Guggenheim Reaffirms Buy Rating for Dyne Therapeutics (NASDAQ:DYN)

Guggenheim restated their buy rating on shares of Dyne Therapeutics (NASDAQ:DYN) in a report issued on Wednesday,Benzinga reports. Guggenheim currently has a $50.00 price objective on the stock.

Several other equities analysts have also recently weighed in on the company. BMO Capital Markets started coverage on Dyne Therapeutics in a report on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 price objective for the company. Piper Sandler decreased their price target on Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. HC Wainwright cut their price objective on shares of Dyne Therapeutics from $46.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, May 9th. JPMorgan Chase & Co. reduced their price objective on shares of Dyne Therapeutics from $18.00 to $17.00 and set a “neutral” rating on the stock in a research note on Friday, March 21st. Finally, Robert W. Baird decreased their target price on shares of Dyne Therapeutics from $46.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $43.93.

Dyne Therapeutics Stock Down 4.3%

NASDAQ DYN opened at $10.32 on Wednesday. The firm has a 50-day moving average price of $11.60 and a two-hundred day moving average price of $14.59. Dyne Therapeutics has a 12-month low of $6.36 and a 12-month high of $47.45. The company has a market capitalization of $1.17 billion, a P/E ratio of -2.87 and a beta of 1.16.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings results on Thursday, May 8th. The company reported ($1.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.17). Equities analysts expect that Dyne Therapeutics will post -3.44 EPS for the current year.

Hedge Funds Weigh In On Dyne Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in DYN. Caitong International Asset Management Co. Ltd increased its holdings in shares of Dyne Therapeutics by 378.6% during the first quarter. Caitong International Asset Management Co. Ltd now owns 3,092 shares of the company’s stock worth $32,000 after buying an additional 2,446 shares in the last quarter. Quarry LP bought a new stake in Dyne Therapeutics during the 1st quarter worth $47,000. GF Fund Management CO. LTD. acquired a new position in Dyne Therapeutics in the 4th quarter worth about $50,000. E Fund Management Co. Ltd. increased its holdings in Dyne Therapeutics by 16.2% in the 1st quarter. E Fund Management Co. Ltd. now owns 13,771 shares of the company’s stock worth $144,000 after purchasing an additional 1,923 shares in the last quarter. Finally, Optimize Financial Inc bought a new position in Dyne Therapeutics in the first quarter valued at about $154,000. 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.