Oppenheimer Cuts Dyne Therapeutics (NASDAQ:DYN) Price Target to $13.00

Key Points

• Oppenheimer has reduced its price target for Dyne Therapeutics from $34.00 to $13.00, while maintaining an "outperform" rating, indicating a potential upside of 24.16% from the current price.
• Multiple analysts have adjusted their targets for Dyne Therapeutics, with Guggenheim setting a target at $50.00 and others reducing theirs significantly, reflecting varying levels of confidence in the stock.
• Dyne Therapeutics’ CEO, John Cox, notably purchased 100,000 shares at an average price of $9.11 per share, increasing his ownership significantly, which may signal confidence in the company's future prospects.

Dyne Therapeutics (NASDAQ:DYN - Free Report) had its price target cut by Oppenheimer from $34.00 to $13.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts also recently issued reports on DYN. JPMorgan Chase & Co. cut their price objective on Dyne Therapeutics from $10.00 to $9.00 and set a "neutral" rating on the stock in a report on Tuesday, July 15th. Raymond James Financial restated an "outperform" rating and issued a $31.00 price target (down previously from $37.00) on shares of Dyne Therapeutics in a research report on Tuesday, July 29th. HC Wainwright reduced their target price on Dyne Therapeutics from $46.00 to $38.00 and set a "buy" rating for the company in a report on Friday, May 9th. Jones Trading initiated coverage on Dyne Therapeutics in a report on Thursday, June 26th. They set a "buy" rating and a $30.00 price target on the stock. Finally, Chardan Capital reduced their price objective on Dyne Therapeutics from $50.00 to $38.00 and set a "buy" rating for the company in a research note on Tuesday, July 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $34.94.

Dyne Therapeutics Stock Performance

Shares of NASDAQ DYN traded down $0.03 during midday trading on Wednesday, hitting $11.16. 2,348,125 shares of the company's stock were exchanged, compared to its average volume of 3,209,396. Dyne Therapeutics has a twelve month low of $6.36 and a twelve month high of $47.45. The company has a debt-to-equity ratio of 0.17, a current ratio of 16.83 and a quick ratio of 16.83. The firm has a market cap of $1.59 billion, a P/E ratio of -2.89 and a beta of 1.08. The stock's 50 day moving average price is $10.62 and its 200-day moving average price is $11.34.

Dyne Therapeutics (NASDAQ:DYN - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The company reported ($0.97) earnings per share for the quarter, topping analysts' consensus estimates of ($0.99) by $0.02. Equities research analysts anticipate that Dyne Therapeutics will post -3.44 EPS for the current year.

Insider Buying and Selling at Dyne Therapeutics

In other news, CEO John Cox acquired 100,000 shares of Dyne Therapeutics stock in a transaction on Monday, July 14th. The stock was purchased at an average price of $9.11 per share, with a total value of $911,000.00. Following the completion of the purchase, the chief executive officer owned 242,179 shares of the company's stock, valued at approximately $2,206,250.69. The trade was a 70.33% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 14.14% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Dyne Therapeutics

Hedge funds have recently made changes to their positions in the business. RA Capital Management L.P. raised its stake in Dyne Therapeutics by 52.2% in the first quarter. RA Capital Management L.P. now owns 9,714,392 shares of the company's stock valued at $101,613,000 after purchasing an additional 3,333,248 shares in the last quarter. Braidwell LP increased its stake in shares of Dyne Therapeutics by 431.6% during the first quarter. Braidwell LP now owns 3,621,344 shares of the company's stock valued at $37,879,000 after buying an additional 2,940,162 shares during the period. Armistice Capital LLC grew its stake in Dyne Therapeutics by 187.0% in the first quarter. Armistice Capital LLC now owns 2,768,000 shares of the company's stock worth $28,953,000 after purchasing an additional 1,803,482 shares during the period. Jefferies Financial Group Inc. bought a new stake in Dyne Therapeutics in the fourth quarter worth $42,408,000. Finally, Vestal Point Capital LP purchased a new position in Dyne Therapeutics in the 1st quarter worth approximately $18,828,000. 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.