Dyne Therapeutics (NASDAQ:DYN) Receives New Coverage from Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of Dyne Therapeutics (NASDAQ:DYN) in a report released on Tuesday, Marketbeat.com reports. The firm issued an overweight rating and a $40.00 target price on the stock.

DYN has been the subject of a number of other research reports. Piper Sandler raised their price target on Dyne Therapeutics from $27.00 to $29.00 and gave the company an overweight rating in a research report on Wednesday, March 6th. Oppenheimer restated an outperform rating and issued a $47.00 price target on shares of Dyne Therapeutics in a research report on Tuesday, March 26th. Raymond James raised their price target on Dyne Therapeutics from $27.00 to $56.00 and gave the company a strong-buy rating in a research report on Thursday, January 4th. HC Wainwright restated a buy rating and issued a $36.00 price target on shares of Dyne Therapeutics in a research report on Wednesday, March 6th. Finally, Chardan Capital raised their price target on Dyne Therapeutics from $20.00 to $31.00 and gave the company a buy rating in a research report on Friday, March 8th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $37.75.

Dyne Therapeutics Stock Performance

NASDAQ:DYN opened at $26.08 on Tuesday. The stock has a fifty day moving average price of $26.34 and a two-hundred day moving average price of $18.29. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of -6.62 and a beta of 1.00. Dyne Therapeutics has a 1 year low of $6.40 and a 1 year high of $30.27.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($1.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.17). On average, analysts predict that Dyne Therapeutics will post -3.27 EPS for the current year.

Insider Activity

In other news, SVP Richard William Scalzo sold 3,429 shares of Dyne Therapeutics stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $27.50, for a total value of $94,297.50. Following the transaction, the senior vice president now directly owns 124,228 shares of the company’s stock, valued at approximately $3,416,270. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Richard William Scalzo sold 3,429 shares of Dyne Therapeutics stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $27.50, for a total value of $94,297.50. Following the transaction, the senior vice president now directly owns 124,228 shares of the company’s stock, valued at approximately $3,416,270. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Wildon Farwell sold 1,585 shares of Dyne Therapeutics stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $25.70, for a total value of $40,734.50. Following the completion of the transaction, the insider now directly owns 151,590 shares in the company, valued at $3,895,863. The disclosure for this sale can be found here. Insiders have sold 1,875,432 shares of company stock valued at $44,368,530 in the last three months. Corporate insiders own 20.77% of the company’s stock.

Institutional Trading of Dyne Therapeutics

A number of hedge funds have recently made changes to their positions in the company. Principal Financial Group Inc. boosted its stake in shares of Dyne Therapeutics by 5.9% in the first quarter. Principal Financial Group Inc. now owns 15,403 shares of the company’s stock valued at $437,000 after purchasing an additional 857 shares during the period. Wetzel Investment Advisors Inc. purchased a new position in Dyne Therapeutics in the 1st quarter valued at about $28,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Dyne Therapeutics by 5.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,921 shares of the company’s stock valued at $305,000 after acquiring an additional 1,199 shares in the last quarter. Profund Advisors LLC increased its position in shares of Dyne Therapeutics by 9.8% during the third quarter. Profund Advisors LLC now owns 23,793 shares of the company’s stock worth $213,000 after acquiring an additional 2,131 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its stake in shares of Dyne Therapeutics by 13.7% in the fourth quarter. New York State Common Retirement Fund now owns 18,592 shares of the company’s stock worth $247,000 after acquiring an additional 2,244 shares in the last quarter. Hedge funds and other 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.