HC Wainwright Cuts Dyne Therapeutics (NASDAQ:DYN) Price Target to $38.00

Dyne Therapeutics (NASDAQ:DYN) had its price target reduced by HC Wainwright from $46.00 to $38.00 in a research note released on Friday,Benzinga reports. HC Wainwright currently has a buy rating on the stock.

Other analysts also recently issued reports about the stock. Scotiabank started coverage on shares of Dyne Therapeutics in a report on Friday, March 7th. They issued a “sector outperform” rating and a $50.00 target price on the stock. Piper Sandler decreased their price target on shares of Dyne Therapeutics from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. Royal Bank of Canada reiterated an “outperform” rating and set a $45.00 price objective on shares of Dyne Therapeutics in a research report on Tuesday, January 14th. BMO Capital Markets began coverage on Dyne Therapeutics in a research note on Wednesday, March 12th. They set an “outperform” rating and a $50.00 price objective for the company. Finally, Guggenheim reaffirmed a “buy” rating on shares of Dyne Therapeutics in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $46.85.

Dyne Therapeutics Stock Up 1.2%

Shares of Dyne Therapeutics stock opened at $11.44 on Friday. The business has a fifty day simple moving average of $10.37 and a 200-day simple moving average of $17.98. Dyne Therapeutics has a fifty-two week low of $6.36 and a fifty-two week high of $47.45. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -3.21 and a beta of 1.19.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($1.05) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.17). Analysts anticipate that Dyne Therapeutics will post -3.44 earnings per share for the current fiscal year.

Insider Activity at Dyne Therapeutics

In related news, insider Oxana Beskrovnaya sold 2,598 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $13.95, for a total transaction of $36,242.10. Following the transaction, the insider now directly owns 199,087 shares of the company’s stock, valued at approximately $2,777,263.65. The trade was a 1.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders have sold 6,237 shares of company stock valued at $77,760. Company insiders own 14.14% of the company’s stock.

Institutional Investors Weigh In On Dyne Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in DYN. abrdn plc purchased a new position in shares of Dyne Therapeutics during the 4th quarter valued at $608,000. Raymond James Financial Inc. acquired a new stake in Dyne Therapeutics during the fourth quarter valued at $2,340,000. Barclays PLC grew its stake in Dyne Therapeutics by 162.2% in the third quarter. Barclays PLC now owns 207,309 shares of the company’s stock valued at $7,446,000 after purchasing an additional 128,246 shares in the last quarter. Schroder Investment Management Group grew its stake in Dyne Therapeutics by 63.3% in the fourth quarter. Schroder Investment Management Group now owns 147,002 shares of the company’s stock valued at $3,477,000 after purchasing an additional 56,961 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in Dyne Therapeutics by 54.5% in the 4th quarter. Wells Fargo & Company MN now owns 38,754 shares of the company’s stock worth $913,000 after purchasing an additional 13,677 shares during the last quarter. 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.