Dyne Therapeutics, Inc. (NASDAQ:DYN) Receives Consensus Recommendation of “Buy” from Analysts

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) have been given a consensus recommendation of “Buy” by the thirteen ratings firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $49.91.

Several research analysts have recently weighed in on the stock. Guggenheim reiterated a “buy” rating on shares of Dyne Therapeutics in a report on Friday, January 24th. Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 price objective on shares of Dyne Therapeutics in a report on Tuesday, January 14th. Raymond James upgraded shares of Dyne Therapeutics to a “strong-buy” rating in a report on Thursday, December 12th. Chardan Capital reiterated a “buy” rating and set a $50.00 price objective on shares of Dyne Therapeutics in a report on Friday, January 10th. Finally, Robert W. Baird assumed coverage on shares of Dyne Therapeutics in a report on Friday, December 13th. They set an “outperform” rating and a $46.00 price objective on the stock.

Dyne Therapeutics Price Performance

Dyne Therapeutics stock opened at $13.59 on Tuesday. Dyne Therapeutics has a 12-month low of $13.07 and a 12-month high of $47.45. The stock has a market capitalization of $1.38 billion, a P/E ratio of -3.82 and a beta of 1.11. The firm’s 50-day moving average is $17.88 and its two-hundred day moving average is $28.35.

Insider Activity at Dyne Therapeutics

In other news, SVP Richard William Scalzo sold 1,455 shares of Dyne Therapeutics stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $28.12, for a total transaction of $40,914.60. Following the sale, the senior vice president now owns 127,078 shares in the company, valued at $3,573,433.36. This trade represents a 1.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Oxana Beskrovnaya sold 2,334 shares of Dyne Therapeutics stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $28.12, for a total transaction of $65,632.08. Following the sale, the insider now owns 201,685 shares in the company, valued at $5,671,382.20. This represents a 1.14 % decrease in their position. The disclosure for this sale can be found here. 20.77% of the stock is currently owned by insiders.

Institutional Trading of Dyne Therapeutics

Hedge funds have recently made changes to their positions in the company. FMR LLC grew its position in shares of Dyne Therapeutics by 69.7% during 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 in the last quarter. Janus Henderson Group PLC boosted its holdings in Dyne Therapeutics by 47.3% in the third quarter. Janus Henderson Group PLC now owns 6,813,163 shares of the company’s stock worth $244,755,000 after purchasing an additional 2,189,339 shares during the period. Jefferies Financial Group Inc. bought a new stake in Dyne Therapeutics in the fourth quarter valued at $42,408,000. Norges Bank bought a new stake in Dyne Therapeutics in the fourth quarter valued at $22,384,000. Finally, Point72 Asset Management L.P. lifted its stake in Dyne Therapeutics by 802.3% in the fourth quarter. Point72 Asset Management L.P. now owns 924,681 shares of the company’s stock valued at $21,785,000 after buying an additional 822,201 shares during the last quarter. Hedge funds and other institutional investors own 96.68% of the company’s stock.

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.