Dyne Therapeutics (NASDAQ:DYN) Receives “Outperform” Rating from Oppenheimer

Oppenheimer reiterated their outperform rating on shares of Dyne Therapeutics (NASDAQ:DYN) in a report published on Monday morning, Benzinga reports. They currently have a $47.00 price target on the stock.

DYN has been the topic of a number of other reports. Piper Sandler increased their price target on shares of Dyne Therapeutics from $27.00 to $29.00 and gave the stock an overweight rating in a report on Wednesday, March 6th. Stifel Nicolaus increased their target price on shares of Dyne Therapeutics from $35.00 to $41.00 and gave the stock a buy rating in a research note on Wednesday, March 6th. HC Wainwright reaffirmed a buy rating and issued a $36.00 price target on shares of Dyne Therapeutics in a report on Friday, May 3rd. Morgan Stanley started coverage on Dyne Therapeutics in a research report on Tuesday, April 30th. They issued an overweight rating and a $40.00 price objective on the stock. Finally, Chardan Capital restated a buy rating and set a $31.00 target price on shares of Dyne Therapeutics in a research report on Monday. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Dyne Therapeutics has a consensus rating of Moderate Buy and a consensus price target of $37.75.

Dyne Therapeutics Trading Up 0.2 %

Dyne Therapeutics stock opened at $25.69 on Monday. The firm has a 50 day simple moving average of $26.49 and a 200 day simple moving average of $18.88. Dyne Therapeutics has a 1-year low of $6.40 and a 1-year high of $30.27. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of -6.47 and a beta of 1.00.

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

Insiders Place Their Bets

In other news, Director Jason P. Rhodes sold 177,906 shares of the stock in a transaction dated Thursday, February 15th. The stock was 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 in the company, valued at approximately $170,770,760.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Wildon Farwell sold 5,493 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $25.07, for a total transaction of $137,709.51. Following the transaction, the insider now directly owns 163,503 shares of the company’s stock, valued at $4,099,020.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jason P. Rhodes sold 177,906 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $23.89, for a total value of $4,250,174.34. Following the completion of the sale, the director now directly owns 7,148,211 shares of the company’s stock, valued at approximately $170,770,760.79. The disclosure for this sale can be found here. Insiders sold a total of 1,875,432 shares of company stock valued at $44,368,530 over the last 90 days. 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 company. Fcpm Iii Services B.V. purchased a new position in shares of Dyne Therapeutics in the fourth quarter valued at about $81,543,000. Braidwell LP raised its position in Dyne Therapeutics by 32.2% during the 3rd quarter. Braidwell LP now owns 1,821,972 shares of the company’s stock valued at $16,325,000 after purchasing an additional 444,100 shares during the last quarter. Vivo Capital LLC lifted its holdings in Dyne Therapeutics by 58.0% in the 1st quarter. Vivo Capital LLC now owns 1,635,136 shares of the company’s stock worth $46,422,000 after buying an additional 600,000 shares during the period. Jennison Associates LLC grew its position in shares of Dyne Therapeutics by 495.2% in the 1st quarter. Jennison Associates LLC now owns 1,207,551 shares of the company’s stock worth $34,282,000 after buying an additional 1,004,680 shares during the last quarter. Finally, Armistice Capital LLC raised its holdings in shares of Dyne Therapeutics by 31.6% during the third quarter. Armistice Capital LLC now owns 1,200,000 shares of the company’s stock valued at $10,752,000 after acquiring an additional 288,000 shares in the last quarter. 96.68% of the stock is owned by hedge funds and other 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.