Dyne Therapeutics’ (DYN) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Dyne Therapeutics (NASDAQ:DYN) in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a $36.00 target price on the stock.

DYN has been the topic of a number of other reports. Morgan Stanley began coverage on shares of Dyne Therapeutics in a research report on Tuesday, April 30th. They set an overweight rating and a $40.00 price target on the stock. Oppenheimer restated an outperform rating and issued a $47.00 price objective on shares of Dyne Therapeutics in a report on Tuesday, March 26th. Chardan Capital boosted their price objective on shares of Dyne Therapeutics from $20.00 to $31.00 and gave the stock a buy rating in a report on Friday, March 8th. Raymond James upped their price target on shares of Dyne Therapeutics from $27.00 to $56.00 and gave the company a strong-buy rating in a report on Thursday, January 4th. Finally, Piper Sandler upped their price objective on shares of Dyne Therapeutics from $27.00 to $29.00 and gave the stock an overweight rating in a report on Wednesday, March 6th. One 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 company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $37.75.

Dyne Therapeutics Price Performance

Shares of NASDAQ:DYN opened at $26.08 on Friday. The firm has a 50 day simple moving average of $26.41 and a 200 day simple moving average of $18.57. Dyne Therapeutics has a one year low of $6.40 and a one year high of $30.27.

Dyne Therapeutics (NASDAQ:DYN) last released its quarterly earnings results 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). Sell-side analysts forecast that Dyne Therapeutics will post -3.27 EPS for the current fiscal year.

Insider Transactions at Dyne Therapeutics

In other news, insider Wildon Farwell sold 1,585 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $25.70, for a total transaction of $40,734.50. Following the transaction, the insider now owns 151,590 shares in the company, valued at $3,895,863. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Susanna Gatti High sold 2,292 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $25.70, for a total transaction of $58,904.40. Following the sale, the chief operating officer now owns 156,800 shares of the company’s stock, valued at $4,029,760. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Wildon Farwell sold 1,585 shares of the firm’s 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 sale, the insider now directly owns 151,590 shares in the company, valued at approximately $3,895,863. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,875,432 shares of company stock worth $44,368,530. Insiders own 20.77% of the company’s stock.

Institutional Investors Weigh In On Dyne Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. Fcpm Iii Services B.V. purchased a new stake in shares of Dyne Therapeutics during the fourth quarter worth about $81,543,000. Braidwell LP boosted its position in Dyne Therapeutics by 32.2% in the third quarter. Braidwell LP now owns 1,821,972 shares of the company’s stock valued at $16,325,000 after buying an additional 444,100 shares during the last quarter. Vivo Capital LLC boosted its position in Dyne Therapeutics by 58.0% in the first quarter. Vivo Capital LLC now owns 1,635,136 shares of the company’s stock valued at $46,422,000 after buying an additional 600,000 shares during the last quarter. Jennison Associates LLC boosted its position in Dyne Therapeutics by 495.2% in the first quarter. Jennison Associates LLC now owns 1,207,551 shares of the company’s stock valued at $34,282,000 after buying an additional 1,004,680 shares during the last quarter. Finally, Armistice Capital LLC boosted its position in Dyne Therapeutics by 31.6% in the third quarter. Armistice Capital LLC now owns 1,200,000 shares of the company’s stock valued at $10,752,000 after buying an additional 288,000 shares during the last quarter. 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.