LLC now owns 3,030 shares of the company's stock valued at $29,000 after buying an additional 1,900 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings 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 valued at $32,000 after buying an additional 2,446 shares during the period. Quarry LP purchased a new stake in Dyne Therapeutics in the 1st quarter valued at about $47,000. GF Fund Management CO. LTD. purchased a new stake in Dyne Therapeutics in the 4th quarter valued at about $50,000. Finally, Ameritas Investment Partners Inc. raised its holdings in Dyne Therapeutics by 11.1% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 9,582 shares of the company's stock valued at $91,000 after buying an additional 955 shares during the period. 96.68% of the stock is currently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.