Royal Bank Of Canada Has Lowered Expectations for Dyne Therapeutics (NASDAQ:DYN) Stock Price

Dyne Therapeutics (NASDAQ:DYN) had its price objective cut by Royal Bank Of Canada from $25.00 to $23.00 in a report issued on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

Several other analysts also recently weighed in on DYN. HC Wainwright lowered their price target on shares of Dyne Therapeutics from $46.00 to $38.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Guggenheim reissued a “buy” rating and issued a $50.00 price target on shares of Dyne Therapeutics in a research note on Wednesday, June 18th. Chardan Capital decreased their price objective on shares of Dyne Therapeutics from $50.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. lowered their price objective on shares of Dyne Therapeutics from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Tuesday, July 15th. Finally, Robert W. Baird lowered their price objective on shares of Dyne Therapeutics from $46.00 to $32.00 and set an “outperform” rating for the company in a research note on Wednesday, June 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $38.13.

Dyne Therapeutics Stock Down 1.2%

Dyne Therapeutics stock opened at $9.20 on Tuesday. The company has a market capitalization of $1.05 billion, a PE ratio of -2.38 and a beta of 1.08. The firm has a fifty day simple moving average of $10.82 and a two-hundred day simple moving average of $11.56. Dyne Therapeutics has a twelve month low of $6.36 and a twelve month high of $47.45.

Dyne Therapeutics (NASDAQ:DYN) last posted its quarterly earnings results on Monday, July 28th. The company reported ($0.97) earnings per share for the quarter, topping the consensus estimate of ($0.99) by $0.02. As a group, equities analysts expect that Dyne Therapeutics will post -3.44 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO John Cox purchased 100,000 shares of Dyne Therapeutics stock in a transaction that occurred on Monday, July 14th. The shares were bought at an average price of $9.11 per share, for a total transaction of $911,000.00. Following the completion of the transaction, the chief executive officer directly owned 242,179 shares of the company’s stock, valued at $2,206,250.69. This represents a 70.33% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 20.77% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of DYN. RA Capital Management L.P. grew its holdings in Dyne Therapeutics by 52.2% in the first quarter. RA Capital Management L.P. now owns 9,714,392 shares of the company’s stock worth $101,613,000 after purchasing an additional 3,333,248 shares during the period. Braidwell LP grew its holdings in Dyne Therapeutics by 431.6% in the first quarter. Braidwell LP now owns 3,621,344 shares of the company’s stock worth $37,879,000 after purchasing an additional 2,940,162 shares during the period. Armistice Capital LLC grew its holdings in Dyne Therapeutics by 187.0% in the first quarter. Armistice Capital LLC now owns 2,768,000 shares of the company’s stock worth $28,953,000 after purchasing an additional 1,803,482 shares during the period. Jefferies Financial Group Inc. purchased a new stake in Dyne Therapeutics in the fourth quarter worth about $42,408,000. Finally, Vestal Point Capital LP purchased a new stake in Dyne Therapeutics in the first quarter worth about $18,828,000. 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.