Dyne Therapeutics (NASDAQ:DYN) Cut to Underweight at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Dyne Therapeutics (NASDAQ:DYN) from a neutral rating to an underweight rating in a research note issued to investors on Wednesday morning, MarketBeat reports. JPMorgan Chase & Co. currently has $10.00 price objective on the stock, down from their previous price objective of $17.00.

A number of other research firms have also weighed in on DYN. Robert W. Baird lowered their price target on shares of Dyne Therapeutics from $30.00 to $26.00 and set an “outperform” rating on the stock in a research report on Wednesday. Evercore set a $33.00 target price on shares of Dyne Therapeutics in a research note on Friday, May 15th. Morgan Stanley lowered their target price on Dyne Therapeutics from $47.00 to $45.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. Cantor Fitzgerald assumed coverage on Dyne Therapeutics in a research report on Thursday, July 23rd. They issued an “overweight” rating for the company. Finally, Wall Street Zen downgraded Dyne Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.17.

Dyne Therapeutics Stock Down 1.1%

Shares of DYN opened at $18.21 on Wednesday. The stock has a 50 day moving average price of $24.58 and a 200 day moving average price of $20.53. Dyne Therapeutics has a one year low of $11.92 and a one year high of $27.31. The company has a debt-to-equity ratio of 0.28, a quick ratio of 12.02 and a current ratio of 12.02. The stock has a market capitalization of $3.40 billion, a price-to-earnings ratio of -5.47 and a beta of 1.08.

Dyne Therapeutics (NASDAQ:DYN) last announced its quarterly earnings data on Thursday, July 30th. The company reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.33). Equities research analysts forecast that Dyne Therapeutics will post -3.51 earnings per share for the current fiscal year.

Insider Activity

In other Dyne Therapeutics news, Director Jason P. Rhodes sold 2,160,516 shares of Dyne Therapeutics stock in a transaction on Friday, August 14th. The stock was sold at an average price of $25.00, for a total value of $54,012,900.00. Following the sale, the director owned 428,946 shares in the company, valued at $10,723,650. The trade was a 83.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Douglas Kerr sold 3,745 shares of the company’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $24.35, for a total value of $91,190.75. Following the completion of the transaction, the insider directly owned 163,854 shares in the company, valued at approximately $3,989,844.90. This trade represents a 2.23% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 4,150,974 shares of company stock worth $99,697,629 in the last 90 days. 9.46% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Hilton Head Capital Partners LLC purchased a new position in Dyne Therapeutics during the first quarter worth about $26,000. Strs Ohio purchased a new stake in shares of Dyne Therapeutics in the 4th quarter valued at approximately $51,000. Allworth Financial LP acquired a new position in shares of Dyne Therapeutics in the 2nd quarter worth approximately $62,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Dyne Therapeutics in the 4th quarter worth approximately $84,000. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Dyne Therapeutics by 102.1% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 4,880 shares of the company’s stock worth $95,000 after purchasing an additional 2,465 shares during the period. Institutional investors and hedge funds own 96.68% of the company’s stock.

Dyne Therapeutics Company Profile

Dyne Therapeutics, Inc is a biotechnology company focused on developing treatments for genetically driven muscle diseases. The company uses its FORCE platform, which is designed to deliver oligonucleotide therapeutics to skeletal muscle and other tissues by combining muscle-targeting antibodies with genetic medicines.

Dyne’s research and development programs are aimed at conditions in which the underlying genetic mutations impair muscle function. Its pipeline has included DYNE-101 for myotonic dystrophy type 1 and DYNE-251 for Duchenne muscular dystrophy in patients with mutations amenable to exon 51 skipping.