Dyne Therapeutics (NASDAQ:DYN) Coverage Initiated at Royal Bank of Canada

Royal Bank of Canada initiated coverage on shares of Dyne Therapeutics (NASDAQ:DYN) in a research report report published on Tuesday morning, Marketbeat.com reports. The firm issued an outperform rating and a $45.00 price objective on the stock.

A number of other analysts also recently weighed in on DYN. HC Wainwright reissued a “buy” rating and set a $55.00 price target on shares of Dyne Therapeutics in a research report on Wednesday, November 13th. Piper Sandler reissued an “overweight” rating and issued a $53.00 target price on shares of Dyne Therapeutics in a research report on Monday, September 23rd. StockNews.com cut shares of Dyne Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, September 16th. Stifel Nicolaus upped their price objective on Dyne Therapeutics from $41.00 to $66.00 and gave the company a “buy” rating in a research note on Friday, August 16th. Finally, Chardan Capital reaffirmed a “buy” rating and set a $50.00 target price on shares of Dyne Therapeutics in a report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.82.

Dyne Therapeutics Price Performance

Shares of DYN stock opened at $29.23 on Tuesday. The company’s fifty day moving average price is $32.06 and its two-hundred day moving average price is $35.40. The firm has a market capitalization of $2.97 billion, a P/E ratio of -8.21 and a beta of 1.10. Dyne Therapeutics has a 12 month low of $10.12 and a 12 month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.96) EPS for the quarter, missing the consensus estimate of ($0.71) by ($0.25). On average, sell-side analysts anticipate that Dyne Therapeutics will post -3.45 EPS for the current year.

Insider Buying and Selling

In other news, Director Dirk Kersten sold 79,411 shares of Dyne Therapeutics stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $36.45, for a total transaction of $2,894,530.95. Following the sale, the director now owns 234,127 shares of the company’s stock, valued at approximately $8,533,929.15. The trade was a 25.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John Cox acquired 32,000 shares of Dyne Therapeutics stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average price of $33.04 per share, with a total value of $1,057,280.00. Following the completion of the transaction, the chief executive officer now owns 8,000 shares of the company’s stock, valued at approximately $264,320. This trade represents a -133.33 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 176,257 shares of company stock worth $6,193,718 in the last three months. 20.77% of the stock is owned by insiders.

Institutional Trading of Dyne Therapeutics

Several hedge funds have recently added to or reduced their stakes in the business. RA Capital Management L.P. bought a new position in shares of Dyne Therapeutics in the first quarter worth $140,666,000. FMR LLC lifted its holdings in Dyne Therapeutics by 69.7% in the third quarter. FMR LLC now owns 9,026,697 shares of the company’s stock worth $324,239,000 after purchasing an additional 3,707,734 shares during the period. Janus Henderson Group PLC grew its position in Dyne Therapeutics by 47.3% in the 3rd quarter. Janus Henderson Group PLC now owns 6,813,163 shares of the company’s stock valued at $244,755,000 after buying an additional 2,189,339 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Dyne Therapeutics by 8,284.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,132,092 shares of the company’s stock valued at $32,141,000 after buying an additional 1,118,590 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Dyne Therapeutics by 47.7% during the 1st quarter. Vanguard Group Inc. now owns 3,440,270 shares of the company’s stock worth $97,669,000 after buying an additional 1,110,629 shares in the last quarter. Institutional investors own 96.68% of the company’s stock.

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.