Dyne Therapeutics (NASDAQ:DYN) Shares Gap Up on Analyst Upgrade

Key Points

• Dyne Therapeutics' stock price surged from $12.58 to $13.55 following a strong-buy upgrade from Raymond James Financial, who set a price target of $35.00.
• The company CEO, John Cox, increased his stake by purchasing 100,000 shares at $9.11 each, representing a 70.33% increase in his ownership.
• Overall, Dyne Therapeutics has received favorable ratings from various analysts, with a consensus target price of $34.07 and a majority rating of "buy."

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) gapped up before the market opened on Monday after Raymond James Financial upgraded the stock from an outperform rating to a strong-buy rating. The stock had previously closed at $12.58, but opened at $13.55. Raymond James Financial now has a $35.00 price target on the stock. Dyne Therapeutics shares last traded at $13.51, with a volume of 680,184 shares changing hands.

A number of other equities research analysts have also weighed in on the stock. Guggenheim restated a "buy" rating and issued a $50.00 target price on shares of Dyne Therapeutics in a report on Wednesday, June 18th. Evercore ISI reiterated an "outperform" rating on shares of Dyne Therapeutics in a research note on Friday, July 11th. JPMorgan Chase & Co. decreased their price objective on shares of Dyne Therapeutics from $10.00 to $9.00 and set a "neutral" rating for the company in a research note on Tuesday, July 15th. Robert W. Baird decreased their price objective on shares of Dyne Therapeutics from $46.00 to $32.00 and set an "outperform" rating for the company in a research note on Wednesday, June 18th. Finally, Royal Bank Of Canada decreased their price objective on shares of Dyne Therapeutics from $25.00 to $23.00 and set an "outperform" rating for the company in a research note on Tuesday, July 29th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $34.07.

Insider Buying and Selling

In other news, CEO John Cox bought 100,000 shares of the stock in a transaction on Monday, July 14th. The shares were acquired at an average cost 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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 20.77% of the company's stock.

Institutional Trading of Dyne Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of DYN. Ameritas Investment Partners Inc. raised its position in shares of Dyne Therapeutics by 11.1% during 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 in the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of Dyne Therapeutics by 5.2% during the 1st 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 in the last quarter. Arizona State Retirement System raised its position in shares of Dyne Therapeutics by 9.2% during the 1st quarter. Arizona State Retirement System now owns 17,501 shares of the company's stock valued at $183,000 after buying an additional 1,481 shares in the last quarter. Caxton Associates LLP raised its position in shares of Dyne Therapeutics by 10.9% during the 2nd quarter. Caxton Associates LLP now owns 16,599 shares of the company's stock valued at $158,000 after buying an additional 1,627 shares in the last quarter. Finally, CWM LLC raised its position in shares of Dyne Therapeutics by 168.1% during 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 in the last quarter. 96.68% of the stock is currently owned by hedge funds and other institutional investors.

Dyne Therapeutics Stock Performance

The company's 50-day moving average price is $10.23 and its two-hundred day moving average price is $11.16. The company has a debt-to-equity ratio of 0.17, a quick ratio of 16.83 and a current ratio of 16.83. The stock has a market cap of $1.93 billion, a PE ratio of -3.49 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) EPS for the quarter, topping analysts' consensus estimates of ($0.99) by $0.02. On average, equities research analysts forecast that Dyne Therapeutics, Inc. will post -3.44 EPS for the current year.

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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