HC Wainwright Reaffirms Buy Rating for Dyne Therapeutics (NASDAQ:DYN)

HC Wainwright restated their buy rating on shares of Dyne Therapeutics (NASDAQ:DYN) in a report issued on Monday,Benzinga reports. HC Wainwright currently has a $46.00 price target on the stock.

Several other equities research analysts have also recently issued reports on the stock. Raymond James raised shares of Dyne Therapeutics to a “strong-buy” rating in a research report on Thursday, December 12th. Piper Sandler decreased their target price on shares of Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Scotiabank assumed coverage on shares of Dyne Therapeutics in a research report on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 target price on the stock. Chardan Capital reissued a “buy” rating and issued a $50.00 target price on shares of Dyne Therapeutics in a research report on Monday. Finally, Guggenheim reissued a “buy” rating on shares of Dyne Therapeutics in a research report on Friday, January 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $48.85.

Dyne Therapeutics Price Performance

Dyne Therapeutics stock opened at $12.40 on Monday. Dyne Therapeutics has a 12-month low of $11.18 and a 12-month high of $47.45. The stock has a market capitalization of $1.40 billion, a P/E ratio of -3.48 and a beta of 1.11. The firm’s 50-day moving average is $13.89 and its two-hundred day moving average is $24.58.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings results on Tuesday, March 4th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.04. As a group, analysts forecast that Dyne Therapeutics will post -3.44 EPS for the current year.

Insider Activity

In other news, insider Oxana Beskrovnaya sold 2,598 shares of Dyne Therapeutics stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total transaction of $36,242.10. Following the sale, the insider now owns 199,087 shares in the company, valued at $2,777,263.65. This trade represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold 6,237 shares of company stock worth $77,760 over the last 90 days. Company insiders own 20.77% of the company’s stock.

Institutional Trading of Dyne Therapeutics

Hedge funds have recently made changes to their positions in the company. FMR LLC increased its stake in shares of Dyne Therapeutics by 69.7% in 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 during the last quarter. Janus Henderson Group PLC increased its stake in shares of 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 buying an additional 2,189,339 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Dyne Therapeutics in the fourth quarter worth $42,408,000. Norges Bank bought a new stake in shares of Dyne Therapeutics in the fourth quarter worth $22,384,000. Finally, Point72 Asset Management L.P. boosted its holdings 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 worth $21,785,000 after purchasing an additional 822,201 shares during the period. 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.