Dyne Therapeutics’ (DYN) Buy Rating Reiterated at Chardan Capital

Chardan Capital reaffirmed their buy rating on shares of Dyne Therapeutics (NASDAQ:DYN) in a research note issued to investors on Wednesday,Benzinga reports. Chardan Capital currently has a $38.00 price objective on the stock.

Several other equities research analysts have also weighed in on DYN. Morgan Stanley lowered their target price on shares of Dyne Therapeutics from $45.00 to $36.00 and set an “overweight” rating on the stock in a report on Wednesday, September 9th. Jefferies Financial Group reissued a “buy” rating and set a $50.00 price target on shares of Dyne Therapeutics in a report on Wednesday. Raymond James Financial reaffirmed a “strong-buy” rating and set a $37.00 price objective on shares of Dyne Therapeutics in a research note on Tuesday, September 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Dyne Therapeutics in a research note on Friday, July 17th. Finally, Wall Street Zen downgraded Dyne Therapeutics from a “sell” rating to a “strong sell” rating in a report on Saturday, August 1st. Two research analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $33.07.

Dyne Therapeutics Price Performance

Shares of DYN stock opened at $15.20 on Wednesday. The stock’s fifty day simple moving average is $22.52 and its 200 day simple moving average is $20.55. The company has a debt-to-equity ratio of 0.28, a current ratio of 12.02 and a quick ratio of 12.02. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of -4.56 and a beta of 1.12. Dyne Therapeutics has a one year low of $12.43 and a one year high of $27.31.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings data on Wednesday, July 29th. The company reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.75) by ($0.33). On average, analysts expect that Dyne Therapeutics will post -3.59 earnings per share for the current fiscal year.

Insider Buying and Selling at Dyne Therapeutics

In other Dyne Therapeutics news, Director Jason Rhodes sold 2,160,516 shares of Dyne Therapeutics stock in a transaction on Friday, August 14th. The shares were sold at an average price of $25.00, for a total transaction of $54,012,900.00. Following the completion of the sale, the director owned 428,946 shares of the company’s stock, valued at approximately $10,723,650. The trade was a 83.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Cox sold 5,658 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $18.88, for a total value of $106,823.04. Following the transaction, the chief executive officer owned 357,507 shares in the company, valued at approximately $6,749,732.16. This trade represents a 1.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 3,376,157 shares of company stock valued at $83,290,469. 9.46% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new stake in Dyne Therapeutics during the 2nd quarter worth approximately $275,500,000. Jupiter Topco LLC bought a new stake in shares of Dyne Therapeutics during the second quarter worth $266,634,000. Perceptive Advisors LLC increased its position in shares of Dyne Therapeutics by 34.2% during the first quarter. Perceptive Advisors LLC now owns 4,668,839 shares of the company’s stock worth $84,646,000 after acquiring an additional 1,189,895 shares in the last quarter. Armistice Capital LLC raised its holdings in shares of Dyne Therapeutics by 6.1% during the fourth quarter. Armistice Capital LLC now owns 3,249,708 shares of the company’s stock worth $63,564,000 after acquiring an additional 185,708 shares during the period. Finally, Frazier Life Sciences Management L.P. raised its holdings in shares of Dyne Therapeutics by 16.0% during the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,153,082 shares of the company’s stock worth $61,674,000 after acquiring an additional 434,977 shares during the period. 96.68% of the stock is currently owned by institutional investors and hedge funds.

About Dyne Therapeutics

Dyne Therapeutics, Inc is a clinical-stage biopharmaceutical company focused on developing genetic medicines for serious neuromuscular diseases. The company’s research is centered on its FORCE platform, which is designed to use targeted antibodies to deliver oligonucleotide-based therapies to skeletal muscle and other relevant tissues.

Dyne’s development programs include DYNE-101, an investigational therapy for myotonic dystrophy type 1, and DYNE-251, an investigational exon-skipping therapy for Duchenne muscular dystrophy in patients amenable to exon 51 skipping.