Sanford C. Bernstein Initiates Coverage on Dyne Therapeutics (NASDAQ:DYN)

Stock analysts at Sanford C. Bernstein initiated coverage on shares of Dyne Therapeutics (NASDAQ:DYN) in a research report issued on Tuesday, Marketbeat.com reports. The firm set a “market perform” rating and a $13.00 price target on the stock. Sanford C. Bernstein’s target price indicates a potential upside of 24.76% from the company’s current price.

A number of other brokerages have also recently issued reports on DYN. Guggenheim reaffirmed a “buy” rating and set a $50.00 target price on shares of Dyne Therapeutics in a research report on Wednesday, June 18th. HC Wainwright decreased their price objective on shares of Dyne Therapeutics from $46.00 to $38.00 and set a “buy” rating for the company in a report on Friday, May 9th. Chardan Capital reiterated a “buy” rating and issued a $50.00 target price on shares of Dyne Therapeutics in a research note on Tuesday, June 17th. Piper Sandler cut their target price on shares of Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Finally, Raymond James Financial began coverage on shares of Dyne Therapeutics in a report on Wednesday, June 11th. They set an “outperform” rating and a $37.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.87.

Dyne Therapeutics Trading Down 2.0%

Shares of NASDAQ:DYN opened at $10.42 on Tuesday. The stock has a market capitalization of $1.18 billion, a PE ratio of -2.90 and a beta of 1.16. Dyne Therapeutics has a 1 year low of $6.36 and a 1 year high of $47.45. The firm has a fifty day moving average price of $11.76 and a 200 day moving average price of $14.20.

Dyne Therapeutics (NASDAQ:DYN) last announced 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). On average, sell-side analysts forecast that Dyne Therapeutics will post -3.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Dyne Therapeutics

Several large investors have recently added to or reduced their stakes in the company. Rhumbline Advisers grew its holdings in shares of Dyne Therapeutics by 3.0% during the 4th quarter. Rhumbline Advisers now owns 128,244 shares of the company’s stock worth $3,021,000 after purchasing an additional 3,734 shares in the last quarter. Handelsbanken Fonder AB lifted its position in Dyne Therapeutics by 16.6% in the fourth quarter. Handelsbanken Fonder AB now owns 22,500 shares of the company’s stock worth $530,000 after purchasing an additional 3,200 shares during the period. Bank of New York Mellon Corp boosted its stake in Dyne Therapeutics by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 234,798 shares of the company’s stock worth $5,532,000 after buying an additional 698 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Dyne Therapeutics by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 667,452 shares of the company’s stock valued at $15,725,000 after buying an additional 18,800 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in Dyne Therapeutics by 100.9% in the 4th quarter. Victory Capital Management Inc. now owns 61,348 shares of the company’s stock valued at $1,445,000 after buying an additional 30,811 shares during the period. Institutional investors and hedge funds 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.