Morgan Stanley Begins Coverage on Dyne Therapeutics (NASDAQ:DYN)

Morgan Stanley began coverage on shares of Dyne Therapeutics (NASDAQ:DYN - Free Report) in a report released on Tuesday morning, MarketBeat.com reports. The firm issued an overweight rating and a $40.00 price objective on the stock.

Other equities analysts have also recently issued reports about the stock. HC Wainwright reissued a buy rating and issued a $36.00 price objective on shares of Dyne Therapeutics in a research report on Wednesday, March 6th. Chardan Capital upped their target price on shares of Dyne Therapeutics from $20.00 to $31.00 and gave the company a buy rating in a research note on Friday, March 8th. Raymond James upped their target price on shares of Dyne Therapeutics from $27.00 to $56.00 and gave the company a strong-buy rating in a research note on Thursday, January 4th. Stifel Nicolaus upped their target price on shares of Dyne Therapeutics from $35.00 to $41.00 and gave the company a buy rating in a research note on Wednesday, March 6th. Finally, Piper Sandler upped their target price on shares of Dyne Therapeutics from $27.00 to $29.00 and gave the company an overweight rating in a research note on Wednesday, March 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Dyne Therapeutics has a consensus rating of Moderate Buy and a consensus target price of $37.75.

Dyne Therapeutics Stock Performance

Dyne Therapeutics stock traded down $0.15 during trading on Tuesday, reaching $25.31. 584,708 shares of the company's stock were exchanged, compared to its average volume of 1,913,446. The company's 50-day moving average is $26.15 and its two-hundred day moving average is $18.06. Dyne Therapeutics has a 52-week low of $6.40 and a 52-week high of $30.27. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of -6.42 and a beta of 0.95.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($1.09) earnings per share for the quarter, missing analysts' consensus estimates of ($0.92) by ($0.17). Analysts anticipate that Dyne Therapeutics will post -3.25 EPS for the current year.

Insider Buying and Selling

In related news, Director Jason P. Rhodes sold 248,219 shares of the stock in a transaction dated 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 sale, the director now owns 903,527 shares in the company, valued at $21,431,660.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Dyne Therapeutics news, CEO Joshua T. Brumm sold 5,520 shares of the firm's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $27.50, for a total value of $151,800.00. Following the sale, the chief executive officer now owns 563,471 shares in the company, valued at $15,495,452.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 completion of the sale, the director now owns 903,527 shares in the company, valued at approximately $21,431,660.44. The disclosure for this sale can be found here. Insiders have sold a total of 1,875,432 shares of company stock worth $44,368,530 over the last quarter. 20.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dyne Therapeutics

Large investors have recently made changes to their positions in the company. Fcpm Iii Services B.V. bought a new position in shares of Dyne Therapeutics in the fourth quarter valued at approximately $81,543,000. Frazier Life Sciences Management L.P. bought a new position in shares of Dyne Therapeutics in the fourth quarter valued at approximately $15,758,000. Commodore Capital LP bought a new position in shares of Dyne Therapeutics in the fourth quarter valued at approximately $11,970,000. Vivo Capital LLC boosted its holdings in shares of Dyne Therapeutics by 58.0% in the first quarter. Vivo Capital LLC now owns 1,635,136 shares of the company's stock valued at $46,422,000 after acquiring an additional 600,000 shares in the last quarter. Finally, Braidwell LP boosted its holdings in shares of Dyne Therapeutics by 32.2% in the third quarter. Braidwell LP now owns 1,821,972 shares of the company's stock valued at $16,325,000 after acquiring an additional 444,100 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.