Weekly Investment Analysts’ Ratings Updates for Decibel Therapeutics (DBTX)

Several brokerages have updated their recommendations and price targets on shares of Decibel Therapeutics (NASDAQ: DBTX) in the last few weeks:

• 5/18/2022 – Decibel Therapeutics was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Decibel Therapeutics is a clinical-stage biotechnology company. It engages in discovering and developing transformative treatments to restore and improve hearing and balance. Decibel Therapeutics is based in BOSTON. “
• 5/17/2022 – Decibel Therapeutics had its price target lowered by analysts at Citigroup Inc. from $20.00 to $15.00. They now have a “buy” rating on the stock.
• 5/13/2022 – Decibel Therapeutics was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $2.25 price target on the stock. According to Zacks, “Decibel Therapeutics is a clinical-stage biotechnology company. It engages in discovering and developing transformative treatments to restore and improve hearing and balance. Decibel Therapeutics is based in BOSTON. “
• 5/5/2022 – Decibel Therapeutics was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Decibel Therapeutics is a clinical-stage biotechnology company. It engages in discovering and developing transformative treatments to restore and improve hearing and balance. Decibel Therapeutics is based in BOSTON. “
• 4/12/2022 – Decibel Therapeutics was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $2.50 price target on the stock. According to Zacks, “Decibel Therapeutics is a clinical-stage biotechnology company. It engages in discovering and developing transformative treatments to restore and improve hearing and balance. Decibel Therapeutics is based in BOSTON. “

DBTX stock traded up $0.01 during midday trading on Tuesday, reaching $2.36. 524 shares of the stock were exchanged, compared to its average volume of 62,073. The stock has a market capitalization of $58.92 million, a PE ratio of -1.08 and a beta of 0.45. Decibel Therapeutics, Inc. has a 52 week low of $1.83 and a 52 week high of $9.75. The company has a fifty day moving average price of $2.44 and a 200 day moving average price of $4.09.

Decibel Therapeutics (NASDAQ:DBTX – Get Rating) last issued its quarterly earnings data on Friday, March 18th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.08). As a group, sell-side analysts expect that Decibel Therapeutics, Inc. will post -1.69 EPS for the current year.

A number of hedge funds have recently modified their holdings of the stock. Marquette Asset Management LLC acquired a new position in Decibel Therapeutics during the 4th quarter worth about $86,000. BlackRock Inc. lifted its holdings in Decibel Therapeutics by 73.1% during the 1st quarter. BlackRock Inc. now owns 1,897,223 shares of the company’s stock worth $5,768,000 after buying an additional 801,010 shares during the period. Morgan Stanley lifted its holdings in Decibel Therapeutics by 918.3% during the 2nd quarter. Morgan Stanley now owns 75,387 shares of the company’s stock worth $648,000 after buying an additional 67,984 shares during the period. Renaissance Technologies LLC acquired a new position in Decibel Therapeutics during the 4th quarter worth about $237,000. Finally, Flagship Harbor Advisors LLC acquired a new position in Decibel Therapeutics during the 4th quarter worth about $47,000. Institutional investors and hedge funds own 64.04% of the company’s stock.

Decibel Therapeutics, Inc, a clinical-stage biotechnology company, engages in discovering and developing transformative treatments for hearing and balance disorders. Its product candidates and programs focuses on three areas, such as Gene Therapies for Congenital, Monogenic Hearing Loss designed to restore functional cells within the cochlea to address hearing disorders caused by single gene mutations; Gene Therapies for Hair Cell Regeneration designed to replace lost hair cells within the inner ear to address acquired hearing loss and balance disorders; and Otoprotection Therapeutic in clinical development to prevent hearing loss in cancer patients undergoing chemotherapy with cisplatin.

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