JPMorgan Chase & Co. Cuts Dyne Therapeutics (NASDAQ:DYN) Price Target to $17.00

Dyne Therapeutics (NASDAQ:DYN) had its target price cut by equities research analysts at JPMorgan Chase & Co. from $18.00 to $17.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 40.73% from the company’s previous close.

Several other brokerages have also recently weighed in on DYN. Baird R W raised Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $45.00 price target on shares of Dyne Therapeutics in a research note on Tuesday, January 14th. BMO Capital Markets began coverage on Dyne Therapeutics in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $50.00 price target on the stock. Raymond James raised Dyne Therapeutics to a “strong-buy” rating in a research note on Thursday, December 12th. Finally, Scotiabank initiated coverage on Dyne Therapeutics in a report on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Dyne Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $47.46.

Dyne Therapeutics Stock Performance

DYN opened at $12.08 on Friday. Dyne Therapeutics has a 52-week low of $11.18 and a 52-week high of $47.45. The stock has a market capitalization of $1.37 billion, a PE ratio of -3.39 and a beta of 1.11. The stock’s 50 day moving average price is $13.60 and its 200-day moving average price is $24.20.

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

Insider Activity

In other Dyne Therapeutics news, insider Oxana Beskrovnaya sold 2,598 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $13.95, for a total value of $36,242.10. Following the transaction, the insider now owns 199,087 shares of the company’s stock, valued at approximately $2,777,263.65. This represents a 1.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 6,237 shares of company stock valued at $77,760 over the last ninety days. 20.77% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DYN. Victory Capital Management Inc. lifted its holdings in Dyne Therapeutics by 59.4% in the third quarter. Victory Capital Management Inc. now owns 30,537 shares of the company’s stock valued at $1,097,000 after acquiring an additional 11,385 shares during the period. KBC Group NV lifted its holdings in Dyne Therapeutics by 53.4% in the third quarter. KBC Group NV now owns 2,157 shares of the company’s stock valued at $77,000 after acquiring an additional 751 shares during the period. Quest Partners LLC increased its position in Dyne Therapeutics by 898.3% in the third quarter. Quest Partners LLC now owns 3,434 shares of the company’s stock worth $123,000 after buying an additional 3,090 shares in the last quarter. Jennison Associates LLC increased its position in Dyne Therapeutics by 1.5% in the third quarter. Jennison Associates LLC now owns 1,346,952 shares of the company’s stock worth $48,383,000 after buying an additional 19,730 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Dyne Therapeutics in the third quarter worth about $1,478,000. 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.