Chardan Capital Reiterates “Buy” Rating for Dyne Therapeutics (NASDAQ:DYN)

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “buy” rating restated by investment analysts at Chardan Capital in a research report issued on Monday,Benzinga reports. They currently have a $50.00 price target on the stock. Chardan Capital’s price target indicates a potential upside of 309.10% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada reissued an “outperform” rating and set a $45.00 price objective on shares of Dyne Therapeutics in a research report on Tuesday, January 14th. Scotiabank began coverage on shares of Dyne Therapeutics in a report on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 target price on the stock. Guggenheim reaffirmed a “buy” rating on shares of Dyne Therapeutics in a report on Friday, January 24th. HC Wainwright reduced their price objective on shares of Dyne Therapeutics from $55.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Finally, Raymond James upgraded shares of Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.85.

Dyne Therapeutics Stock Up 1.4 %

Dyne Therapeutics stock traded up $0.17 during mid-day trading on Monday, reaching $12.22. 489,033 shares of the company’s stock were exchanged, compared to its average volume of 1,327,855. Dyne Therapeutics has a twelve month low of $11.18 and a twelve month high of $47.45. The company has a fifty day moving average of $14.58 and a 200-day moving average of $25.13. The company has a market cap of $1.38 billion, a P/E ratio of -3.42 and a beta of 1.11.

Dyne Therapeutics (NASDAQ:DYN) last posted its earnings results on Tuesday, March 4th. The company reported ($0.88) EPS for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.04. Equities research analysts expect that Dyne Therapeutics will post -3.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Oxana Beskrovnaya sold 2,598 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total transaction of $36,242.10. Following the completion of the transaction, the insider now owns 199,087 shares in the company, valued at approximately $2,777,263.65. This represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 6,237 shares of company stock worth $77,760 over the last ninety days. 20.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On Dyne Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of DYN. FMR LLC increased 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 buying an additional 3,707,734 shares during the last quarter. Janus Henderson Group PLC raised its position in Dyne Therapeutics by 8.3% during the fourth quarter. Janus Henderson Group PLC now owns 7,379,309 shares of the company’s stock valued at $173,808,000 after acquiring an additional 566,146 shares in the last quarter. RTW Investments LP raised its position in Dyne Therapeutics by 6.8% during the third quarter. RTW Investments LP now owns 6,818,641 shares of the company’s stock valued at $244,926,000 after acquiring an additional 431,503 shares in the last quarter. RA Capital Management L.P. raised its position in shares of Dyne Therapeutics by 5.5% in the third quarter. RA Capital Management L.P. now owns 6,381,144 shares of the company’s stock valued at $229,211,000 after purchasing an additional 331,940 shares during the period. Finally, State Street Corp raised its position in shares of Dyne Therapeutics by 13.8% in the third quarter. State Street Corp now owns 3,641,859 shares of the company’s stock valued at $130,816,000 after purchasing an additional 440,890 shares during the period. 96.68% of the stock is 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.