Dyne Therapeutics (NASDAQ:DYN) Stock Rating Reaffirmed by Oppenheimer

Dyne Therapeutics (NASDAQ:DYN)‘s stock had its “outperform” rating restated by investment analysts at Oppenheimer in a note issued to investors on Monday, Benzinga reports. They presently have a $47.00 target price on the stock. Oppenheimer’s target price suggests a potential upside of 83.24% from the company’s previous close.

Other analysts have also issued reports about the stock. Morgan Stanley initiated coverage on shares of Dyne Therapeutics in a research note on Tuesday, April 30th. They set an “overweight” rating and a $40.00 target price for the company. Chardan Capital reissued a “buy” rating and set a $31.00 price objective on shares of Dyne Therapeutics in a research note on Monday. Piper Sandler boosted their target price on Dyne Therapeutics from $27.00 to $29.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 6th. Stifel Nicolaus lifted their price target on Dyne Therapeutics from $35.00 to $41.00 and gave the stock a “buy” rating in a research note on Wednesday, March 6th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $36.00 price objective on shares of Dyne Therapeutics in a research note on Friday, May 3rd. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $37.75.

Dyne Therapeutics Stock Performance

Shares of DYN stock opened at $25.65 on Monday. Dyne Therapeutics has a 1 year low of $6.40 and a 1 year high of $30.27. The business’s fifty day moving average is $26.47 and its 200-day moving average is $18.83. The stock has a market cap of $2.24 billion, a PE ratio of -6.46 and a beta of 1.00.

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

Insider Activity

In related news, major shareholder Venture Fund Xi L.P. Atlas sold 184,501 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $22.57, for a total transaction of $4,164,187.57. Following the completion of the sale, the insider now directly owns 6,631,464 shares in the company, valued at $149,672,142.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder Venture Fund Xi L.P. Atlas sold 184,501 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $22.57, for a total transaction of $4,164,187.57. Following the completion of the sale, the insider now directly owns 6,631,464 shares in the company, valued at $149,672,142.48. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jason P. Rhodes sold 248,219 shares of Dyne Therapeutics stock in a transaction on Monday, February 26th. The shares were sold at an average price of $23.72, for a total value of $5,887,754.68. Following the sale, the director now directly owns 903,527 shares of the company’s stock, valued at approximately $21,431,660.44. The disclosure for this sale can be found here. Insiders have sold 1,875,432 shares of company stock worth $44,368,530 in the last 90 days. Company insiders own 20.77% of the company’s stock.

Hedge Funds Weigh In On Dyne Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wetzel Investment Advisors Inc. acquired a new stake in shares of Dyne Therapeutics in the first quarter worth about $28,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Dyne Therapeutics by 58.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,379 shares of the company’s stock worth $75,000 after purchasing an additional 3,092 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Dyne Therapeutics by 95.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,310 shares of the company’s stock worth $83,000 after purchasing an additional 4,552 shares during the period. China Universal Asset Management Co. Ltd. grew its holdings in Dyne Therapeutics by 355.6% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 7,099 shares of the company’s stock valued at $94,000 after purchasing an additional 5,541 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Dyne Therapeutics by 10.7% in the third quarter. Principal Financial Group Inc. now owns 15,229 shares of the company’s stock valued at $136,000 after purchasing an additional 1,476 shares during the period. 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.