HC Wainwright Reaffirms "Buy" Rating for Dyne Therapeutics (NASDAQ:DYN)

Dyne Therapeutics (NASDAQ:DYN - Get Free Report)'s stock had its "buy" rating restated by stock analysts at HC Wainwright in a research report issued to clients and investors on Friday, Benzinga reports. They currently have a $36.00 price target on the stock. HC Wainwright's price objective indicates a potential upside of 38.04% from the company's previous close.

DYN has been the subject of a number of other research reports. Oppenheimer restated an "outperform" rating and issued a $47.00 price objective on shares of Dyne Therapeutics in a research report on Tuesday, March 26th. Piper Sandler upped their price objective on shares of Dyne Therapeutics from $27.00 to $29.00 and gave the company an "overweight" rating in a research report on Wednesday, March 6th. Morgan Stanley began coverage on Dyne Therapeutics in a report on Tuesday. They set an "overweight" rating and a $40.00 target price for the company. Stifel Nicolaus increased their target price on Dyne Therapeutics from $35.00 to $41.00 and gave the stock a "buy" rating in a report on Wednesday, March 6th. Finally, Chardan Capital increased their target price on Dyne Therapeutics from $20.00 to $31.00 and gave the stock a "buy" rating in a report on Friday, March 8th. One research analyst has rated the stock with a sell rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $37.75.

Dyne Therapeutics Price Performance

Shares of Dyne Therapeutics stock traded up $0.08 on Friday, hitting $26.08. 761,928 shares of the company's stock traded hands, compared to its average volume of 1,882,175. The firm's 50-day moving average price is $26.34 and its two-hundred day moving average price is $18.29. The stock has a market capitalization of $2.25 billion, a PE ratio of -6.62 and a beta of 1.00. Dyne Therapeutics has a one year low of $6.40 and a one year high of $30.27.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last issued its earnings results on Tuesday, March 5th. The company reported ($1.09) EPS for the quarter, missing the consensus estimate of ($0.92) by ($0.17). On average, analysts forecast that Dyne Therapeutics will post -3.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Dyne Therapeutics news, insider Wildon Farwell sold 1,585 shares of the firm's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $25.70, for a total transaction of $40,734.50. Following the completion of the sale, the insider now directly owns 151,590 shares in the company, valued at $3,895,863. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Jason P. Rhodes sold 177,906 shares of the firm's stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $23.89, for a total transaction of $4,250,174.34. Following the transaction, the director now directly owns 7,148,211 shares of the company's stock, valued at $170,770,760.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Wildon Farwell sold 1,585 shares of the firm's stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $25.70, for a total transaction of $40,734.50. Following the transaction, the insider now directly owns 151,590 shares in the company, valued at $3,895,863. The disclosure for this sale can be found here. Insiders sold 1,875,432 shares of company stock worth $44,368,530 over the last three months. Insiders own 20.77% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Wetzel Investment Advisors Inc. bought a new position in Dyne Therapeutics in the first quarter valued at approximately $28,000. China Universal Asset Management Co. Ltd. increased its stake in Dyne Therapeutics by 355.6% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,099 shares of the company's stock valued at $94,000 after acquiring an additional 5,541 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Dyne Therapeutics by 58.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,379 shares of the company's stock valued at $75,000 after acquiring an additional 3,092 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake 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 valued at $83,000 after acquiring an additional 4,552 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in Dyne Therapeutics in the fourth quarter valued at approximately $172,000. 96.68% of the stock is owned by institutional investors.

About Dyne Therapeutics

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.