Dyne Therapeutics, Inc. (NASDAQ:DYN) Receives Consensus Rating of "Buy" from Brokerages

Dyne Therapeutics, Inc. (NASDAQ:DYN - Get Free Report) has been assigned an average recommendation of "Buy" from the eight research firms that are covering the stock, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $37.75.

A number of brokerages have commented on DYN. HC Wainwright reiterated a "buy" rating and set a $36.00 price target on shares of Dyne Therapeutics in a research report on Friday, May 3rd. Stifel Nicolaus upped their price target on shares of Dyne Therapeutics from $35.00 to $41.00 and gave the company a "buy" rating in a research report on Wednesday, March 6th. Oppenheimer reiterated an "outperform" rating and issued a $47.00 price objective on shares of Dyne Therapeutics in a report on Monday, May 6th. Chardan Capital restated a "buy" rating and set a $31.00 target price on shares of Dyne Therapeutics in a report on Monday, May 6th. Finally, Piper Sandler lifted their price target on Dyne Therapeutics from $27.00 to $29.00 and gave the stock an "overweight" rating in a research note on Wednesday, March 6th.

Dyne Therapeutics Trading Down 3.7 %

Shares of Dyne Therapeutics stock traded down $1.07 on Friday, hitting $27.68. 1,318,232 shares of the company traded hands, compared to its average volume of 793,466. Dyne Therapeutics has a 12-month low of $6.40 and a 12-month high of $30.27. The firm's 50-day simple moving average is $26.58 and its 200 day simple moving average is $19.98. The company has a market cap of $2.42 billion, a P/E ratio of -6.97 and a beta of 1.00.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.81) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.81). Analysts predict that Dyne Therapeutics will post -3.1 earnings per share for the current year.

Insider Activity

In other news, Director Jason P. Rhodes sold 169,539 shares of the firm's stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $22.72, for a total value of $3,851,926.08. Following the completion of the transaction, the director now owns 6,815,965 shares in the company, valued at approximately $154,858,724.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Dyne Therapeutics news, Director Jason P. Rhodes sold 169,539 shares of the company's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $22.72, for a total value of $3,851,926.08. Following the sale, the director now owns 6,815,965 shares in the company, valued at $154,858,724.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jason P. Rhodes sold 248,219 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $23.72, for a total transaction of $5,887,754.68. Following the transaction, the director now directly owns 903,527 shares of the company's stock, valued at approximately $21,431,660.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,537,357 shares of company stock valued at $36,442,642. Corporate insiders own 20.77% of the company's stock.

Hedge Funds Weigh In On Dyne Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Wetzel Investment Advisors Inc. bought a new stake in Dyne Therapeutics in the 1st quarter worth about $28,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Dyne Therapeutics by 58.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,379 shares of the company's stock valued at $75,000 after purchasing an additional 3,092 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Dyne Therapeutics by 95.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,310 shares of the company's stock worth $83,000 after purchasing an additional 4,552 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its position in Dyne Therapeutics by 355.6% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,099 shares of the company's stock worth $94,000 after purchasing an additional 5,541 shares during the period. Finally, Principal Financial Group Inc. raised its stake in Dyne Therapeutics by 10.7% during the 3rd quarter. Principal Financial Group Inc. now owns 15,229 shares of the company's stock valued at $136,000 after buying an additional 1,476 shares during the last quarter. 96.68% of the stock is currently owned by 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.