Dyne Therapeutics, Inc. (NASDAQ:DYN) Receives $34.94 Consensus PT from Brokerages

Shares of Dyne Therapeutics, Inc. (NASDAQ:DYN) have received an average recommendation of “Buy” from the sixteen ratings firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and two have given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $33.80.

A number of research firms recently commented on DYN. Evercore ISI reissued an “outperform” rating on shares of Dyne Therapeutics in a research note on Friday, July 11th. Guggenheim reiterated a “buy” rating and issued a $50.00 price objective on shares of Dyne Therapeutics in a report on Wednesday, June 18th. Oppenheimer reduced their price objective on Dyne Therapeutics from $34.00 to $13.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 6th. Royal Bank Of Canada dropped their target price on Dyne Therapeutics from $25.00 to $23.00 and set an “outperform” rating for the company in a research report on Tuesday, July 29th. Finally, Jones Trading initiated coverage on Dyne Therapeutics in a research note on Thursday, June 26th. They issued a “buy” rating and a $30.00 target price for the company.

Dyne Therapeutics Trading Up 2.1%

Shares of DYN opened at $12.50 on Tuesday. Dyne Therapeutics has a 1-year low of $6.36 and a 1-year high of $47.45. The company has a market capitalization of $1.78 billion, a P/E ratio of -3.24 and a beta of 1.08. The company has a debt-to-equity ratio of 0.17, a current ratio of 16.83 and a quick ratio of 16.83. The firm’s 50 day simple moving average is $10.51 and its 200 day simple moving average is $11.30.

Dyne Therapeutics (NASDAQ:DYN) last issued its quarterly earnings results on Monday, July 28th. The company reported ($0.97) EPS for the quarter, topping analysts’ consensus estimates of ($0.99) by $0.02. Sell-side analysts forecast that Dyne Therapeutics will post -3.44 earnings per share for the current fiscal year.

Insider Activity at Dyne Therapeutics

In other news, CEO John Cox purchased 100,000 shares of the stock in a transaction that occurred on Monday, July 14th. The stock was bought at an average cost of $9.11 per share, for a total transaction of $911,000.00. Following the acquisition, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 14.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Dyne Therapeutics

Hedge funds have recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in shares of Dyne Therapeutics during the fourth quarter worth about $2,340,000. Rhumbline Advisers increased its holdings in Dyne Therapeutics by 4.2% during the 1st quarter. Rhumbline Advisers now owns 133,627 shares of the company’s stock valued at $1,398,000 after purchasing an additional 5,383 shares during the period. Wells Fargo & Company MN raised its position in Dyne Therapeutics by 54.5% during the 4th quarter. Wells Fargo & Company MN now owns 38,754 shares of the company’s stock valued at $913,000 after purchasing an additional 13,677 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Dyne Therapeutics by 837.5% in the 1st quarter. GAMMA Investing LLC now owns 2,625 shares of the company’s stock worth $251,000 after buying an additional 2,345 shares during the period. Finally, Northern Trust Corp grew its position in shares of Dyne Therapeutics by 7.7% in the 4th quarter. Northern Trust Corp now owns 777,013 shares of the company’s stock worth $18,306,000 after buying an additional 55,511 shares during the last quarter. Hedge funds and other 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.