Dyne Therapeutics, Inc. (NASDAQ:DYN) Receives $34.17 Average PT from Analysts

Dyne Therapeutics, Inc. (NASDAQ:DYN) has been given a consensus recommendation of “Moderate Buy” by the fourteen ratings firms that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, nine have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $34.1667.

Several research analysts recently issued reports on the stock. TD Cowen initiated coverage on shares of Dyne Therapeutics in a research note on Friday, June 26th. They issued a “buy” rating for the company. Wall Street Zen raised shares of Dyne Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Monday. Weiss Ratings restated a “sell (d-)” rating on shares of Dyne Therapeutics in a report on Monday, April 20th. Evercore set a $33.00 target price on shares of Dyne Therapeutics in a research note on Friday, May 15th. Finally, Sanford C. Bernstein raised their target price on shares of Dyne Therapeutics from $23.00 to $24.00 and gave the company a “market perform” rating in a research note on Wednesday, May 13th.

Dyne Therapeutics Trading Up 1.8%

NASDAQ DYN opened at $24.27 on Friday. The firm has a market cap of $4.01 billion, a PE ratio of -7.54 and a beta of 1.06. The company has a current ratio of 19.92, a quick ratio of 19.92 and a debt-to-equity ratio of 0.17. The stock has a 50-day moving average of $19.12 and a 200-day moving average of $18.31. Dyne Therapeutics has a 1-year low of $8.24 and a 1-year high of $25.00.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.73) earnings per share for the quarter, topping the consensus estimate of ($0.77) by $0.04. During the same period in the previous year, the firm posted ($1.05) earnings per share. As a group, sell-side analysts forecast that Dyne Therapeutics will post -3.02 EPS for the current year.

Insider Buying and Selling

In related news, Director Brian S. Posner bought 2,000 shares of the business’s stock in a transaction dated Monday, June 8th. The shares were purchased at an average cost of $16.94 per share, with a total value of $33,880.00. Following the completion of the purchase, the director owned 24,500 shares in the company, valued at approximately $415,030. The trade was a 8.89% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Erick Lucera sold 2,362 shares of the stock in a transaction on Thursday, June 25th. The stock was sold at an average price of $20.37, for a total value of $48,113.94. Following the completion of the sale, the chief financial officer directly owned 121,563 shares in the company, valued at approximately $2,476,238.31. This represents a 1.91% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have purchased 9,000 shares of company stock worth $156,800 and have sold 3,111,730 shares worth $64,079,704. 9.46% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Hedge funds have recently bought and sold shares of the company. Perceptive Advisors LLC grew its position in Dyne Therapeutics by 34.2% during the 1st quarter. Perceptive Advisors LLC now owns 4,668,839 shares of the company’s stock valued at $84,646,000 after purchasing an additional 1,189,895 shares during the last quarter. Bank of America Corp DE raised its holdings in Dyne Therapeutics by 63.5% in the first quarter. Bank of America Corp DE now owns 1,443,313 shares of the company’s stock worth $26,167,000 after buying an additional 560,391 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Dyne Therapeutics by 15.6% in the first quarter. California State Teachers Retirement System now owns 139,663 shares of the company’s stock worth $2,532,000 after buying an additional 18,863 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Dyne Therapeutics by 267.6% in the first quarter. Royal Bank of Canada now owns 68,188 shares of the company’s stock worth $1,236,000 after buying an additional 49,641 shares in the last quarter. Finally, Rock Springs Capital Management LP grew its holdings in shares of Dyne Therapeutics by 6.5% during the first quarter. Rock Springs Capital Management LP now owns 972,198 shares of the company’s stock valued at $17,626,000 after buying an additional 59,243 shares during the last quarter. Institutional investors own 96.68% of the company’s stock.

About Dyne Therapeutics

Dyne Therapeutics is a clinical-stage biotechnology company specializing in the development of localized gene regulation therapies for serious rare diseases. The company’s proprietary FORCE (Facilitated Orthogonal Receptor?mediated Cargo Evaluation) platform is designed to enable targeted delivery of oligonucleotide and gene therapy modalities to skeletal and respiratory muscles. Dyne’s lead programs focus on Duchenne muscular dystrophy (DMD), myotonic dystrophy type 1 (DM1) and facioscapulohumeral muscular dystrophy (FSHD), with preclinical and early clinical studies evaluating safety, tolerability and tissue specificity.

Since its founding in 2019 by Flagship Pioneering, Dyne has advanced multiple product candidates using its modular delivery approach, which couples engineered ligands with therapeutic payloads to improve uptake into muscle cells.