Dyne Therapeutics (NASDAQ:DYN) Price Target Cut to $32.00 by Analysts at HC Wainwright

Dyne Therapeutics (NASDAQ:DYN) had its target price lowered by equities research analysts at HC Wainwright from $50.00 to $32.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. HC Wainwright’s price objective indicates a potential upside of 97.41% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. TD Cowen assumed coverage on shares of Dyne Therapeutics in a research report on Friday, June 26th. They set a “buy” rating for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Dyne Therapeutics in a research note on Friday, July 17th. Morgan Stanley reduced their price target on Dyne Therapeutics from $45.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 9th. 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. Finally, Piper Sandler restated an “overweight” rating and set a $47.00 target price on shares of Dyne Therapeutics in a report on Tuesday. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.92.

Dyne Therapeutics Trading Down 0.8%

Shares of DYN opened at $16.21 on Wednesday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 12.02 and a current ratio of 12.02. The company has a market cap of $3.03 billion, a price-to-earnings ratio of -4.87 and a beta of 1.08. The stock has a fifty day moving average price of $23.01 and a two-hundred day moving average price of $20.61. Dyne Therapeutics has a 52-week low of $12.26 and a 52-week high of $27.31.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings data on Wednesday, July 29th. The company reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.33). Analysts predict that Dyne Therapeutics will post -3.59 EPS for the current fiscal year.

Insider Buying and Selling at Dyne Therapeutics

In other Dyne Therapeutics news, insider Douglas Kerr sold 3,745 shares of Dyne Therapeutics stock in a transaction on Friday, September 4th. The shares were sold at an average price of $24.35, for a total value of $91,190.75. Following the sale, the insider directly owned 163,854 shares in the company, valued at approximately $3,989,844.90. The trade was a 2.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jason P. Rhodes sold 2,160,516 shares of the stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $25.00, for a total transaction of $54,012,900.00. Following the transaction, the director owned 428,946 shares of the company’s stock, valued at approximately $10,723,650. This represents a 83.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 3,376,157 shares of company stock worth $83,290,469. Corporate insiders own 9.46% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC acquired a new position in shares of Dyne Therapeutics during the 2nd quarter worth approximately $300,000. Nykredit A S acquired a new stake in shares of Dyne Therapeutics in the 2nd quarter valued at approximately $113,000. Moore Capital Management LP grew its stake in shares of Dyne Therapeutics by 288.2% in the second quarter. Moore Capital Management LP now owns 305,794 shares of the company’s stock valued at $6,792,000 after buying an additional 227,029 shares in the last quarter. Two Sigma Securities LLC bought a new position in shares of Dyne Therapeutics in the second quarter valued at $222,000. Finally, Alyeska Investment Group L.P. acquired a new position in Dyne Therapeutics during the second quarter worth $5,448,000. 96.68% of the stock is currently owned by institutional investors.

About Dyne Therapeutics

Dyne Therapeutics, Inc is a biotechnology company focused on developing treatments for genetically driven muscle diseases. The company uses its FORCE platform, which is designed to deliver oligonucleotide therapeutics to skeletal muscle and other tissues by combining muscle-targeting antibodies with genetic medicines.

Dyne’s research and development programs are aimed at conditions in which the underlying genetic mutations impair muscle function. Its pipeline has included DYNE-101 for myotonic dystrophy type 1 and DYNE-251 for Duchenne muscular dystrophy in patients with mutations amenable to exon 51 skipping.