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

Morgan Stanley started coverage on shares of Dyne Therapeutics (NASDAQ:DYN) in a report released on Tuesday, Briefing.com reports. The firm set an “overweight” rating and a $40.00 price target on the stock. Morgan Stanley’s price target indicates a potential upside of 57.11% from the company’s previous close.

A number of other research firms also recently weighed in on DYN. Chardan Capital raised their price target on shares of Dyne Therapeutics from $20.00 to $31.00 and gave the company a “buy” rating in a report on Friday, March 8th. Oppenheimer restated an “outperform” rating and set a $47.00 price target on shares of Dyne Therapeutics in a report on Tuesday, March 26th. Stifel Nicolaus raised their price target on shares of Dyne Therapeutics from $35.00 to $41.00 and gave the company a “buy” rating in a report on Wednesday, March 6th. Raymond James raised their price target on shares of Dyne Therapeutics from $27.00 to $56.00 and gave the company a “strong-buy” rating in a report on Thursday, January 4th. Finally, HC Wainwright restated a “buy” rating and set a $36.00 price target on shares of Dyne Therapeutics in a report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Dyne Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $37.75.

Dyne Therapeutics Stock Up 3.0 %

DYN stock opened at $25.46 on Tuesday. Dyne Therapeutics has a 12-month low of $6.40 and a 12-month high of $30.27. The company has a market cap of $2.19 billion, a price-to-earnings ratio of -6.46 and a beta of 0.95. The company has a 50 day moving average of $26.15 and a two-hundred day moving average of $18.06.

Dyne Therapeutics (NASDAQ:DYN) last released 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). On average, research analysts anticipate that Dyne Therapeutics will post -3.25 EPS for the current year.

Insider Activity at Dyne Therapeutics

In other Dyne Therapeutics news, CEO Joshua T. Brumm sold 5,520 shares of the firm’s stock in a transaction 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 directly owns 563,471 shares in the company, valued at approximately $15,495,452.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Dyne Therapeutics news, CEO Joshua T. Brumm sold 5,520 shares of the firm’s stock in a transaction 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 directly owns 563,471 shares in the company, valued at approximately $15,495,452.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Wildon Farwell sold 1,585 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 151,590 shares in the company, valued at $3,895,863. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,875,432 shares of company stock worth $44,368,530. 20.77% of the stock is owned by insiders.

Institutional Trading of Dyne Therapeutics

Several institutional investors have recently made changes to their positions in DYN. Raymond James & Associates boosted its position in shares of Dyne Therapeutics by 22.6% during the 3rd quarter. Raymond James & Associates now owns 88,238 shares of the company’s stock valued at $791,000 after acquiring an additional 16,240 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Dyne Therapeutics by 4.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 157,443 shares of the company’s stock valued at $1,411,000 after acquiring an additional 7,196 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Dyne Therapeutics by 58.5% during the 3rd 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 in the last quarter. TD Asset Management Inc acquired a new stake in shares of Dyne Therapeutics during the 3rd quarter valued at about $206,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Dyne Therapeutics by 95.7% during the 3rd 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 in the last quarter. 96.68% of the stock is currently owned by institutional investors and hedge funds.

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.